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San Francisco Real Estate Update – January 2011

Yet again, Luba’s San Francisco Real Estate Blog brings you latest San Francisco Real Estate market report here. (You can also view previous market updates by selecting the archives on the upper right portion of the screen). Heres’s a little glimpse of the report:

Prices for single-family re-sale homes began the year by declining.

The median price for homes dropped 7% from December and was off 15.1% year-over-year.

Home sales were also down from December, but that is normal. Year-over-year, home sales were up, for the second month in a row, by 19.8%.

Home sales momentum continued trending downward, dropping a percentage point to +6.