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What You Can Buy For $1.5 Million 

August 11 2018
August 11 2018

New data from the California Association of Realtors shows that housing affordability has hit a 10-year low throughout most of California, as three out of four state residents can no longer afford sky-high median home prices. From the beginning of 2018 to midyear, the percentage of people who can afford an average-priced home declined sharply from 31 to 26 percent.

In the San Francisco Bay Area, the situation is even worse, with only 18% of households able to afford a median-priced home.

On the peninsula, even $1.5 million doesn’t get you much. While it’s true there aren’t nearly as many Single Family Homes as there are Condominiums in this price range there are a few—here are some examples from San Francisco to Palo Alto.

A 3-story Victorian in the Inner Sunset. In need of a little TLC, the home is light-filled with comfortable spaces including a living room with a wood-burning fireplace and a formal dining room.
1,996 SF Interior
3,184 SF Lot size
Built in 1908
42 days on the market
$1,395,000 list price
Sold for 7.53% higher than the list price
Listing Broker: Joanne Xiang • Century 21 Realty Alliance


125 Nimitz

Rustic Farmhouse feel with gorgeous recycled Redwood plank siding inside. Spacious, open Great Room including kitchen, dining and family room with high beamed ceilings and back French doors which open to the patio. 
1,392 SF Interior
5,150 SF Lot size
Built in 1948
32 days on the market
$1,225,000 list price sold for 19.18% higher than the list price
Listing Broker: Shaler B Barnes with Cowperthwaite & Company


Rustic on the outside and updated contemporary on the inside with views toward Skyline and the western hills. Located in the desirable Los Trancos neighborhood in the middle of nature with lots of nearby outdoor activities.
1,205 SF Interior
20,003 SF Lot size
Built in 1952
46 days on the market
$1,398,000 list price
Sold for 3.43% less than list price
Listing Broker: Sharon Witte with Pacific Union International


Mid-Century Modern Eichler with vaulted ceilings, wall-to-wall windows, iconic radiant heat floors and two master bedrooms in the Greenmeadow neighborhood featuring excellent Palo Alto schools.
994 SF Interior
1,787 SF Lot size
Built in 1959
15 days on market
$1,350,000 list price
Sold for 11.11% higher than list price
Listing Broker: Travis R. Bertelsen, Sereno Group


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Amy Smart

August 17, 2018 3:24 PM

With the passage of time prices of homes are increasing. By the research of essay services uk prices of homes can depend on the areas where homes are located. People can purchase home according to the market value of home.