Are sellers cutting prices in San Francisco?

Yes, sellers in the San Francisco area are reducing prices. About 13.4% of all homes for sale have seen a price cut. This is slightly up from the same time last year. The share of homes with a price reduction is 13.4%. This means more than one out of ten homes on the market have had their price lowered by the seller. This percentage has increased by 0.5% compared to the past year. The median listing price in the area is $957,475. This is 1.8% lower than it was last year. The average listing price is also down by 3.9% year-over-year, now at $1,447,907. Even with fewer new homes coming on the market, total active listings are down 10.9% from last year. Homes are also selling a bit faster, with the median time on market at 37 days, which is almost 10% quicker than the previous year. For sellers, it's important to price your home correctly from the start. For buyers, these price reductions might offer opportunities to find a home for less than its original asking price.

{ "answer": "Yes, some sellers in San Francisco are cutting prices. About 13.4% of homes for sale had a price reduction in the most recent month.", "paragraphs": [ "This number shows that more than one in ten sellers felt the need to lower their asking price. This is a small increase from last year, up by 0.5 percentage points.", "Looking at the overall market, the median listing price is nearly $957,500. This price went up by 5.1% from the previous month but is still a bit lower than it was a year ago, down by 1.8%.", "The average listing price, which is higher at about $1.45 million, also shows a decline. It\