San Francisco median home price hits plateau?

After soaring to the sky like Icarus, the San Francisco median price for sold homes has finally fallen. Not as dramatically as Icarus fell, mind you– more like a gentle downward current pushing that price point from $915K (for both condos and single-family homes) in May of this year, down to $870K in June and then slightly up from there to $879K in July, staying fairly flat into August.

Meanwhile, a perusal of the MLS for San Francisco homes listed within close range of the current median of $879K reveals a market still rather over-heated. For instance, this unit on Ashbury is 2 beds, 2 baths, 1,300 square feet, listing at $899K. It is a recent conversion to a condo, and includes a shared yard, 1-car parking and extra storage. Still, that’s almost $700 per square foot.

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