The median price of a home for sale in San Francisco has dropped recently, but it’s up compared to this time last year, according to real estate analyst firm Redfin.
Redfin said the San Francisco median price is $1.488 million, a decline of more than 5% from November to December.
Redfin chief economist Daryl Fairweather said the holidays slow down buying and selling, adding long-term perspective is important.
#New: Bay Area housing prices.
Median home price (change from last year):San Francisco: $1,475,000 (+10%)
San Jose: $1,300,000 (+23%)
Source: @Redfin
— scott budman (@scottbudman) January 14, 2022
“I wouldn’t read too much into the monthly decline,” Fairweather said. “I think the important thing is that home prices are up 10% from this time last year. That’s the measure that I think reflects how the market is heating up a bit.”
Redfin said, depending on how mortgage interest rates go, it expects that heat to keep going up.
Article source: https://www.nbcbayarea.com/news/local/median-san-francisco-home-price-down-recently-but-up-compared-to-last-year/2778761/