The Local Lowdown

Quick Take:

• San Francisco closed the year with strong price growth, as single-family homes climbed 8.63% year-over-year and continued to command premium pricing.
• Inventory remains extremely tight, with fewer than 100 single-family homes available citywide — creating one of the most competitive environments we’ve seen in years.
• Homes are moving quickly, with the average single-family property selling in just 15 days, giving buyers very little time to pause or negotiate.

Note: You can find the charts and graphs for the Local Lowdown at the end of this section.

San Francisco ends 2025 with notable price strength
The San Francisco market closed out 2025 on a confident note, with steady appreciation across both single-family homes and condos. Single-family homes led the way, with median prices rising 8.63% year-over-year to $1,662,000, while condos followed with a 5.21% increase to a median of $1,075,000. Demand for single-family homes remains especially strong, with many properties selling well above asking and averaging nearly 13% over list price. Condos, meanwhile, are trading closer to list price, reflecting stable but more measured buyer activity in that segment.

Inventory remains one of the biggest drivers of today’s market
December brought a significant drop in available homes across San Francisco, further tightening an already constrained market. Fewer than 100 single-family homes — just 93 in total — are currently available for sale, marking a sharp 43.64% decline from last year. Condo inventory also contracted, down 44.10% year-over-year to 218 units. With only 311 homes on the market citywide, buyers are facing limited choices and heightened competition. Until more homeowners choose to list their properties, inventory will continue to shape both pricing and pace across the city.

Homes are selling quickly, leaving little room for hesitation
With so few homes available, well-priced listings are moving swiftly. The average single-family home is now selling in just 15 days, a notable improvement from last year and a sign of continued buyer urgency. Condos are also seeing faster timelines, averaging 50 days on market. For buyers, this means preparation and strategy matter more than ever. For sellers, it underscores the importance of thoughtful pricing and effective positioning from the outset.

San Francisco remains a deeply competitive seller’s market
One of the clearest ways to understand market balance is through Months of Supply Inventory (MSI). Historically, around three months of inventory signals a balanced market. Anything below that leans toward sellers, while higher levels favor buyers.

San Francisco is currently well below that threshold. With just 0.5 months of single-family inventory and 1.2 months of condo inventory available, the city remains firmly in seller’s market territory. These are some of the lowest supply levels we’ve seen in years, and until inventory increases meaningfully, sellers will continue to hold a strong advantage, while buyers need to move with clarity, preparation, and a well-defined strategy.

Local Lowdown Data