Highlights from our Monthly Reports

 San Francisco Market Analysis

The average selling price in June for all single family homes in San Francisco fell to $2,131k compared to $2,417k in May.  The number of sales, days-on-market, and premium were mostly unchanged.

The premium (selling price vs listing price) for a 2 bedroom, 1 bath single family home was down from $118k to $114k.  The number of sales was down to 21 in June from 31 the previous month. The avgerage selling price was down 3% to $1,224 from $1,265 the previous month

The number of sales of 3 bedroom, 2 bath single family homes was unchanged.  The average selling price was down to $1,622k compared to $1,803k the previous month.  The premium rose to 117% compared to 113% in May.

For condos, average selling prices were down across the board compared to May while days-on-market have increased. The number of units for sale is up except for 2 bedroom, 2 bathroom units.

Overall, condo inventory (units on the market) is down by 23% compared to May.  For single family homes inventory is down 18% compared to May.

 Condos vs TICs

In the first six months of the year TICs sold for $66k - $175k less than a comparable condo.  The exception is 1 bedroom, 1 bath units where TICs are selling for $41k more than the comparable condo.

 San Francisco Fundamentals

Compared to a year ago, the average selling price of a 2 bedroom, 1 bath single family home dropped $147,000 ($1,224,000 vs $1,371,000).  In June 2025 buyers paid 14% over asking compared to 24% over asking in June 2024.

Also compared to a year ago, the number of condo sales was up 33%.  Average selling prices were down slightly by $4,000 although 2 bedroom, 2 bath condos sold for $109,000 more in June 2025 than a year ago ($1,265,000 vs $1,156,000).  

Highlights of monthly reports for April

Single Family Homes in San Francisco

Compared to March:

• 2/1 single family home sales about the same number as March.  Avg selling price was down slightly.  DOM up slightly.  Premium down slightly to 119% of asking price.

• 3/2 single family homes -- big jump in number of sales -- 52 (double compared to March).  Avg selling price down 6%. DOM dropped to 16 compared to 21 the previous month.

• All sales of single family homes: 214 compared to 177 in March (up over 20%); avg selling price down 11%; DOM up to 23 compared to 20 in March.

All Residential Sales

Compared to a year ago:

• Total number of residential sales (single family homes, condos, TICs, co-ops) was down 5% compared to April last year.  But sales are up 5% for the first four months of the year compared to the same period last year.  

• Overall, residential sales are currently at pre-pandemic levels.  

• Average sales prices for 3/2 single family homes was $1,648k in April, 8% below the all time high in 2022 of $1,773k.  (The average selling price of all single family homes in April was $2,164k -- a reminder to be cautious when talking about average selling prices).

Condos/TICs in San Francisco

• 46 1/1 condos/TICs sold in April, the same as March with an average selling price of $747k -- 12% higher than March but still well off the high average selling price in 2019 which was $871k.

• 64 2/2 condos/TICs sold in April, up slightly from March, but with an average selling price of $1,244k which was lower by 3% compared to March.  The highest average selling  price for 2/2 condos was achieved in 2019 at $1,463k.

 

Highlights from September and 3rd Quarter Sales Reports

 

• TICs remain priced below comparable condos.

• Among the five categories of single family homes and condos we track, the number of active listings is above levels pre-pandemic

• Both single family homes and condos, on average, are selling for prices above their listing price except for 1 bedroom/1 bath condos which are selling for 99% of their listing price.

• For those expecting a big upsurge in sales following the Fed's mid-September interest reduction, keep in mind that most transactions take 30 days or more from initial contract to closing.  If there will be a noticable increase in sales it should be apparent in October's statistics.

Highlights from August sales reports

The number of new listings jumped significantly in the two weeks ending 9/16/24 -- compared to the previous two week period new listings of single family homes rose 78% from 125 to 222; condos went from 147 to 396 (169%).  The total number of new residential listings was 618, about the same as last year in the same two week period, 685.

Not surprisingly, the number of price reductions rose for single family homes from 17 to 35 and for condos from 42 to 86.

Traditionally, we always see a notable increase in listings every year right after Labor Day.  And keep in mind last year we had just experienced a two and a half week period in August when the MLS was not available.

The average sales price for a two-bedroom, one-bath single family homes so far this year is up about 3% compared to last year ($1,219,000 vs $1,180) but still below the all-time high of $1,339,000 in 2021.  Similarly for three-bedroom, two-bath single family homes, the average sales price so far this year is $1,626,000 which is almost 5% higher than last year but still off from their all-time high of $1,773,000 in 2022.

The average sales price for one-bedroom, one-bath condo so far this year is $721,000 which is about 2% higher than last year and is the first year-over-year gain following four years of average sales price declines.  However, the current average sales price is off 17% compared to the peak of $871,000 in 2019.

Similar story with two-bedroom, two-bath condos with an average sales price so far this year of $1,255,000 which is 3% below last  year's average and 14% off the average sales price in 2019 of $1,463,000.

Highlights from our monthly reports

 

New listings of single family homes in the two weeks ending 8/5/2024 are up compared to a year ago:  108 vs 98.  Similarly, new listings of condos in the same period are up 165 vs 143.

Price reductions for both single family homes and condos are essentially the same as a year ago:  25 vs 23, and 63 vs 71 respectively.

Average selling prices for single family homes in July are down compared to June sales:  $1,984k vs $2,120k (down about 7%).  Compared to a year ago: $1,984k vs $1,834k (up about 8%).  For condos, average selling prices in July are up just slightly compared to June:  $1,289k vs $1,278k  Compared to a year ago condo sales prices are up:  $1,289k vs $1,220k (about 6%).

As always, there are variations depending on configuration (bedrooms, bathrooms).  Especially for small condos, average selling prices for 1 bedroom, 1 bath condos have been trending down since 2020.  2 bedroom, 1 bath condos selling prices have been up and down over the past four months in a range between $1,043k and $1,224k.

As of 8/12/2024 the number of active listings for the five configurations of single family homes and condos is down compared to two years ago but up compared to 2021 and every year between 2019 and 2013.

The total number of residential sales for the first seven months of the year is still behind where we were over the past 18 years with the except of last year (2521 vs 2294), 2020 (2521 vs 2309) and 2009 (2521 vs 2162).