The number of single-family homes and condos in contract to be sold in San Francisco is currently 22 percent lower than at the last time last year, at which point pending sales were over 30 percent lower than in 2021. And in fact, pending home sales in San Francisco remain at their lowest point, on a seasonally adjusted basis, in over six years.

At the same time, the average asking price per square foot of the homes which are in contract remains around $900 per square foot, which is only 4 percent lower than at the same time last year but down 10 percent from last year’s peak, none of which should catch any plugged-in readers by surprise.

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