San Francisco, CA
Housing Market
San Francisco's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into San Francisco's supply and demand trends. Our report equips you with the information you require to make well-informed decisions.
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Buy or SellSan Francisco Housing Market Overview
The San Francisco housing market is a mix of luxury high-rise condos, single-family homes, and historic properties, with options across a range of budgets and lifestyles. The San Francisco real estate market has witnessed an increase in home prices by 2.1% year-over-year to reach a $1.4M median value in February 2025. San Francisco houses sell extremely quickly within just 19 days on the market.
Over the years, the city has experienced strong property value appreciation, driven by the booming tech industry, high demand for housing, and limited inventory due to geographic constraints. With 353 homes sold in February alone, San Francisco’s real estate market continues to be a key driver of California’s economy. Known for its iconic landmarks, such as the Golden Gate Bridge, its cultural diversity, and its proximity to Silicon Valley, the city attracts both domestic and international buyers. To capitalize on this demand, sellers can price their homes competitively and offer concessions to speed up the sale.
Over the years, the city has experienced strong property value appreciation, driven by the booming tech industry, high demand for housing, and limited inventory due to geographic constraints. With 353 homes sold in February alone, San Francisco’s real estate market continues to be a key driver of California’s economy. Known for its iconic landmarks, such as the Golden Gate Bridge, its cultural diversity, and its proximity to Silicon Valley, the city attracts both domestic and international buyers. To capitalize on this demand, sellers can price their homes competitively and offer concessions to speed up the sale.
Median Sale Price
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San Francisco Housing Supply
The number of homes for sale in San Francisco has decreased to 1,007 listings, representing a 1.8% YoY drop. Only 594 fresh properties entered this high-demand marketplace in February. The San Francisco housing supply currently sits at 2.9 months citywide, down by 0.2 months compared to the same period last year.
San Francisco offers an appealing lifestyle with a mix of urban convenience and world-class amenities, but the cost of living is among the highest in the nation. Home prices are significantly higher than the national median. If you’re buying a home in San Francisco right now, expect high competition across all neighborhoods, particularly in areas like Pacific Heights, the Mission District, and Noe Valley, which offer proximity to top employers, parks, and excellent public transportation. However, you may have to pay HOA fees for common areas in apartments and condos. Despite the steep prices, many residents are willing to pay the premium to live in the city’s vibrant, innovative atmosphere.
San Francisco offers an appealing lifestyle with a mix of urban convenience and world-class amenities, but the cost of living is among the highest in the nation. Home prices are significantly higher than the national median. If you’re buying a home in San Francisco right now, expect high competition across all neighborhoods, particularly in areas like Pacific Heights, the Mission District, and Noe Valley, which offer proximity to top employers, parks, and excellent public transportation. However, you may have to pay HOA fees for common areas in apartments and condos. Despite the steep prices, many residents are willing to pay the premium to live in the city’s vibrant, innovative atmosphere.
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San Francisco Housing Demand
The San Francisco housing market shows intense buyer competition despite shifts. Homes still sell above the asking price in 56.7% of transactions. This represents a 9-point decrease from the same period last year. Price reductions occurred in 15.8% of houses in San Francisco CA. This marks an increase from 13.2% of homes last February. Properties typically sell for 106.4% of their original list price. This sale-to-list ratio increased by 2.5 points compared to February 2024.
As a home seller in San Francisco, if you price your house accurately from the start, you can avoid the need for price reductions. Offering concessions to buyers can help you sell quickly, especially in a competitive market. You can list your home on the California MLS to reach a wide pool of buyers. If the sale-to-list price ratio is around 100% and demand is high, expect to receive multiple offers. If you’re buying a house in San Francisco, focus on homes that have been on the market for extended periods or have previously undergone price reductions, as these properties may offer more room for negotiation.
As a home seller in San Francisco, if you price your house accurately from the start, you can avoid the need for price reductions. Offering concessions to buyers can help you sell quickly, especially in a competitive market. You can list your home on the California MLS to reach a wide pool of buyers. If the sale-to-list price ratio is around 100% and demand is high, expect to receive multiple offers. If you’re buying a house in San Francisco, focus on homes that have been on the market for extended periods or have previously undergone price reductions, as these properties may offer more room for negotiation.
Homes Sold Above List Price
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Strong
Buyer
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Balanced
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Strong
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
San Francisco Housing Market: When to Buy or Sell?
San Francisco’s housing market has historically cycled between buyer-friendly and seller-friendly conditions. Like the broader California real estate market , the San Francisco housing market can favor both buyers and sellers based on seasonal trends. When competition is low and inventory increases, buyers have more negotiation opportunities. Conversely, sellers can benefit from higher prices and quicker sales when demand outpaces supply.
Moreover, if the months of San Francisco’s housing supply rises above the balanced conditions of the US real estate market (5 to 6 months), it may give buyers more time to consider their options. Understanding these market forces can help you time your purchase or sale strategically.
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Frequently Asked Questions
How have average house prices in San Francisco changed over the past year?
In February 2025, median house prices in San Francisco increased by 2.2% compared to the previous year, reaching a median price of $1,398,750. This moderate growth occurred despite challenging market conditions and limited inventory. The city continues to maintain its position as one of the most expensive real estate markets in the country. You can check your property's current market value with our free home value estimator and compare it with the nearby sales.
What are the San Francisco real estate market predictions for 2025?
San Francisco’s house prices will continue the sustained growth run. The prices rose by 2.1% YoY in February 2025, and demand has held strong in San Francisco. Experts forecast continued growth in San Francisco housing demand in 2025, which will keep the prices high and the inventory tight.
What’s the average house price in San Francisco?
The average home cost in San Francisco varies depending on the type, size, and local market conditions. It typically ranges from $1,100,000 for condos to $1,587,500 for single-family homes. If you dream of buying a home, you can find cheap homes for sale in San Francisco, within your budget.
Is the housing market going down in San Francisco?
It’s implausible that the San Francisco housing market will crash. Prices are projected to experience sustained growth through 2025. San Francisco's housing demand will witness strong growth given the competitive nature of this market.
Is this a good time to buy a home or sell a home in San Francisco?
You must check for real estate trends in San Francisco regarding housing prices and inventory. Sellers can benefit from high demand and rising prices. However, if the mortgage rates are stable and there is plenty of housing inventory, that’s the best time to buy a house in San Francisco.
How is the housing market right now in San Francisco?
The housing market in San Francisco surpasses US real estate market through strong price gains and competition. Limited supply and high demand in San Francisco drive market prices above national averages.
What are the steps to buying a home in San Francisco?
The steps to buying a home in San Francisco must start with a clear budget and mortgage pre-approval. Buyers should then search for homes for sale in San Francisco, submit offers, secure loans, and complete the closing process.
How can I list my house for sale in San Francisco?
You can list your home for sale with a Flat Fee MLS California listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in San Francisco?
The average mortgage rate for buyers in the San Francisco housing market fluctuates between 6.17% to 6.92%. It depends on the market and the borrower's credit score. Always check current rates with lenders.
What is the average cost of living in San Francisco?
The cost of living in San Francisco is significantly higher than most other cities at 71% above the national average and 23% above the California state average. Housing costs are the biggest factor at 187% higher than the national average.
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