The median home sale price in San Francisco increased $100,000 in the first quarter of 2018 as compared to the fourth quarter of 2017. The year-over-year gain was nearly 24 percent, according to Paragon Real Estate Group.
Patrick Carlisle, chief marketing officer at Paragon, wrote in the report, “Fear of possible impending interest rate increases may be playing a role in demand, but consumer confidence has also been soaring over the past year. Recent financial market volatility, so far, appears to be having little effect on local real estate markets, but it is still early to measure this," Bloomberg reports.
Quarter-to-quarter fluctuations in median home prices are often not too meaningful, the real estate brokerage said in its report. But prices in the city have been soaring for several years, as “feverish” demand far outstrips supply ... One silver lining for people out shopping now: The gain in condo prices has moderated as new units come on to the market. The median condo price increased by a relatively modest 4.6 percent from a year earlier, to $1.18 million.
