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Condos under $1 million increasingly rare

Posted on April 6, 2018 by editors

Rare: A unit at 3330 Clay Street is currently on the market for $629,000.

REAL ESTATE | PATRICK BARBER

Continuously tight supplies and robust buyer demand have pushed up real estate prices in San Francisco’s most desirable neighborhoods over the past few years, making properties that sell for less than $1 million an endangered species.

Between mid-February and mid-March, 19 condominiums changed hands in Lower Pacific Heights, Pacific Heights, Cow Hollow and Presidio Heights. More than half sold for more than the original price and only two sold for less than $1 million. Compare that with the same period last year, when six of the 22 condominiums — 27 percent — sold for less than $1 million.

Patrick Barber is president of Pacific Union.

Filed under: Real Estate

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