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House & Condo Market Dynamics Dramatically Diverge

 SF house and condo markets have been affected differently by the pandemic. This report attempts a deeper dive into the data across the city and within different city districts.

The market typically starts a big slowdown in mid-November, running through the mid-winter holidays, until it begins to wake up in mid-January. High-price segments normally see the most dramatic plunges in mid-winter activity.

This year, the pandemic upended seasonality: Spring, usually the strongest selling season, saw a crash in activity; summer, which typically slows down – especially for luxury home sales – saw high demand; and the summer market accelerated into autumn. But supply has been accelerating even faster than demand.

We suspect late Q4 will see something of a slowdown, but remain more active than in past years.

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