In November, home prices fell substantially from the month before, with a median listing price of $1,150,000.<\/p>\n
The number of listings on the market shrank 14.5% from last month, which is a bigger decrease than normal for this time of the year in San Francisco, and homes are also selling faster than at the same time last year.<\/p>\n
Home prices in San Francisco<\/p>\n
Typically, home price per square foot in San Francisco tend to fall in November. And the most recent data shows that the price per square foot decreased by 1.5% compared with the month before.<\/p>\n
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Golden City are larger the national market.<\/p>\n
San Francisco inventory<\/p>\n
In November, there were 758 homes for sale in San Francisco, which was 14.5% less than the month before and 30.6% less than the same time last year.<\/p>\n
Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266.<\/p>\n
The number of new listings in San Francisco was 308, which was 36.1% less than the month before and 2.5% less than the same time last year.<\/p>\n
Nationally, the number of new listings fell by 14.1% from last month to 330,908.<\/p>\n
Time on market<\/p>\n
Homes in San Francisco take an average of 67 days to sell, according to November figures.<\/p>\n
This is six days more than the previous month and four days less than the same month last year.<\/p>\n
For comparison, nationally homes spent an average of 64 days on the market in November.<\/p>\n