Earlier this month, there was an invite-only reception at Vida, a condominium project being built next to the New Mission Theater…. Two days later, 20 units of the 26 available were in contract – and the building won’t even open until January.
If that sounds reminiscent of late 2007, when buyers lined up outside One Rincon Hill until the wee hours, it is. Median condo prices in San Francisco are now above $830,000, about 8.2 percent higher than the peak reached right before the economic crash in early 2008. The latest Standard & Poor’s/Case-Shilling home sales price index shows that San Francisco prices have jumped 23 percent in the past year….