San Francisco Housing Market Trends

The Local Lowdown

Quick Take:

• Single-family home prices jumped more than 16% year-over-year, one of the strongest January performances we’ve seen in recent years.

• Inventory remains extremely tight, with total listings down nearly 40% compared to last year.

• The average single-family home is selling in just 13 days, more than twice as fast as last January.

Note: Charts and graphs for the Local Lowdown can be found at the end of this section.

San Francisco starts 2026 with strong price growth

San Francisco’s housing market kicked off 2026 with impressive momentum, particularly in the single-family home market. The median sale price for single-family homes increased 16.23% year-over-year, reaching $1,653,325, reflecting continued demand for detached homes across the city.

Condos also saw modest price growth, with the median sale price rising 2.77% to $1,020,000.

We’re also seeing a clear difference in how each property type is performing. Single-family homes are selling for nearly 15% above their original asking price on average, highlighting the strong competition among buyers. Meanwhile, condos are closing slightly below list price, averaging 97.7% of the asking price, which can present opportunities for buyers looking in that segment.

Inventory remains very limited

The limited housing supply that defined the end of 2025 has carried straight into the new year.

Currently, there are just 148 single-family homes available for sale in San Francisco, representing a 37.82% decrease compared to January of last year.

The condo market is experiencing similar conditions. Condo inventory has declined 36.94% year-over-year, with 338 units currently on the market.

In total, there are fewer than 500 homes available for sale across the entire city. While new listings have begun to increase from December’s seasonal slowdown, the overall supply of homes remains very limited, which continues to create a competitive environment for buyers.

Homes are selling quickly

With such limited inventory, it’s no surprise that homes—especially single-family properties—are moving quickly.

The average single-family home is selling in just 13 days, a significant improvement from last January when homes spent around 30 days on the market. That represents a 56.67% faster sales pace year-over-year.

Condos are also selling faster than they did a year ago, with the average days on market dropping to 65 days, an 18.75% decrease year-over-year.

For buyers, this means preparation is key. Well-priced homes are attracting strong interest, and buyers often need to be ready to move quickly when the right property becomes available.

San Francisco remains a strong seller’s market

One of the most widely used indicators of market balance is Months of Supply Inventory (MSI). Historically, the California housing market averages around three months of inventory, which is considered a balanced market.

• Less than three months of inventory typically indicates a seller’s market

• More than three months suggests a buyer’s market

Right now, San Francisco is well below that balanced threshold.

The market currently has just 0.8 months of single-family home inventory and 1.8 months of condo inventory, which firmly places the city in seller’s market territory. With limited supply and steady demand, sellers continue to hold strong negotiating power.

Bottom Line

San Francisco’s housing market entered 2026 with strong momentum. Prices for single-family homes are rising quickly, inventory remains historically low, and well-priced homes are selling at a rapid pace.

For buyers, this means staying prepared and ready to act when the right opportunity appears. For sellers, current conditions continue to provide a favorable environment with strong demand and limited competition.

As we move further into the spring market, one key question remains: Will new listings help ease the supply shortage, or will demand continue to outpace inventory across San Francisco? Either way, the market continues to demonstrate resilience and strong underlying demand.