Posted 12/6/2023, 12:32:39 AM
San Francisco Luxury Home Prices Plummet as Market Cools
- San Francisco home sold for $9.99 million after being listed for $19.99 million, showing drops in luxury housing market
- Median SF home prices down 2.3% as buyers pull back, 1 in 8 sellers taking losses
- High mortgage rates and economic uncertainty reducing demand and forcing sellers to cut prices
- Housing market expected to bottom out in 2024 before gradual rebound
- Lower cost markets like Phoenix, Austin, Minneapolis seeing more activity amid remote work flexibility