San Francisco Annual Sales - $5,000,000+ Number of Luxury Home Sales by Year, since 2005*
199
Sales: $5 Million+
Sales: $10 Million+
200
Sales of higher-price homes are affected by buyer demand, the number of listings available to purchase, and appreciation trends – all of which are impacted by economic and demographic conditions. As appreciation occurs over time, homes that would have sold for under $5 million, then sell for over that price threshold (and vice versa if prices fall).
150
Though home sales of $5 million+ fell in 2023 (from the high sales volumes during the pandemic boom), $10 million+ sales were relatively unchanged from 2022 (though well down from the 2021 peak).
120
Pandemic market
100
92
84
79 78 80
75
71
Interest rates soar
62 62
2007 peak
47
50
37
Great recession
33
Market recovery and high-tech boom
28 27
26
24
28
14
16
16 15
14
13 11
11
10
9
8
7
7
6
5
3 3
3
2
0
*All attached and detached residential home sales reported to NorCal MLS Alliance per Infosparks. Data from sources deemed reliable but may contain errors and subject to revision. All numbers approximate, with last year’s total estimated based on available data in early January, and may change due to late-reported sales. Not all luxury home sales are reported to MLS. In SF, many new-project condo sales are not reported.
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