Hello Empty Nester,
My count shows 14 single family homes above $2 million have sold in the City of San Francisco thus far in 2009. That's 14 out of 290 total, or 4.8% of all total single family home activity. Interestingly, the same timeframe in 2008 registered 51 sales above $2 million out of 396 total sales (or 12.87%). It looks like activity in the $2 million+ range is definitely down in 2009.
If you happen to own a condo, tic, loft, or stock cooperative, the stats are a little different. So far only 9 sales of these property types have taken place in 2009 above the $2 million mark. That's 9 of 244 total condo/tic/loft/co-op sales, or 3.7% of the total. The same timeframe last year registered 18 sales out of 459 total, or 3.92%.
In either scenario, volume is down. The difference in my stats and Lance's is that I constrained my results to the City of San Francisco only. Lance's incorporates more areas. Both are telling of what is going on out there right now with regard to the $2M+ market.
If I can provide any further stats, analysis, or regular updates, feel free to contact me anytime. I also have a section on my blog purely dedicated to market stats for SF. You can check it out here if you wish: