2022 has been a tough year for luxury homes on the public market.
, when luxury homes enjoyed an unprecedented demand both nationally and locally in San Francisco.Starting in 2020 and rising to a crescendo in 2021, the pandemic changed homebuyer priorities. The desire for sanctuary put a premium on large homes on large lots, properties that could offer work-from-home offices, gyms and outdoor amenities.Last year, the median sale price of U.S. luxury homes jumped 26.5% to a record-breaking price of $990,000 in the second quarter of 2021.
By mid-2022, economic conditions such as rising inflation and interest rates coupled with falling stock values “started to let the air out of overpressurized markets,” Carlisle said. But, he hastened to add that this past year was not “a crash on the highway at high-speed; nothing like the 2008 meltdown, but a significant slowing nonetheless, a decline in confidence and an increase in uncertainty.
Here are the three most expensive listings of 2022, all three of which, it appears, will have to wait until the new year for a new owner.1. 3450 Washington St.
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