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Bad News on The Condo Front

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While it's no picnic on the overall scene either (-2.8%), the San Francisco MSA's condo prices were down in Sept. by 8.2% versus the same period last year. This was fifth worse in the country. Radar Logic's Monthly Housing Market Report [.pdf file] measures price using the "per square foot" metric, saying it's "a powerful tool . . . because it significantly reduces the influence of property sizes on overall housing trends." San Francisco MSA condos averaged $434.24 p.s.f., which seems pretty, well, affordable. Who the heck in this MSA (Alameda, Contra Costa, Marin, S.F., San Mateo counties) is pushing prices down? [Radar Logic]