Stabilization in the SF market?

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San Francisco condos appreciated rapidly between 2000 and the peak value years of 2006-2008. (The spike actually began in 1996.) Then, after the 2008 market meltdown, median prices declined rapidly in these areas by 15–22%. Since 2009, they have either stabilized or fluctuated within a relatively narrow band. Small percentage changes in median price are not particularly meaningful until consistent over the longer term. San Francisco may be at the beginning of a new upward trend, but it’s too early to tell.

This graph is not proportional to the timeline, so the spike between 2000 and 2006 appears more dramatic than it was.