With pending home sales in San Francisco having just dropped to a seven-year low in the absolute and the asking price per square foot of the homes in contract across the city having averaged under $900 in the fourth quarter of 2023, which was 3 percent lower than in the fourth quarter of 2022, 8 percent lower than in fourth quarter of 2021, and lower than prior to the pandemic as well, the average list price per square foot of the homes on the market in San Francisco ticked down last week to around $970 per square foot, which is 4 percent lower than at the start of 2023 and over 10 percent below peak. At the same time, inventory levels are poised to jump. We’ll keep you posted and plugged-in.