Having dropped over 10 percent from early last year, the asking price per square foot of the homes on the market in San Francisco is now averaging around $970 per square foot.
At the same time, with the average asking price per square foot of the homes which are in contract to be sold having dropped back under $900 per square foot, and sales down, the expectation gap between the average price per square foot of the homes which remain unsold versus those which are in contract is now trending back up and is back over 10 percent having averaged around 7 percent in the third quarter of this year.