San Francisco Condominiums
Posted on February 7, 2009 in the Real Estate category
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Short sale and discounted foreclosure in San Francisco bay area has median real estate sales prices down significantly and made it affordable many of its San Francisco condominiums that were out of reach for many condo buyers.
The prices real estate have fallen significantly in the bay area, according to one real estate information service the price have fallen as much as 6.7 percent. The average sales price of San Francisco condominiums were at $629,000 in November of 2007 but now it has declined to $375,000 down 44.4 percent.
For the last couple years many potential buyers were sitting on sideline as the prices were at all time for last few years. Many top restaurants, bars, and entertainment in downtown offer excitement and fun for those who enjoy little adventure. It is much better than renting and apartment, in the past were better options, but with lower prices it is making it more within reach for those who have down payment money and good credit.
San Francisco condominiums can have price range anywhere from $400,000 to over $1,000,000, where in recent years have seen new condo developments in areas like Sea Cliff, St Francis Wood, and Sunset.
Because of good weather all year around and many local places to visit like Lake Tahoe, it makes these condos more desirable and are good investments.
High rise San Francisco condominiums are bright side of the market in the area south of the Market, where luxurious condominiums abound. Even in this recession, selling a penthouses and luxury condominiums have been no problems to brokers, especially those in upper part of the building, where price continues to climb 15 to 20 percent. Less commute times are causing many executives to buy these condos.
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