Updated S&P Case-Shiller Home Price Index for San Francisco Metro Area

The S&P Case-Shiller Index for the San Francisco Metro Area covers the house markets of 5 Bay Area counties, divided into 3 price tiers, each constituting one third of unit sales. Most of the San Francisco’s and Marin’s house sales are in the “high price tier”, so that is where we focus most of our attention.” The Index is published 2 months after the month in question and reflects a 3-month rolling average, so it will always reflect the market of some months ago. The Index for April 2015 was released on the last Tuesday of June.

The 5 counties in our Case-Shiller Metro Statistical Area are San Francisco, Marin, San Mateo, Alameda and Contra Costa. Needless to say, there are many different real estate markets found in such a broad region, and it’s fair to say that the city of San Francisco’s market has generally out-performed the general metro-area market.

The first two charts illustrate the price recovery of the Bay Area high-price-tier home market over the past year and since 2012 began, when the market recovery really started in earnest. In 2012, 2013, 2014 and now 2015, home prices have dramatically surged in the spring (often then plateauing or even ticking down a little in the following seasons). The surges in prices that have occurred in the spring selling seasons reflect frenzied markets of huge buyer demand, historically low interest rates and extremely low inventory. In San Francisco itself, it was further exacerbated by a rapidly expanding population and the high-tech-fueled explosion of new, highly-paid employment and new wealth creation. From what we are seeing on the ground in the feverishly competitive hurly-burly of deal-making, we expect further increases to show up in the May and June Index reports.

For more regarding how seasonality affects real estate: Seasonality & the Real Estate Market

Case-Shiller Index numbers all reflect home prices as compared to the home price of January 2000, which has been designated with a value of 100. Thus, a reading of 214 signifies home prices 114% above the price of January 2000.

Short-Term Trends: 12 Months & Since Market Recovery Began in 2012

Case-Shiller_1-Year Case-Shiller_High-Tier_2011

Longer-Term Trends & Cycles

The third and fourths charts below reflect what has occurred in the longer term (for the high-price tier that applies best to San Francisco and Marin counties), showing the cycle of recession, recovery, bubble, decline/recession since 1996, and since 1988. Note that, past cycle changes will always look smaller than more recent cycles because the prices are so much higher now; if the chart reflected only percentage changes between points, the difference in the scale of cycles would not look so dramatic.

Case-Shiller_from_1990 Case-Shiller_HT_1996-2011

Different Bubbles, Crashes & Recoveries

This next 3 charts compare the 3 different price tiers since 1988. The low-price-tier’s bubble was much more inflated, fantastically inflated, by the subprime lending fiasco – an absurd 170% appreciation over 6 years – which led to a much greater crash (foreclosure/distressed property crisis) than the other two price tiers. All 3 tiers have been undergoing dramatic recoveries, but because the bubbles of the low and middle tiers were greater, their recoveries leave them below – a little bit for the mid-price-tier and well below for the low-price-tier – their artificially inflated peak values of 2006. It may be a long time before the low-price-tier of houses regains its previous peak values. The high-price-tier, with a much smaller bubble, and little affected by distressed property sales, has now significantly exceeded its previous peak values of 2007. Most neighborhoods in the city of San Francisco itself have now surpassed previous peak values by very substantial margins.

It’s interesting to note that despite the different scales of their bubbles, crashes and recoveries, all three price tiers now have similar overall appreciation rates when compared to year 2000. As of April 2015, this range has narrowed to 109% to 114% over year 2000 prices. This suggests an equilibrium is being achieved across the general real estate market.

Different counties, cities and neighborhoods in the Bay Area are dominated by different price tiers though, generally speaking, you will find all 3 tiers represented in different degrees in each county. Bay Area counties such as Alameda, Contra Costa, Napa, Sonoma and Solano have large percentages of their markets dominated by low-price tier homes (though, again, all tiers are represented to greater or lesser degrees). San Francisco, Marin, San Mateo and Santa Clara counties are generally mid and high-price tier markets, and sometimes very high priced indeed. Generally speaking, the higher the price, the smaller the bubble and crash, and the greater the recovery as compared to previous peak values.

Remember that if a price drops by 50%, then it must go up by 100% to make up the loss: loss percentages and gain percentages are not created equal.

The numbers in the charts refer to January Case-Shiller Index readings, except for the last as labeled..

