Average Asking Price in San Francisco Drops

With a third of the homes on the market in San Francisco having been reduced at least once and pending sales still down around 30 percent, year-over-year, the average asking price per square foot for a home in San Francisco ticked down another 3 percent over the past week and has dropped back under $950 per square foot.

As such, the average asking price per square foot for a home in San Francisco is now 7 percent lower than at the same time last year, as is the average price per square foot of the homes which are in contract, erasing the last of the pandemic-era gains.