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California condo prices plunge in San Francisco, worth less than decade ago

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California condo prices plunge in San Francisco, worth less than decade ago


Despite recent signs that San Francisco is on a path to economic recovery, condos in the city are yet to make a comeback, as several sellers are still slashing their asking prices to try to attract reluctant buyers.

As of Tuesday morning, there were a total of 687 condos listed for sale on real estate marketplace Zillow in San Francisco. Of these, 87 had price reduction—over 12 percent of all listings. Vacation rental investor Rohin Dhar, who often shares Zillow listings with dramatic price cuts on social media, wrote on X, formerly Twitter, about a one-bedroom condo unit in downtown San Francisco; it was recently sold for $680,000, down from the sum of $825,000 it fetched when it was purchased in 2015.

“As condo prices have declined in downtown San Francisco, one bedroom condos have been hit particularly hard,” Dhar wrote on the social-media platform. “Are you generally just better off renting than buying a one bedroom apartment?”

More From Newsweek Vault: Should I Buy a House Now or Wait? How to Determine the Right Time to Get a Mortgage

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The Zillow listing shows that the asking price for the property, which was sold on August 7, was reduced four times by the seller since the property was put up for sale in May this year for an initial asking price of $750,000—already much less than its 2015 price. The condo was built in 2009, and homeowner association (HOA) fees are $707 per month.

Dhar shared the listing for another one-bedroom condo unit in downtown San Francisco, which is now being sold for less than it fetched in 2005—about two decades ago. The 618 square feet condo at 260 King Street was sold for $505,000 in November 2005; 10 years later, in June 2015, it was sold again for a higher sum, $615,000; and in 2018, it was purchased for an even higher $670,000.

Now the condo’s seller is trying to get significantly less for the unit. The condo was listed in February for $579,000, and since then, has seen three different price cuts. On August 1, the asking price was lowered to $498,000, but the unit remains unsold. The condo was built in 2004—which means it is 20 years old—and HOA fees are $980 per month.

More From Newsweek Vault: How Much Is My House Worth? How to Determine Your Home’s Value

A view of homes and apartments on June 13, 2018 in San Francisco, California. Condos in the downtown are still seeing drastic price reductions by sellers, despite hopes that the city’s real estate market might…


Justin Sullivan/Getty Images

Condo prices in San Francisco have seen significant drops since the pandemic, as the city faced a mass exodus of workers, especially in downtown, as well as office and retailers’ closures. Between February 2020 and February 2024, San Francisco’s condo values plunged by 12.8 percent, according to Zillow data, from $1.14 million to $997,000.

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While some condo owners are still slashing listed prices and office buildings remain vacant, there have been reports that the situation is starting to change in San Francisco.

More From Newsweek Vault: The Hidden Costs of Homeownership

Patrick Carlisle, chief market analyst at Compass, recently told the San Francisco Chronicle that the city’s condo market will face a significant rebound this year, pointing at his company’s data showing that the median price of a condo rose by 5.6 percent between December 2023 and February 2024 compared to the same stretch of time in 2022-23.





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Iran conflict disrupts flights out of SFO

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Iran conflict disrupts flights out of SFO


SAN FRANCISCO (KRON) — Attacks on Iran by U.S. and Israeli forces have disrupted air travel across the Middle East, leading to thousands of flight cancellations and delays worldwide. The instability has reached the Bay Area, where international flights at San Francisco International Airport have been canceled or grounded. The travel disruptions followed retaliatory strikes […]



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Hundreds Rally in San Francisco Against U.S.-Israel Strikes on Iran | KQED

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Hundreds Rally in San Francisco Against U.S.-Israel Strikes on Iran | KQED


She acknowledged that Iranian Americans hold a range of political views, including some who support U.S. intervention, but said she believes the future of Iran should be determined by its people.

“The Iranian people in Iran can decide the future of their country,” she said. “War, I don’t think, is going to help.”

Speaking to the crowd, Mortazavi challenged what she described as a narrative that Iranians broadly support U.S. and Israeli military action.

“They want you to believe that every Iranian … is cheering on the United States and Israel,” she said. “That is unequivocally false.”

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She urged attendees to continue organizing beyond the rally and announced plans for additional demonstrations.

A demonstrator holds an Iranian flag as protesters gather outside the San Francisco Federal Building during a “Hands Off Iran” rally Feb. 28, 2026, in San Francisco. The demonstration called for an end to U.S. involvement in the strikes on Iran. (Gustavo Hernandez/KQED)

Dina Saadeh, an organizer with the Palestinian Youth Movement, said multiple groups mobilized quickly in response to the strikes.

“I’m angered today,” Saadeh told KQED. “People here don’t want to see our country engaged in more endless war.”

Saadeh described the protest as part of a broader effort to oppose sanctions, military escalation and what she called U.S. imperialism. She said participants were calling on elected officials to redirect public funds toward domestic needs.

“People want money for jobs and education, not for war and occupation,” she said.

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KQED’s María Fernanda Bernal contributed to this story.