Low-Price Tier Homes: Under $549,000 as of 4/15

Huge subprime bubble (170% appreciation, 2000 – 2006) & huge crash (60% decline, 2008 – 2011). Strong recovery but still well below 2006-07 peak values.

Case-Shiller_LowTier_Longterm

Mid-Price Tier Homes: $549,000 to $903,000 as of 4/15

Smaller bubble (119% appreciation, 2000 – 2006) and crash (42% decline) than low-price tier. Strong recovery but still a little below 2006 peak.

Case-Shiller_Mid-Price-Tier_since-1988

High-Price Tier Homes: Over $903,000 as of 4/15

84% appreciation, 2000 – 2007, and 25% decline, peak to bottom.
Now climbing well above previous 2007 peak values.

Case-Shiller_from_1990

In San Francisco, where many neighborhoods vastly exceed the initial price threshold for the high-price tier, declines from peak values in 2007 in those more expensive neighborhoods typically ran 15% – 20%, and appreciation over previous peak value has also exceeded the high-price tier norm.

San Francisco County

And then looking just at the city of San Francisco itself, which has, generally speaking, among the highest home prices in the 5-county metro area (and the country): many of its neighborhoods are now blowing past previous peak values. Note that this chart has more recent price appreciation data than available in the Case-Shiller Indices. This chart shows both house and condo values, while the C-S charts used above are for house sales only. Median prices are affected by other factors besides changes in values, including seasonality, new construction projects hitting the market, inventory available to purchase, and significant changes in the distressed and luxury home segments.

1993-2010_SF_Median_Sales_Prices

And this chart for the Noe and Eureka Valleys neighborhoods of San Francisco shows the explosive recovery seen in many of the city’s neighborhoods, pushing home values far above those of 2007. San Francisco, San Mateo and Santa Clara counties are most effected by the high-tech wealth effect on home prices. Noe and Eureka Valleys are particularly prized by this buyer segment and the effect on prices has been astonishing.

Noe-Eureka_SFD_Avg-SP_DolSqFt_by_YEAR

_89972_orig

4339 California Street, No.1

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1000 Ways to Enjoy San Francisco & the Bay Area This Summer

Guests are coming, the kids are out of school, or you just want to do something different than usual. Summer has arrived in one of the most beautiful and multi-dimensional places on earth, and here is a wide variety of ideas for making the most of it.

Dinner, brunch, burritos, burgers, bars, music, dance, theater, running, biking, hiking, and things to do with visitors, children and dogs.

Food & Drink

Top 100 Restaurants

Zagat’s Best

Outdoor Dining & Drinking

Best Meal Delivery

Best Breakfast

Best Brunch

Best Burritos

Best Sandwiches

Best Pizza

Best Hamburgers

Best Dim Sum

Best Bars

Beer Drinking

Coffee Drinking

More Coffee

Best Desserts!

Out & About

Things to Do

To Do with Kids

To Do in Oakland

To Do in Marin

In Napa & Sonoma
City Biking

Mountain Biking

City Walks

Best Views

Hiking Trails

Running Clubs

LGBT – To Do

Sunday Streets

City Parks

Dog Parks

Farmers’ Markets

Sports Teams

Sports Calendar

Arts & Culture

Arts & Entertainment

More Arts Events

Nightclubs

Music

Museums

Ballet

Opera

Symphony

Theater

Important note: You will undoubtedly find yourself disagreeing vehemently with one or more of the above “best lists” – best burrito, brunch and coffee are particularly contentious issues in the Bay Area. Our position is clear: We agree wholeheartedly with you and share your dismay. Still, despite these egregious errors in taste, we hope you and yours are able to enjoy a summer delightful in every way.

Another Challenging Spring for Buyers; Sellers Rejoice as Home Prices Hit New Highs

Escalating Home Prices; Fierce Overbidding; Luxury Home Sales;
Interest Rates; Employment Trends; Biggest Home Sales of 2015 YTD

June 2015 San Francisco Real Estate Report
by Paragon Real Estate Group

4 Angles on San Francisco Home Price Appreciation

Short-Term Trend Line: Since the Recovery Began in 2012

1

Longer-Term Trends: 1993 – 2015

2

Neighborhood Appreciation Snapshots
May 2011 – May 2015

Central Sunset, Central Richmond & Noe Valley:
Median House Sales Prices

3

SoMa, Eureka Valley & Marina:
2-Bedroom Condo Median Sales Prices

4

Link to San Francisco Neighborhood Map

Luxury Home Sales by District

5

6

High-end home sales and prices in the city have been increasing rapidly, with interesting shifts occurring between older high-prestige neighborhoods like Pacific Heights and Russian Hill, and areas such as Noe Valley and South Beach, where surging sales of very expensive homes are a more recent phenomenon.Part of this shift is being fueled by the explosion of younger, high-tech wealth; another part is the recent construction boom of high-rise, ultra-luxury condo buildings south of Market Street.

