That is a hard question to answer, but I can tell you this there are several stress factors pushing the SOMA real estate prices down. They include the following
1) There is a fairly large inventory of properties SOMA
2) FHA Loan amount limits are declining in San Francisco to $625,500, from the current $729,950 limit soon. Many banks have already started this process, shrinking the buyer pool for more expensive condos
3) Tighter lending requirements require approval not only credit but approval of buildings based on number of owner occupied v rental, number delinquent in HOA fees, etc.
4) Less people have the money for the downpayments or are employed to afford house ownership in SF reducing the number of buyers.
Among all these factors they have been driving prices down. See Zip Code 94103 (the Zip Code for SOMA) on my website http://www.gbandas.com/condo-market-report.html
and you will see that the Median List Prices of Condos has declined to $484,000 from over $600,000 around September of last year.
My suggestion to you is to just continue to follow websites and data to see when the prices start trending up and when you start seeing a change in the factors previously mentioned. At that point you should see SOMA real estate start to appreciate.
Greg Bryan JD/MBA
GB and Associates/McGuire/Urban Bay Properties
Cell (415) 640-4341