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Sam Smith’s San Francisco Residency Charts New Course for the Castro

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Sam Smith’s San Francisco Residency Charts New Course for the Castro


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Sam Smith has kicked off his residency at the Castro Theatre in San Francisco, with the singer’s 20-date stint helping to officially usher in a new era for the historic landmark.

First erected in 1922, the Castro closed in 2024 for a reported $41 million renovation project. But the century-old Spanish-style Baroque theatre is open for business — and music — once again, with its gilded ceiling and ornamental walls restored to its original design, while seating is now reconfigurable for different events, including 650 seats that can be removed to create more standing room space (like for Smith’s concert). More importantly, city officials hope the re-opening of the Castro Theatre will also help revive the predominantly queer neighborhood it sits in, which shares a name with the venerable venue.

“Do you guys realize how special this street is?” Smith asked the sold-out crowd, during night two of their residency last week. “I grew up in a village in the middle of f-ckin’ nowhere,” they shared. “I was the only gay in the village and yes I was very dramatic about it as well,” they added with a laugh.

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“There is nothing like this street and nothing like the Castro and the community here,” Smith said. “I’ll never forget coming here when I was 20 years old, so reopening this theater now is such an honor.”

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Tickets to Smith’s Castro residency quickly sold out when the shows were first announced but you can still find stubs on sites like StubHub, Vivid Seats and SeatGeek. New users can use the promo code THR30 to save $30 on orders of $300 and up at VividSeats.com. SeatGeek customers can use promo code HOLLYWOOD10 to save $10 at SeatGeek.com.

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Smith’s San Francisco stint follows their “To Be Free: New York City,” residency which took place last fall at Brooklyn’s historic Warsaw club. Other artists set to play at the Castro this spring include Father John Misty, José González, Santigold and Lucy Dacus. The Castro will also help celebrate the 50th anniversary of the LGBTQ-themed Frameline Film Festival this June.

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Smith’s residency runs until March 14.

According to tourism officials and local businesses, Smith’s new Castro residency and the reopening of the theatre has already helped to bring in a number of new visitors to the area. Mat Schuster, the executive chef and owner of long-time neighborhood fixture, Canela, says business has been “very busy” in the last few weeks, crediting Smith’s show with bringing out new diners to the Spanish restaurant, which has been on Market Street since 2011. Other local hotspots like wine bar Bar49, the San Francisco outpost of Hi Tops, and the women’s sports bar, Rikki’s (named after Gay Games Federation founder Rikki Streicher), were all packed on a recent evening following Smith’s Castro concert.

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According to San Francisco Tourism, the reopening of The Castro Theatre is poised to deliver “meaningful economic gains” to the surrounding neighborhood, which some stats estimating that the venue will draw more than 200,000 visitors annually.

With the Castro Theatre now open again, local officials are looking ahead to other upcoming celebrations, including a planned reimagining of the Castro and Market Street intersection into The Memorial at Harvey Milk Plaza, honoring the first openly gay elected official in California (and the inspiration for the 2009 Sean Penn film). Milk’s legacy is already enshrined at the San Francisco airport of course, with terminal 1 at SFO renamed as the “Harvey Milk Terminal;” the new memorial is scheduled to be completed by 2028. The annual Castro Street Fair, meantime, a community street celebration founded by Harvey Milk in 1974, will take place on the first weekend of October.

The reopening of the Castro comes amidst a busy few months for San Francisco, which recently saw a number of athletes and celebrities in town for the Super Bowl. Steph Curry’s new speakeasy, The Eighth Rule, was among the hotspots over the big game weekend and the basketball star’s bourbon-forward bar continues to be a hot reservation in the city. Opened in the fall, the bar is tucked away in a nondescript hallway inside the Westin St. Francis hotel in Union Square, offering an intimate and exclusive setting for the Golden State Warriors point guard’s Gentleman’s Cut Bourbon, which can be ordered on its own or as part of a six-course omakase-style cocktail tasting (we loved the clarified coconut milk punch and the truffle-vanilla whiskey sour). Of course, guests can also order cocktails a la carte, choosing from different bourbons and whiskeys, plus a full selection of other spirits.

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Next door to The Eighth Rule is Bourbon Steak San Francisco, the latest outpost of Chef Michael Mina’s award-winning steakhouse. The restaurant marks the celebrity chef’s return to the Westin St. Francis, where he opened his first eponymous restaurant in 2004. In addition to its selection of steaks, seafood and caviar offerings (like Mina’s famous “caviar twinkee”), this Bourbon Steak outpost offers a family-style dining experience for six people, available through advance reservations. This is the only Bourbon Steak location to offer this communal table format.

New this month is the highly-anticipated opening of JouJou, an elevated French brasserie concept from the owners of the two Michelin-starred Lazy Bear. Located in the city’s Design District, JouJou is poised to be the next celebrity hangout, with its ornate dining room and marble-topped counters setting the scene for steak frites and star sightings alike. As chef David Barzelay told the San Francisco Chronicle when asked about the inspiration for JouJou: “It always feels like you’re just in a place where it’s happening.”



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