The housing market in San Francisco is easing into its seasonal slowdown, according to a new report from Paragon Real Estate Group, which is based in the city. The city’s luxury segment, which is most susceptible to seasonal changes, tends to plunge in November before hitting its lowest point in December. The sector then ramps up in the first quarter of the new year before reaching its peak in the spring. Will the market continue to see flurries of low supply and high demand come spring, or has it finally reached a plateau? Here’s a look at where the high-end home market stands: • More residences were sold for $1 million to $1.49 million in the year to Nov. 30 than any other price range in the city. More than 840 condos were sold in this range; there were 640 house sales. • The center of the luxury market is shifting from the city’s northern neighborhoods to districts such as the greater Noe Valley area and South Beach/Yerba Buena. • The most expensive houses in the city continue to be sold in Pacific Heights, where homes typically sell for $5 million or more. • The greatest number of luxury condos were sold in the South Beach/Yerba Buena/Mission Bay/SoMa area. A total of 133 luxury condos were sold in these neighborhoods in the year to Nov. 20 for an average of $1,352 a square foot. Paragon defines luxury homes as houses that sell for $2 million or more. It defines luxury condos as those selling above the $1.5 million mark. In total, 480 high-end homes were sold in the year to date; 665 luxury condos found new owners. Read the full report here.
Related: Thousands of New Apartments to Rise in San Francisco Write to Gina Faridniya at gina.faridniya@dowjones.com