Even with those caveats the narrative is complex. Some condo prices are dropping, but I'm also seeing some 3BR condos listed (not necessarily selling) for $1.6-1.7M, which is about $300K over what they were a couple years ago. Also, with the conventional COVID narrative you'd expect that houses in the hills or away from civilization would do better - but many of those houses (some in very prestigious locations like Saratoga or Los Altos Hills) are going for < $2M and sitting on the market for 6-8 months, while prices are rocketing up in Mountain View and it's getting hard to find a SFH for < $2.7M, even if it's on a tiny 6-8K ft^2 lot.

It also looks like both inventory and prices are rising, which is contradictory to standard economic theory but would make sense if we're nearing a market top.