Sales of Luxury Homes in San Francisco at an All-Time High

The San Francisco Chronicle is reporting that sales of luxury home in San San Francisco during the second quarter of 2014 was 291 more than double the pervious peak of 142 which was established in 2007. “Luxury” is defined as single-family homes with value of at least $2 million or condos selling for $1.5 million.

In contrast, total sales of all homes in san Francisco actually decreased with 1,498 being sold this year as compared to 1,593 sales in the second quarter of 2007. It was also reported that appreciation rates for luxury properties was greater than the average home increases.

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