Our eyes widened as we did the math this morning. The Examiner reported a median San Francisco home/condo sales price of $786k in July of 2004 versus $804k in July of 2005…that’s an anemic 2.3% annual growth rate!
But alas, it was just a typo in the print edition of the Examiner (we checked with the author). The July 2004 median home/condo sales price should have been reported as $704k (for an actual one-year price gain of 14.2%). Damn, we thought we had a story…