BUYING A LUXURY HOME IN SAN FRANCISCO
For the sake of this report, houses selling for $2.5 million and above, and condos, co-ops and TICs selling for $1.5 million and above are designated (somewhat arbitrarily) as luxury home sales. What you get in different neighborhoods for your millions of dollars will vary widely. Views often play a significant role in SF home values, but particularly in the luxury condo market, where the most expensive units often offer staggering views from very high floors. Over the past 15 years – and accelerating in the current market recovery – there have occurred some very large shifts in the luxury home market, with districts other than the old-prestige, northern neighborhoods becoming major destinations for (very) high-end homebuyers. However the northern neighborhoods like Pacific Heights still dominate the ultra-high end in SF: houses selling for $5 million or more. The greater South Beach-Yerba Buena area, with its many new luxury condo towers now has more luxury condo sales than any other area.