SAN FRANCISCO LUXURY REAL ESTATE
sureshjokoshy
San Francisco was the hottest market in 2005 with 55% of single family homes selling in the first 30 days or less for an average of 6% over the asking price. For luxury condos, the numbers were similar: 56% sold in the first 30 days for an average of 7% over asking. On average, however, prices remained relatively flat for single family homes, except in Presidio Heights and Russian Hill, which saw average sales prices soar to $5,738,382 and $5,196,563 respectively. A lackof inventory and surplus of buyers accounted for the modest rise of just 21% in unit sales of single family homes. SONOMA COUNTY
Sonoma County experienced an enormous gain in sales activity for properties priced over $900,000 with 783 total sales in 2005, an increase of 64%. In January, upper-end land took off, which historically, is an early bullish indicator. Mid-year, luxury residential listings over $3,000,000 surged, and by year end, there were 19 sales over $3,000,000compared to 3 in 2004.
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Posted on: Saturday, December 22, 2007 at 1:24 pm 
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