There is an enormous variety in high-end real estate in San Francisco, from mansions to penthouses, Victorians to new, ultra-high-tech construction, as can be glimpsed in the list of sales at the end of this report. One of the more common amenities is spectacular views.

Home Sales by Price Segment, 2015 YTD

7

Four years ago, one found the most homes for sale in the $600,000 to $750,000 price segment. Now $1 million to $1.5 million is the “sweet spot” for San Francisco home prices.

Overbidding List Prices

8

When the average SF home sale is selling for 10% over the original asking price, the market is characterized by fiercely competitive buyer bidding wars. Another indicator: Almost 93% of home sales in May sold without going through any price reductions, an astonishingly high percentage.

These charts above and below, along with the one at the top of this newsletter delineating quarterly median price movements, also illustrate the seasonal nature of real estate sales. For 4 years running, the hottest, most competitive markets have been during the spring selling season. The market often cools down during the summer.

9

Economic Indicators

10

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Two of the biggest factors affecting the San Francisco real estate market are extremely low interest rates, which have a large impact on the ongoing cost of homeownership, and surging, well-paid employment. According to Ted Egan, San Francisco’s Chief Economist, high-tech jobs alone jumped by 18% in the 12 months through March 2015, and as of April, the city’s unemployment rate, at 3.4%, was the lowest since the height of the dotcom boom.

Interest rates are almost 40% below those in 2006 – 2007. With home prices having increased so much recently, future interest rate changes will be something to watch carefully for their impact on affordability. Rates have been inching up recently and just hit 4% for the first time in 2015, but they are still very low by any historical measure.

Highest Home Sales by Neighborhood, 2015 YTD

This is a sampling of highest sales prices achieved in selected San Francisco neighborhoods in 2015 YTD, as reported to MLS. Note that this is not a comprehensive list of the city’s highest priced home sales.

$31,000,000. Pacific Heights: 7-bedroom, 16,400 sq.ft. mansion on Broadway, $1890/sq.ft.

$11,000,000. Sea Cliff: 5-bedroom, 3600 sq.ft., ocean-front house on Sea Cliff Ave., $3068/sq.ft.

$9,250,000. Pacific Heights: 2-bedroom, 3500 sq.ft., 1927 co-op on Alta Plaza Park, $2643/sq.ft.

$9,100,000. Russian Hill: 2-bedroom, 3300 sq.ft. co-op at Royal Towers, $2742/sq.ft.

$7,000,000. Noe Valley: 5-bedroom, 1907, 4450 sq.ft. house on Elizabeth Street, $1571/sq.ft.

$6,500,000. Alamo Square: 6-bedroom, 1902, 7800 sq.ft. mansion on Fulton, $833/sq.ft.

$6,285,000. St. Francis Wood: 5-bedroom, 6700 sq.ft. mansion on half-acre lot on San Anselmo Ave., $938/sq.ft.

$5,600,000. Dolores Heights: 4-bedroom, new construction house on Noe Street

$5,500,000. Nob Hill: 3-bedroom, 2721 sq.ft. TIC at Park Lane, $2021/sq.ft.

$5,475,000. SoMa: 3-bedroom condo at Four Seasons

$4,995,000. South Beach: 3-bedroom penthouse condo on South Park

$4,200,000. Glen Park: 4-bedroom, new construction, 3400 sq.ft. house on Laidley, $1235/sq.ft.

$4,000,000. Yerba Buena: 2-bedroom, 1952 sq.ft. condo at Millennium, $2049/sq.ft.

$3,900,000. Lake Street: 3-bedroom, 2952 sq.ft., 1914 Edwardian, $1321/sq.ft.

$3,850,000. Golden Gate Heights: 5-bedroom, 4062 sq.ft. 1974 house on Pacheco, $948/sq.ft.

