San Francisco & Marin Market Q2 2022

SAN FRANCISCO Q2 2022 WRAP-UP

With half of the year now behind us and three months of Q2 data available, we can clearly see the market showing signs of correcting after what was one of the longest and most dramatic upswings in history. It is important to keep in mind that this report uses data from closed sales which are lagging indicators of what occurred in the market weeks and months earlier.

Overall sales numbers are trending lower (11.4 percent for single family homes and 24.6 percent for condominiums) compared with the ravenous pace of home sales we experienced in 2021. Yearly appreciation metrics continue to be positive, though monthly indicators have been showing volatility in the median price per square foot since April. If stock market prices are like small maneuverable jets, home prices are like large passenger airliners, which decelerate and turn slowly.

Concerns typically follow uncertainty, but a correction is not a crash. The factors that led to the 2008 crash are not applicable today. There is no telling at this stage whether there will be a simple softening of appreciation, relatively small price adjustments in the short-term, or anything else.

The real estate market in San Francisco is as diverse as its community and the slowdown has affected sectors unevenly. The plethora of distinct neighborhoods populated with unique homes is one of the many aspects that make this market so special. We at Vanguard Properties will remain at the forefront to serve all your real estate needs..

Single Family Residences

YEAR-OVER-YEAR COMPARISON

SINGLE FAMILY RESIDENCES

Median Area Values

TOP FIVE SALES IN Q2 2022

SINGLE FAMILY RESIDENCES

**3747 JACKSON STREET**
Presidio Heights

$15,750,000 $2,255/sq. ft.
6 bed / 8 bath 6,985 sq. ft.

**2505 PACIFIC AVENUE**
Pacific Heights

$15,000,000 $2,303/sq. ft.
6 bed / 6 bath 6,514 sq. ft.

**2705 LARKIN STREET**
Russian Hill

$12,000,000 $2,024/sq. ft.
4 bed / 7 bath 5,930 sq. ft..

**2908 PACIFIC AVENUE**
Pacific Heights

$11,000,000 $1,860/sq. ft.
5 bed / 6 bath 5,915 sq. ft.

**2707 LARKIN STREET**
Russian Hill

$9,850,000 $1,834/sq. ft.
4 bed / 8 bath 5,371 sq. ft.

MEDIAN SALE PRICE

MEDIAN MARKET TIME

MARIN COUNTY MARKET UPDATE MAY 2022

With half of the year now behind us and three months of Q2 data available, we can clearly see the market showing signs of correcting after what was one of the longest and most dramatic upswings in history. It is important to keep in mind that this report uses data from closed sales which are lagging indicators of what occurred in the market weeks and months earlier.

Overall sales numbers are trending 17.4 percent lower compared with the ravenous pace we experienced in 2021. Yearly appreciation metrics continue to be overwhelmingly positive, though monthly indicators have shown volatility in the median sales price and price per square foot since May. If stock market prices are like small maneuverable jets, home prices are like large passenger airliners, which decelerate and turn slowly.

Concerns typically follow uncertainty, but a correction is not a crash. The factors that led to the 2008 crash are not applicable today. There is no telling at this stage whether there will be a simple softening of appreciation, relatively small price adjustments in the short-term, or anything else.

The real estate market in Marin is diverse and the slowdown has affected sectors unevenly. The numerous distinct cities populated with unique homes is one of the many aspects that make this market so special. We at Vanguard Properties will remain at the forefront to serve all your real estate needs.