San Francisco Residential 2-4 Unit Building Sales Number of Buildings Sold by Year
Over the past 25+ years, the condo and TIC conversion option first increased 2-4 unit building sales, but ultimately reduced the inventory of unconverted 2-4 unit buildings to sell. In 2020, the pandemic caused sales of tenant- occupied properties to plummet, but 2021 saw a rebound with the release of vaccines. Sales dropped again in 2022 & 2023 due to economic and demographic conditions – such as increasing interest rates, a decline in city population, the emptying out of downtown office buildings, and negative media coverage. Powered by a strong Q4, 2024 sales saw a small rebound.
900
800
700
600
500
400
300
Interest rates soar ↑
200
2008 market crash ↑
Pandemic hits ↑
100
Sales reported to MLS. Years 2001-2004 omitted. Data from sources deemed reliable, but may contain errors and is subject to revision. 2024 sales estimated using data available in early January 2025. All numbers are approximate, and may change with late reported sales.
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