San Francisco experienced the largest year-over-year decrease in median home sales prices of any metro in the U.S. in December, ending 2022 very differently than how it started. Prices were down 5.1% compared to the previous year, according to RE/MAX’s national housing report.
Even with prices down, though, and the “first buyers’ market in years,” real estate agent Colleen Cotter with Vanguard Properties said buyers have realized they can be more selective, which means some homes may linger on the market. “The ability to have contingencies and be more picky is a real rarity in San Francisco,” she said. “The good properties will still move quickly. Those with some challenges could sit for longer.”
Read More:SF home prices fell more than anywhere else in US last month