Are home prices going up or down in San Francisco?

{ "answer": "Home prices in San Francisco have been going down recently. Both the median and average listing prices are lower than they were a year ago and even in the most recent month." }, { "answer": "The median listing price right now is $911,375. This is 3.9% less than last month and 5.0% lower than the same time last year. This means homes listed in the middle of the market are generally asking for less money than before." }, { "answer": "Looking at the average listing price, which is currently $1,393,623, we see a similar trend. This is 7.4% less than what homes were listed for on average a year ago. The median price per square foot has also dropped by 3.8% over the past year, now at $619." }, { "answer": "Even with fewer active listings compared to last year, the price reductions suggest that buyers have more leverage. About 13.9% of homes have dropped their asking price, which is slightly less than a year ago, but still a notable share." }, { "answer": "If you are looking to buy, these price declines could mean you might find better deals than those available in the past year. If you are thinking of selling, be aware that homes are generally being listed at lower prices." }

Home prices in San Francisco are currently going down. The typical home is listed for $948,500, which is less than in previous months and compared to last year. This trend means that homes are becoming more affordable. There are fewer homes for sale right now, with 5,593 active listings. This is 16.3% less than last year, meaning fewer choices for buyers. Fewer new homes are also coming onto the market, down 7.1% from last year. Even with fewer homes for sale, properties are sitting on the market for 39 days, almost 12% quicker than last year. This suggests homes that are priced right are still selling fairly quickly. About 14.3% of homes have had their prices cut, a slight decrease from last year. This indicates that fewer sellers are having to drop their prices to attract buyers. For those looking to buy a home, the current market shows prices are easing, which could be a good opportunity to find a home for less than it would have cost a year ago.