Condo prices in San Francisco's greater downtown area aren't exactly the hot ticket right now.
The downtown condo market has seen larger price reductions than any other market segment in the Bay Area with a year-over-year decline of 16% in median sales price, which is double the figure for other parts of the city, where the median price of condos dropped 7% in the last year. He also noted that foreign buyers who used to play a significant role in snapping up units in new-condo projects have dwindled over recent years due to anti-immigration laws and the pandemic.
"When a growing number of sellers compete for limited supply of buyers, the main option on the table is to reduce prices," Carlisle said. "Buyers may well be able to get the best prices in the last five-plus years, and that's not a small incentive to consider."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pinterest-occupied SoMa office to become available for lease - San Francisco Business TimesPinterest has indicated that it is finding it 'increasingly difficult' to navigate its workplace culture, particularly as the company transitioned to a flexible work model, with a majority of its employees working remotely.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Four Seasons Napa Valley owners sued for unpaid construction work - San Francisco Business TimesHalf a dozen entities have filed liens on the property worth $3.8 million or sued the current and former property owners.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Independent contractor rule could trip up small businesses - San Francisco Business TimesThe Department of Labor is planning a new rule that could have significant implications for businesses employing independent contractors. Here's what businesses need to know.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Apartment cooldown continues nationally as rents drop for third consecutive month - San Francisco Business TimesAmong larger metropolitan areas, tech-centric cities are seeing more pronounced apartment rent declines, which could be correlated with job losses being disproportionately felt in those places.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Pinterest-occupied SoMa office to become available for lease - San Francisco Business TimesPinterest has indicated that it is finding it 'increasingly difficult' to navigate its workplace culture, particularly as the company transitioned to a flexible work model, with a majority of its employees working remotely.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Largest Banks in the East Bay - San Francisco Business TimesLargest Banks in the East Bay
Source: SFBusinessTimes - 🏆 78. / 68 Read more »