San Francisco, CA housing market

San Francisco sellers have something rare right now: almost no competition. There were just 653 homes for sale at the start of June, and only 374 new listings came on during the month. That thin supply is doing real work. The typical home value has climbed to about $1.37 million, up roughly 10 percent over the past year, and only about 4 percent of listings have cut their price. When barely one in twenty sellers is discounting, it tells you homes are priced right and finding buyers. They are not flying off the shelf, though. The median home sits for about 57 days, so buyers are taking their time even with little to choose from. One more thing worth noting: the median list price, around $1.28 million, is actually below the typical value, which suggests sellers are pricing to move rather than to test the ceiling. If you have been waiting for a moment to sell, this combination of rising values and scarce competition is hard to argue with.