The high-end home market, which was hard-hit by the recession, is beginning to look hearty and hale once again. (And how often do you get to use the phrase “hearty and hale”?) According to the Standard & Poors Case-Shiller Index for July, which came out this week, high-tier home values in the San Francisco metro area increased for the fifth consecutive time.
Now, this is plenty relevant to San Francisco given that most of our houses are considered high-tier – that is, priced at more than $601,000. What’s more, in the city’s eight northern and central real estate districts, nearly 90 percent of homes are high-tier.
The index, which surveys 20 U.S. cities, showed a 0.9 percent jump in July over June. I’m not saying that’s as good as it could be, but it’s a start, right?
And to put things in a longer-term perspective, July’s numbers show a 44.3 percent value above that of January 2000 – a peak time for the housing market. Want to talk further about these figures and how they relate to your real estate needs? Give me a call.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call or email at 415-577-0809 or email at firstname.lastname@example.org. www.ceceblase.com