According to First Republic Bank, the price of an average luxury home in San Francisco is now $2.92 million (up $231,456 from just one year ago). And according to David Papale of Ritchie Hallanan, while there’s a there’s a cooling on the high end (above $5.0 million), there’s still a shortage of inventory on the “low end” ($1.5 million to $2.5 million).
∙ Luxury home values hit record in S.F. [bizjournals]