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California  + Bay Area  | 

San Francisco Luxury Home Sales Volume Surges Again

After a significant drop in San Francisco luxury home sales in late 2015 to mid-2016, amidst considerable financial market and political volatility, the number of sales bounced back in 2017 to hit new highs in sales volume. Paragon Real Estate’s latest research shows, so far in 2018, luxury home sales in San Francisco have been higher than in any previous year since the recovery began in 2012, perhaps driven by economic confidence that has been sweeping the nation.

Paragon notes, for example, mid-February sales numbers of condos, co-ops and TICs at prices of more than $2 million jumped 55% in the city, year over year, and luxury single-family homes increased 19%.

However, behind the positive sales statistics, inventory statistics provide a note of caution, especially in the ultra-luxury home segments ($5 million+ houses and $3 million+ condo/co-op properties). In the ultra-luxury segments, the supply of listings has been surging beyond demand, with many listings expiring without selling. The supply-and-demand dynamic has been greatly affected by new condo projects targeting the very high end, with more projects coming.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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