Condominium? I think you mean Condo-Maximum. 🙌🏽

Another Thursday is upon us, and as we ease into the weekend, we’re tracking the sudden surge in the SF condo market (TLDR, no, everyone did not flee to Texas). Plus, some speculation on what work-life might look like post-pandemic, and what that might mean for home buyers and sellers.

Stop. Condo Time.

What’s this all about?

The Great San Francisco Exodus of 2020 seems to be winding down. As the fourth quarter came to a close last year, San Francisco’s condo market heated up, boosted by low mortgage rates, cooling prices, and increased supply. Closings were up 8.7% over last year, and the average price per square foot fell 10.4%, to $1,056 — the lowest it’s been in five years.

What it means

It means it might be time to buy a condo. The buying trend continued into January, which some interpret as a sign that those who fled cities at the pandemic’s outset are starting to return, while others who may have struggled to buy pre-pandemic are now having an easier time. And though these figures largely pertain to the eastern half of the city, they are encouraging. We never bought into the hype about “the end of San Francisco” anyway. So yeah, let’s get you that condo!

My Post-COVID Life

What’s this all about?

Vaccines are finally arriving, so many are thinking about what work will look like once it’s safe for us to be together again. And in a state that invented the all-in-one workplace — with chefs on staff and perks galore — one wonders what the post-pandemic will bring.

What it means

While most seem to be hoping for a better balance between working-from-the-office and working-from-home, opinions vary. Logan Mohtashami, a data analyst with Housingwire, thinks things will more or less return to the way they were, with WFH more a fad (like swing dancing in the 90s) than a cultural sea change.

On the bright side, Mohtashmi suspects the pressure on the housing market — limited supply, high prices — will ease once our commutes resume. Only time will tell, but we’re eager to find out.

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That’s all we’ve got for this week. Thanks for reading. Happy weekending!