The recorded sales volume of single-family homes and condos in San Francisco increased 13.4 percent from 373 in January to 423 in February, which is within 0.3 percentage points of the typical seasonal increase which has averaged 13.1 percent over the past eleven years.
The median sale price for the San Francisco homes that changed hands in February was $1,142,500, down 2.1 percent from the record $1,166,750 in January but 3.9 percent higher versus the same time last year, according to data compiled by Corelogic. The recorded year-over-year gain was the smallest since January 2015 and the second smallest in four years.
Across the entire Bay Area, recorded home sales increased a nominal 0.3 percent January to February and were 0.4 percent higher year-over-year with a median sale price of $609,500, which was down 1.7 percent from January but 5.1 percent higher year-over-year.
And based on 916 sales, which was down 6.4 percent versus the month before, the median sale price in Alameda County was $635,500 in February, relatively unchanged from $635,250 in January but 24.7 percent higher versus February 2015.
Keep in mind that while movements in the median sale price are a great measure of what’s selling, they’re not necessarily a great measure of appreciation or changes in value and are susceptible to changes in mix, as opposed to movements in the Case-Shiller Index.