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San Francisco California Real Estate - San Francisco, California Real Estate Market Overview

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While much of the state of California has gone through a rollercoaster ride of a real estate market, the San Francisco, California real estate market has faired pretty well over the past few years in comparison. While it has done well compared to the rest of the state, the San Francisco, California real estate market has experienced some decline over the past few years.

While the San Francisco, California real estate market has always been one of the most expensive in the country, the city still saw strong housing price increases from 2004 until 2007. In that time, the median sales price in the San Francisco area increased from around $650,000 to $800,000. As the bubble burst, the median sales price in the San Francisco, California real estate market did experience a noticeable decline. The median sales price in the city fell about 13%, and is now around $700,000. However, it appears the decline has stabilized as prices have remained consistent for the past few quarters. While the decline does seem sizable, it is nothing compared to other areas of the state that saw their median sales price cut in half.

Despite the high prices in the city, the rate of foreclosures in the San Francisco, California real estate market is rather low. In February of 2010, only 1 in every 743 households in San Francisco received a notice of default. That rate of default is significantly lower than the rate of default across the entire state of California. The median listing price for a foreclosed home in San Francisco is around $625,000. This means that if a large portion of the foreclosed homes are purchased, the median sales price city-wide is likely to decrease.

San Francisco Condominiums - A Guide to San Francisco Condominiums [next] [back] San Diego Real Estate For Sale - Browse listings of San Diego real estate for sale

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