How is the San Francisco housing market doing?

The San Francisco housing market is seeing prices come down a bit, and homes are selling quicker than they were a year ago. The number of homes for sale is lower, which means fewer choices for buyers. Homes are also staying on the market for a shorter time.The median price for a home in the area is $948,500. This price is down by 4.8% from the previous month and 4.2% compared to last year. The average listing price is $1,456,746, which is also down by 6.7% over the past year.There are 5,593 homes currently for sale. This is 16.3% fewer homes than there were at this time last year. At the same time, new homes coming onto the market are also down by 7.1% over the past year, with 3,020 new listings.Homes are selling faster, staying on the market for a median of 39 days. This is nearly 12% faster than a year ago. About 14.3% of homes have had their prices cut, which is slightly less than last year.If you are looking to buy, you might find some relief in lower prices, and homes are still selling fairly quickly. If you are selling, understand that prices are a bit lower than they were, but homes are still moving.

The San Francisco housing market is seeing prices come down a bit, and homes are selling quicker than they were last year. While there are fewer homes for sale, they are still attracting buyers.The typical home in San Francisco is listed for $948,500. This is a bit lower than last month, down by 4.8%, and also down 4.2% compared to last year. This means prices are cooling off.There are 5,593 homes currently on the market, which is 16.3% fewer than this time last year. Despite fewer options, homes are moving faster. The typical home spends 39 days on the market, which is nearly 12% less time than last year.About 14.3% of homes have had a price drop, which is a small decrease from last year. This suggests that fewer sellers are needing to cut their prices to attract buyers.The market still has good buyer interest. There are 2,509 homes with pending sales right now. The pending ratio is 0.45, which is 6.1% higher than last year, meaning a greater share of active listings are going under contract.If you're looking to buy, you might find prices a little more favorable and homes selling relatively quickly. For sellers, homes are still finding buyers, but be aware that prices have seen some recent dips.