San Francisco Condo Prices Aren't Crashing
In this brief market commentary, Austin Klar explains that although more than 25% of San Francisco condo sellers have reduced their list prices in recent weeks, this rate is actually lower than the same period over the past two years, indicating that fewer sellers are forced to cut prices now compared to previous years. He notes that inventory levels are not rising sharply as they did early in the pandemic, and that the number of condos going under contract is up relative to the past two years. Consequently, demand relative to supply remains roughly the same as it was a year ago, even though interest rates have risen following the Federal Reserve’s recent rate cuts. Klar emphasizes that he monitors these trends as part of his job and offers to provide direct updates via a newsletter for viewers who DM their email, encouraging them to follow him for more Bay Area real estate insights.