$3,150,000. Bernal Heights: 4-bedroom, 2293 sq.ft., 2011 house on Folsom, $1374/sq.ft.

$3,100,000. Inner Mission: 3-bedroom, 2800 sq.ft. house on Shotwell, $1107/sq.ft.

$3,000,000. Inner Richmond: 3-bedroom, 4225 sq.ft. 1912 Edwardian on 10th Ave., $710/sq.ft.

$2,885,000. Inner Sunset: 3-bedrrom, 2640 sq.ft. 1904 Edwardian on 6th Ave., $1081/sq.ft.

$2,715,000. Hayes Valley: 4-bedroom, 3808 sq.ft. TIC on Waller, $713/sq.ft.

$2,510,000. Forest Hill: 5-bedroom, 3300 sq.ft., 1926 house on Taraval, $761/sq.ft.

$2,400,000. Potrero Hill: 3-bedroom, 2434 sq.ft., 1908 Edwardian on Kansas, $986/sq.ft.

$1,900,000. Sunnyside: 4-bedroom, 2715 sq.ft., 2003 house on Mangels, $700/sq.ft.

$1,280,000. Portola: 5-bedroom, 3128 sq.ft. new construction house on Madison, $409/sq.ft.

$900,500. Bayview: 4-bedroom, 1626 sq.ft., 1996 house on Armstrong, $554/sq.ft.

1261 Grove Street MLS - 1

1261 Grove Street #5

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Updated S&P Case-Shiller Home Price Index for San Francisco Metro Area

The S&P Case-Shiller Index for the San Francisco Metro Area covers the house markets of 5 Bay Area counties, divided into 3 price tiers, each constituting one third of unit sales. Most of the San Francisco’s and Marin’s house sales are in the “high price tier”, so that is where we focus most of our attention.” The Index is published 2 months after the month in question and reflects a 3-month rolling average, so it will always reflect the market of some months ago. The Index for March 2015 was released on the last Tuesday of May.

The 5 counties in our Case-Shiller Metro Statistical Area are San Francisco, Marin, San Mateo, Alameda and Contra Costa. Needless to say, there are many different real estate markets found in such a broad region, and it’s probably fair to say that the city of San Francisco’s market has generally out-performed the general metro-area market.

The first two charts illustrate the price recovery of the Bay Area high-price-tier home market over the past year and since 2012 began, when the market recovery really started in earnest. In 2012, 2013, 2014 and now 2015, home prices have dramatically surged in the spring (often then plateauing or even ticking down a little in the following seasons). The surges in prices that have occurred in the spring selling seasons reflect frenzied markets of huge buyer demand, historically low interest rates and extremely low inventory. In San Francisco itself, it was further exacerbated by a rapidly expanding population and the high-tech-fueled explosion of new, highly-paid employment and new wealth creation. From what we are seeing on the ground in the feverishly competitive hurly burly of deal-making, we expect further increases to show up in the April and May Index reports.

For more regarding how seasonality affects real estate: Seasonality & the Real Estate Market

Case-Shiller Index numbers all reflect home prices as compared to the home price of January 2000, which has been designated with a value of 100. Thus, a reading of 210 signifies home prices 110% above those of January 2000.

Short-Term Trends: 12 Months & Since Market Recovery Began in 2012

1 2

Longer-Term Trends & Cycles

The third and fourths charts below reflect what has occurred in the longer term (for the high-price tier that applies best to San Francisco and Marin counties), showing the cycle of recession, recovery, bubble, decline/recession since 1996, and since 1988. Note that, past cycle changes will always look smaller than more recent cycles because the prices are so much higher now; if the chart reflected only percentage changes between points, the difference in the scale of cycles would not look so dramatic.

3 4

Different Bubbles, Crashes & Recoveries

This next 3 charts compare the 3 different price tiers since 1988. The low-price-tier’s bubble was much more inflated, fantastically inflated, by the subprime lending fiasco – an absurd 170% appreciation over 6 years – which led to a much greater crash (foreclosure/distressed property crisis) than the other two price tiers. All 3 tiers have been undergoing dramatic recoveries, but because the bubbles of the low and middle tiers were greater, their recoveries leave them below – a little bit for the mid-price-tier and well below for the low-price-tier – their artificially inflated peak values of 2006. It may be a long time before the low-price-tier of houses regains its previous peak values. The high-price-tier, with a much smaller bubble, and little affected by distressed property sales, has now significantly exceeded its previous peak values of 2007. Most neighborhoods in the city of San Francisco itself have now surpassed previous peak values by very substantial margins.

