Happy 2021

Raffi’s Index

(January 2021)


Just as difficult 2020 was, it’s just as difficult to put it into words. So just as the Harper’s Index is a thing, here’s Raffi’s take on 2020’s housing market in San Francisco:


Number of closed San Francisco property sales (houses, condos, TICS, co-ops, 2-4 unit buildings) as reported on the Multiple Listing Service in 2019: 5,470. 

In 2020: 5,245.

Factor increase of canceled listings reported on the San Francisco MLS from 2019 to 2020: +1.78

Number of times the term “reduced,” (or similar variant) used in MLS agent or property marketing comments in 2019: 148. 

In 2020: 222.

Number of times the word “mask,” appeared in the MLS for homes that sold in 2019: 1 (reference to a Castro district house with a Victorian façade that masked a modern house behind). 

In 2020: 301. 

Minimum number of times the term “PEAD,” (the disclosure form required to visit properties during the pandemic) appears in all agent comments for properties listed on the MLS in 2020: 2,394.

In days, median time a property on the market before an offer was accepted in 2019: 17. 

In 2020: 22. 

Decrease in volume of MLS-reported sales volume of existing property sales from 2019 to 2020: -$343,902,822 ($8.9 billion total). 

On a square foot basis, median sale price for properties reported sold in the MLS selling in 2019: $986. For properties selling in 2020: $983. 

Difference between the two years: -$3. 

Raffis Index
Time for the Portfolio


Does a sale or purchase make sense with your numbers? 

More Data? 

We have plenty more where this came from. 


Hi, we’re Kevin Ho and Jonathan McNarry of Vanguard Properties in San Francisco, California. We’re partners in life and in business. Together with our big black Labrador retriever, Raffi, we are top producing Realtors in San Francisco’s competitive and valuable residential real estate market.

We truly love what we do and are passionately committed to our clients, their needs and advancing their interests. We represent both buyers and sellers with many repeat clients but we are always expanding our client base. Our belief is that by working with you you will make better informed decisions in this most important of areas of life.

We invite you to contact us to learn more and to start your success story now.

Some Quality Time?


To that extent possible, the information on this website is copyright protected. But other information such as links, articles and other ephemera are only reproduced here for educational purposes and may not represent our views or are otherwise approved by us. More important, whatever the source, remember to research all matters discussed here to your own satisfaction; trust but verify. 


Real estate is always changing and evolving. Because it’s based on people and people are, well people. Therefore, real estate can be complex and as fickle as it is surprising. And while the information and knowledge on this site is considered to be accurate and correct, it cannot be warranted. Market conditions in San Francisco, in California, and the world can change with a tweet or a sneeze and is beyond anyone’s control as hard as we try.

In San Francisco, things like local, state and federal tax regulations can change quickly leading to big implications that take time to be realized or appreciated. Other factors like rent control rules, eviction control, lending practices and standards, building and zoning regulations are just a few of the other things like pandemics, forest fires or mortgage rates that can change with little or no notice. All of these things and other intangible factors may well impact market values and performance. So keep your wits about you and keep in touch with us. 

Kevin is a licensed California attorney but focuses on real estate about 99.9 percent of the time. It’s important to note that while you can’t take the attorney out of him he will not be acting as your attorney here. To the larger point, you should also seek out qualified folks who work in their respective sectors if you have further questions about X, Y or Z; we have referrals too if you need. 




©  2011-2021, Kevin Ho, Jonathan McNarry, RTI, Inc.

All rights reserved.

Kevin K. Ho, DRE 01875957/SBN 233408

Jonathan B. McNarry, DRE 01747295

Vanguard Properties
2501 Mission Street, San Francisco, CA 94110
555 Castro Street, San Francisco, CA 94114

Privacy Cookies. Mmm. Cookies. 

We’ve been told that our website may be using cookies — the electronic ones — not the ones that Cookie Monster loves. These cookies, tracking pixels and related technologies are small data files that emanate from our server or platform and are stored on your device or browser.

Our site uses cookies developed by third parties for a variety of purposes with the most important ones to us being focused on supporting our abilities to support our clients — current and future — as they look for San Francisco real estate services.

Also, cookies may also be used to track how you use our site, which, of course, may give rise to seeing related advertisements on other websites you visit. To comply with the California Consumer Privacy Act, we have deployed various measures you may see on this site. If you have a question or concern, feel free to contact us at [email protected]. We want you to be aware that your personal information stays private with us as we employ SSL standards among other protocols to safeguard private information.