This is city- and neighborhood- dependent. San Francisco as a whole is seeing 8% YoY gains [1], while Menlo Park has seen 0% median sales price growth [2]. Near

This is city- and neighborhood- dependent. San Francisco as a whole is seeing 8% YoY gains [1], while Menlo Park has seen 0% median sales price growth [2]. Nearby Redwood City is seeing 10% growth [3]. The rate of increase is lower than in 2017, but most places in the SF Bay Area are still experiencing high growth rates. Those rates are apparently more in line with historical norms rather than the white-hot multiple-cash-offers waived-contingencies heyday of 2016 and 2017. I don't doubt that there are many price drops. Realtors expecting offers 30% over ask likely were setting list prices with too much growth expectation and had to reset to the comparables' sales price. Last year using the current comps' sales prices would have been listing the home too low. 1. https://www.trulia.com/real_estate/San_Francisco-California/ https://www.trulia.com/real_estate/San_Francisco-California/ 2. https://www.trulia.com/real_estate/Menlo_Park-California/ https://www.trulia.com/real_estate/Menlo_Park-California/ 3. https://www.trulia.com/real_estate/Redwood_City-California/ https://www.trulia.com/real_estate/Redwood_City-California/