It’s interesting to note that despite the different scales of their bubbles, crashes and recoveries, all three price tiers now have similar overall appreciation rates when compared to year 2000. As of March 2015, this range has narrowed to 104% to 110% over year 2000 prices. This suggests an equilibrium is being achieved across the general real estate market.

Different counties, cities and neighborhoods in the Bay Area are dominated by different price tiers though, generally speaking, you will find all 3 tiers represented in different degrees in each county. Bay Area counties such as Alameda, Contra Costa, Napa, Sonoma and Solano have large percentages of their markets dominated by low-price tier homes (though, again, all tiers are represented to greater or lesser degrees). San Francisco, Marin, San Mateo and Santa Clara counties are generally mid and high-price tier markets, and sometimes very high priced indeed. Generally speaking, the higher the price, the smaller the bubble and crash, and the greater the recovery as compared to previous peak values.

Remember that if a price drops by 50%, then it must go up by 100% to make up the loss: loss percentages and gain percentages are not created equal.

The numbers in the charts refer to January Case-Shiller Index readings, except for the last as labeled..

Low-Price Tier Homes: Under $539,000 as of 3/15

Huge subprime bubble (170% appreciation, 2000 – 2006) & huge crash (60% decline, 2008 – 2011). Strong recovery but still well below 2006-07 peak values.

5

Mid-Price Tier Homes: $539,000 to $879,000 as of 3/15

Smaller bubble (119% appreciation, 2000 – 2006) and crash (42% decline) than low-price tier. Strong recovery but still a little below 2006 peak.

5

High-Price Tier Homes: Over $879,000 as of 3/15

84% appreciation, 2000 – 2007, and 25% decline, peak to bottom.
Now climbing well above previous 2007 peak values.

7

In San Francisco, where many neighborhoods vastly exceed the initial price threshold for the high-price tier, declines from peak values in 2007 in those more expensive neighborhoods typically ran 15% – 20%, and appreciation over previous peak value has also exceeded the high-price tier norm.

San Francisco County

And then looking just at the city of San Francisco itself, which has, generally speaking, among the highest home prices in the 5-county metro area (and the country): many of its neighborhoods are now blowing past previous peak values. Note that this chart has more recent price appreciation data than available in the Case-Shiller Indices. This chart shows both house and condo values, while the C-S charts used above are for house sales only. Median prices are affected by other factors besides changes in values, including seasonality, new construction projects hitting the market, inventory available to purchase, and significant changes in the distressed and luxury home segments.

8

And this chart for the Noe and Eureka Valleys neighborhoods of San Francisco shows the explosive recovery seen in many of the city’s neighborhoods, pushing home values far above those of 2007. San Francisco, San Mateo and Santa Clara counties are most effected by the high-tech wealth effect on home prices. Noe and Eureka Valleys are particularly prized by this buyer segment and the effect on prices has been astonishing.

9

All data from sources deemed reliable, but may contain errors and is subject to revision. Statistics are generalities and how they apply to any specific property is unknown. Short-term fluctuations are less meaningful than longer term trends. All numbers should be considered approximate.

© 2015 Paragon Real Estate Group

_88392_orig

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San Francisco Home Price Appreciation

This chart updates, with the last prices the medians for 2015 YTD (i.e. 1/1 – 5/21/15).image004

San Francisco Neighborhood Home Prices Continue to Break Records

Median Sales Prices; Luxury Home Sales; Housing Affordability Index;
Home Values by Neighborhood; Investment Real Estate; New Development

Median House & Condo Sales Prices

1

2

As the 2015 market has accelerated, median home sales prices have been hitting new highs in neighborhoods across San Francisco. Link to San Francisco Neighborhood Map

Home Price Appreciation

3

The chart above graphs monthly house and condo median price appreciation in the city since the market recovery began in early 2012. The 2 charts below are snapshots of changes in median sales prices in a sampling of 6 different SF neighborhoods from early 2013 to early 2015, one for houses and one for 2-bedroom condos. (The 2015 prices in these charts below may vary from those earlier in this report, because slightly different parameters were used.)

