South San Francisco's real estate market is currently hot with low inventory and high demand. The median home price of $1,218,000 represents a moderate 6.4% increase from this time last year. At the current pace, all available homes in South San Francisco would sell out in just 0.8 months, indicating a continued supply shortage. Transaction volume is up 39% compared to what's typically expected this time of year. Only 5.3% of listings saw price reductions, suggesting sellers are confident in their pricing. The majority of homes (60.0%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the South San Francisco market with the affordability index at 113.9. Based on current market indicators, home prices in South San Francisco are projected to decrease by approximately 18.1% over the next month.
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