It's getting harder to find a home for under $1 million in San Francisco—only a quarter of the houses recently sold in the city have been under seven figures, reports Kevin Truong of the San Francisco Business Times.
Median two-bedroom house prices in San Francisco have risen to $1.35 million, and so far in 2016 the proportion of sales under $1 million sits at only 26%. This represents a big decline from 2011, when a full three-fourths of San Francisco house sales were under seven-figures, writes Truong, who digs into a new report from Paragon Real Estate Group.
Condos have become a more affordable alternative to houses, but prospective buyers may still face some sticker shock. During the first half of 2016, the median condo price is $1.1 million, with vast disparities depending on location.