Median Price Changes, 2013 – 2015

Bayview, Bernal Heights & Glen Park Houses

4

Hayes Valley, Inner Mission, South Beach 2-Bedroom Condos

5

Luxury Home Sales

6

High-end home sales continue to hit new highs in San Francisco: Last spring was the hottest on record; spring 2015 is blowing through last year’s numbers. The chart above is from our updated luxury report, which can be found here:
SF Luxury Home Market Report

Housing Affordability Index

7

This CAR Housing Affordability Index (HAI) is calculated using median price, household income, interest rates and other financial criteria to determine the percentage of local households which can afford to buy. At 14% to 15%, San Francisco, Marin and San Mateo have very low affordability readings in comparison to other parts of the country – the Index reading is now 31% for the state and 59% for the country.

Affordability calculations are a complex and nuanced issue, especially in San Francisco*. However, one can’t argue with the general trend lines. When the market heats up and prices rise, affordability goes down; when the market goes into a recession, affordability rises. If affordability declines beyond a certain point, it may become an indicator of an overvalued real estate market. SF’s Index reading is still above the historic lows it hit in 2001 and 2007. Changes in interest rates can quickly and significantly affect affordability.

New Listings & Buyer Demand

8

The above chart illustrates the seasonal ebb and flow of the market as new listings come on the market and buyers react by putting properties under contract. Spring is typically the biggest selling season of the year, followed by a large spike in autumn. Market activity usually slows in summer and plunges during the winter holiday season.

Multi-Unit & Investment Real Estate

The two charts below are from our recently issued reports on the multi-unit building market, the first on properties of 2 to 4 units, and the second on larger apartment buildings of 5+ units. The second chart illustrates the parallels between rents and home prices in counties around the Bay Area. Regarding affordability: If someone’s choice is between paying a very high rent or buying an expensive home at today’s low interest rates and with all the tax advantages of homeownership, buying is typically the much better option financially over the longer term. But the devil is always in the details.

9

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The full reports can be found here:

SF 2-4 Unit Building Market

Bay Area 5+ Unit Apartment Market

Housing Inventory & New Home Construction

The first chart below and the map following it depict the current boom in new-home construction and the districts where new development is clustered. The second chart illustrates the growth of the condominium segment of the city’s housing inventory via both construction and conversion.(A lot more is coming.) The new-home development situation in San Francisco is fascinating – and a fierce political issue.

Our full report on the topic is here: Paragon Housing & Construction Report

11

New home development often goes through gigantic boom and bust cycles. What complicates the issue for SF developers is that from start to finish, from creating plans for city review to completing construction, the process can easily take 4 to 6 years. Right now, both residential and commercial developers are making enormous bets on a long, sustained, up cycle in the SF economy and real estate market.

12

New residential construction is heavily concentrated around the Market Street corridor, the Van Ness corridor just north of Market, and in the large quadrant of the city that lies to the southeast of Market. This is due to the availability of large, previously commercial/industrial-use lots that can be changed to residential use, and the zoning that allows for large – sometimes very large – projects to be constructed in these areas.

13

Though only about 40 years old, the condo sales market in the city is now larger than the house market. And 99% of all new construction being built for sale consists of new and usually high-end condos.

* A few “peculiarities” that may skew the housing affordability calculation in San Francisco are: 1) the city has an abnormally high percentage of single-resident households, 38%, which affects median household income figures, 2) unlike most counties, the majority of SF residents are tenants not owners, and the greater part of those are under rent control, and 3) the SF market is currently being fueled in no small part by large numbers of people moving into the city for very well-paid jobs.

Short-term median prices may fluctuate due to a number of different factors, including seasonality, inventory available to purchase, interest rates and significant changes in the luxury and new-home segments of the market.Longer-term trends are always more meaningful than short-term ups and downs.

These analyses were made in good faith with data from sources deemed reliable, but they may contain errors and are subject to revision. Statistics are generalities and how they apply to any specific property is unknown without a tailored comparative market analysis. Sales statistics of one month generally reflect offers negotiated 4 – 6 weeks earlier, i.e. they are a month or so behind what’s actually occurring in the market as buyers and sellers make deals. All numbers should be considered approximate.Please contact us with any questions or concerns.

© 2015 Paragon Real Estate Group

From our NorCal network : The Artisan Group

GetMedia

540 Beach Drive
Aptos, CA 95003
Offered at $2,100,000

For more information about this property or a referral to other areas of Northern California, please contact me.