Where should young professionals live in San Francisco?

The city of San Francisco-Oakland-Fremont, CA, might be a bit of a challenge for young professionals right now due to current housing costs, though there are some positive trends in the market. The median listing price is around a million dollars, with the average listing price even higher. To make a smart move, you'll want to consider several factors beyond just the sticker price. This market is shifting, and paying close attention to the details will help. The median listing price in San Francisco-Oakland-Fremont, CA, is $996,500. This number has stayed pretty stable recently, with only a tiny dip of 0.2% both month-over-month and year-over-year. However, the average listing price is noticeably higher at $1,503,992, which has come down a bit, by 5.6% over the last year. You'll find fewer homes on the market compared to a year ago, with active listings down by 17.4% to 5,944. There are also fewer new homes being listed, down 7.6% over the past year to 3,500. Homes are selling a bit faster, too, staying on the market for 37 days, which is 7.6% less time than last year. Fewer sellers are lowering their prices. The share of homes with reduced prices is 13.1%, a drop of 3.7% from last year. More homes are also going under contract; the pending ratio is 0.49, which is up 10.0% compared to a year ago. For young professionals, this means you might face a competitive market with high prices. However, there are some hopeful signs like the slight decreases in both the average listing price and the median price per square foot. Take your time, really understand what you can afford, and be ready to move quickly once you find a place that fits your budget and lifestyle.

There are fewer homes to choose from in San Francisco right now, but those available are selling a bit faster and for slightly lower prices than last year. The median listing price is close to one million dollars at $996,500. This is a very slight drop of 0.2% both from the most recent month and from the same time last year. You'll find about a fifth fewer homes for sale now than there were a year ago. Right now there are 5,944 active listings, which is down 17.4% from last year. New listings are also down by 7.6% over the past year, with 3,500 homes recently put on the market. Homes in San Francisco are spending less time on the market, meaning they are selling faster. The typical home is on the market for 37 days, which is 7.6% faster than last year. Also, fewer homes have had their prices cut, with 13.1% seeing a price reduction, down 3.7% from last year. The typical home is listed at $649 per square foot, which is 4.2% less than a year ago. If you’re a young professional looking to buy, there are fewer homes on the market, but prices have come down a bit, and homes are selling quicker, so be ready to act fast.