October 2025 - San Francisco Market Insights

The Local Lowdown

Quick Take:

• Median sale prices remained mostly flat year over year.

• Inventory continues to trend lower in both single-family and condo markets.

• Condos are spending more time on the market than last year.

Note: Charts and graphs for the Local Lowdown are available at the end of this section.

Median sale prices hold steady in San Francisco

San Francisco’s market is known for its ups and downs, but August brought a rare moment of stability. The median sale price for single-family homes dipped slightly by 1.38%, while condos rose modestly by 0.74% year over year. These small changes mark a calmer period for the city’s typically volatile market.

Even with prices holding steady, homes are still commanding strong offers. Single-family homes are selling for an average of 111.9% of their list price, while condos are achieving about 97.3%, signaling steady demand despite tightening inventory.

Inventory keeps shrinking across the city

Inventory challenges remain one of San Francisco’s defining market features. While other Bay Area counties have seen listings build up, San Francisco continues to move in the opposite direction.

In August, active listings for single-family homes fell 17.51% year over year, and condo listings declined 22.69%. With fewer new properties coming to market, competition remains strong, and buyers continue to face limited choices.

Condos take longer to sell despite low supply

It might seem counterintuitive, but even with low inventory, condos are sitting on the market longer. Single-family homes are being snapped up quickly—averaging just 15 days before going under contract. Condos, however, are taking an average of 50 days to sell, a 6.38% increase year over year. This divide reflects shifting buyer preferences toward detached homes.

Both single-family and condo markets favor sellers

We measure market balance using Months of Supply Inventory (MSI). In California, three months of supply represents a balanced market. Below that threshold, sellers hold the advantage; above it, buyers gain leverage.

Both San Francisco’s single-family and condo markets remain in seller territory, with inventory levels well below the balanced range—making the competition for well-priced homes as strong as ever.

Bottom Line:

San Francisco’s housing market continues to show remarkable resilience despite ongoing inventory shortages. Home prices have stabilized, signaling a temporary pause in the city’s typical price volatility. Demand remains strong for single-family homes, with listings moving quickly and selling well above the asking price. Condos, on the other hand, are seeing slower movement, suggesting buyers are being more selective in that segment. With limited inventory and high buyer interest, San Francisco remains a clear seller’s market—though strategic pricing and property presentation are still key to standing out.