Bay Area Homebuyers Benefit from Lower Prices This Year

The Bay Area saw the largest annual decline in California home prices (-3.2%) and sales (-3.5%), with sales down nearly 22% from the previous month. San Francisco's median price rose 12.6% to $1.8 million, but sales dropped 9.7%. Marin County had the biggest price drop at 9.5%. Statewide, home sales rose 2.6%, with the Far North region seeing the largest price increase of 2.7%. Layoffs in tech firms contributed to Bay Area market softness.