Weekend Events and the Weekly Real Estate Update

March '16 - It's Friday

It’s a jam packed weekend in San Francisco, with the 2016 Autumn Moon Festival being celebrated in Chinatown this Saturday and Sunday from 11am to 6pm. The event is an important cultural gathering and has been celebrated in Asia for over 1,000 years. Be sure to try the popular mooncakes, a traditional holiday treat.

For all you chocoholics out there, get yourselves down to Ghirardelli Square this weekend, where the annual Chocolate Festival will be taking place! Don’t miss the Ghirardelli Chocolate earthquake ice cream eating contest which is a highlight of the celebration each year. If this sounds like your type of festival, you can find more mouthwatering information here.

Finally for a relaxed Saturday evening, head to Precita Park in Bernal Heights and enjoy the Bernal Heights Outdoor Cinema beginning at 6:30pm. Local filmmakers and musicians will be showcasing their work throughout the evening for you to enjoy!

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 9/4/16 – 9/10/16:

A report recently posted on CurbedSF provides some context in regard to the high cost of real estate in the San Francisco metro area. Of course, it’s no secret that we have long paid a premium price for homes here.

In 1986 San Francisco was the most expensive market in the nation, with a median home value of $160,955. 30 years later, it’s still ranks as the most expensive market in the nation, with a median home value now of $1,058,474. That’s a gain of 557.6 percent – the highest percent gain in the country!

It’s interesting to note that 16 of the 20 most expensive markets in 1986 are still on the list in 2016. Portland, Ore., Seattle, Denver, and Washington, D.C. replaced Dallas, Hartford, Conn., Worcester, Mass., and Riverside, Calif.

The bottom line is you pay a premium when you purchase property in San Francisco, but historically the returns on these investments have far exceeded the returns generated in other real estate markets.

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