The Lurie Group
San Francisco Real Estate as 2021 Begins

San Francisco Real Estate as 2021 Begins

  • The Lurie Group
  • March 3, 2021

Home Sales Surge Back to End 2020. 
High Demand Gets 2021 Off to a Heated Start.

February 2021 Report

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Our January report focused mostly on 2020’s annual statistics. This report will put most of its attention on quarterly and monthly indicators, which better illustrate changes occurring as 2020 progressed and 2021 began. 

Of Bay Area counties, San Francisco was most negatively affected in the months immediately following the implementation of shelter-in-place. Inventory soared and sales plunged, especially in its condo market. In the second half of the year, buyers rushed back into the market.

Sales volume, very unusually, peaked for the year in December, hitting its highest point in history (for December). Home sales in January were up 67% over January 2020, a tremendous increase. Year-over-year, house median sales prices are up a little, and condo median prices, divided by size of unit, were down about 10%.

The city remains a very complex market, varying by neighborhood, property type and price segment. And vaccines may alter dynamics considerably in 2021.

New listings coming on market jumped up in January, as is the norm. The market seems to be heating up much more quickly than typical at the beginning of the new year.

Month by month, year-over-year comparison of home sales volumes – illustrating the initial pandemic crash in activity followed by the market rebound that saw monthly sales volumes climb far above the levels of the previous year. Blue columns represent monthly sales within the last 12 months, and gray columns, sales in the previous 12 months.

Sales were up 60% and peaked for the year in December (first time ever), and January sales soared 67% above January 2020.

San Francisco median sales price chart, comparing house and condo prices from 2005 to 2021.

San Francisco new listings chart showing seasonal peaks, December slowdowns, and pandemic-era changes from 2017 to 2021.

Chart of San Francisco active listings, with a sharp rise in 2020 and a peak around October.

San Francisco monthly home sales chart shows sales rebounding in late 2020 and rising 67% year-over-year in January 2021.

Chart compares San Francisco home sales in 2020 and 2019, with luxury houses up 11% and luxury condos down 20%.

Chart comparing San Francisco home and condo sale-to-list-price percentages by quarter, 2017–2020.

Bar chart of San Francisco listing price reductions, showing a dramatic surge after the pandemic hit in 2020.

San Francisco chart of expired or withdrawn listings, with a sharp peak in December 2020.

San Francisco Q4 2020 housing market table compares prices, sales, listing activity, offer rates, and time on market by district.

San Francisco condo market snapshot by district, with Q4 2020 sales and listing statistics.

Chart of 30-year mortgage rates from 2016 to 2021, peaking near 4.9% in 2018 and falling to about 2.7%.

Line chart comparing 2020 stock price changes for Apple, Netflix, Salesforce, Facebook, Alphabet, and the S&P 500.

 
 
 
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Meet Alexander

Meet Alexander Lurie

Alexander Fromm Lurie is a highly accomplished San Francisco real estate professional and the leader of The Lurie Group, a top-performing team recognized among the top 1% of agents in the city. With over a decade of experience in the real estate industry and California DRE License #01952347, Alexander has built a reputation for delivering exceptional results, with hundreds of homes sold and over $1 billion in total sales volume. Born and raised in San Francisco, he brings deep local expertise, generational knowledge of the Bay Area, and a strong connection to the community into every client relationship. His approach goes beyond transactions—focusing on helping clients build meaningful connections to neighborhoods, schools, and local culture while navigating the buying or selling process with confidence.

Alexander’s background in management consulting and entrepreneurship further strengthens his strategic approach to real estate, allowing him to provide clients with a competitive edge in pricing, negotiation, and marketing. Known for his integrity, discretion, and client-first mindset, he continues to be a trusted advisor for buyers, sellers, and investors across San Francisco’s dynamic real estate market.

Alexander Lurie

Founder | Real Estate Advisor
LICENSE NUMBER
01952347
ADDRESS
629 Divisadero Ave, San Francisco, CA 94117

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