San Francisco properties are surging in price even though the market is facing difficulties in homebuyer demand.Homes worth between $1.5 and $5 million grew 0.66 percent in prices in November, according to the November San Francisco Residential Listing Data report.Meanwhile, homes worth between $5 million and $15 million climbed by 3 percent in prices, bringing the average price from $7.77 million to $8 million.The time of the year may play a role in the slightly increasing prices.
'High mortgage rates are pricing Americans out of home ownership across the country, and San Francisco, which boasts some of the highest prices in the nation, experienced a drop in demand since the pandemic.Currently, the average San Francisco home is $1.26 million, up just 0.1 percent year over year, according to Zillow.