SF Home Sales by Price Segment
Thinking about the market, it seemed that lower-priced home sales (especially houses) were still quite hot and sales under $1 million were clearly decreasing in volume as prices rose in more affordable areas. And sales of higher priced homes were decreasing as that segment cooled off, which would suggest that sales between $1m and $2m would be increasing, i.e. sales volume was increasingly being concentrated in the middle of the market. And that is what I found.
It appears that median prices have generally been plateauing, but that disguises other changes and varying conditions in the market.
We adjusted 2016 numbers to compensate for a year-over-year decline in unit sales of 7.8%. After doing so, one sees unit sales below $1m and above $2m both dropped by about 9%, while sales of homes in between jumped 12%.