MARKET REPORT
SAN FRANCISCO
SEPT 2025
San Francisco Housing Market Gaining Momentum
San Francisco’s housing market is gaining momentum as the fall selling season begins, fueled by lower mortgage rates, limited inventory, and strong buyer competition.
SINGLE-FAMILY HOMES
• Median price: $1,500,000 (down 1.5% YoY)
• Days on market: 14 (1 day faster)
• Price per sq. ft.: $934 (down 7.2%)
• 70% sold above asking; sellers averaged 113.4% of list (up 2+ points)
• Contracts down 3.9%, sales down 4.4%
• Inventory dropped 13.3% to 183 homes; 1.2 months’ supply = strong seller’s market
CONDOS
• Median price: $1,020,000 (down 1.9% YoY)
• Days on market: 48 (5 days longer)
• Price per sq. ft.: $956 (down 3.5%)
• Contract activity up 14.4%, closed sales down 3.1%
• Inventory down 3.4% to 535 units; 2.9 months’ supply = balanced but tightening
• ~30% sold above asking; sellers averaged 100.1% of list
OUTLOOK
Mortgage rates are at a 10-month low, boosting affordability and drawing buyers back, particularly in the condo segment. With steady economic growth and historically strong fall activity, conditions point to a competitive and energetic close to the year.
SINGLE FAMILY HOMES
SAN FRANCISCO
Year-Over-Year Comparison
MEDIAN HOME VALUES
SINGLE FAMILY
CONDOMINIUMS
SAN FRANCISCO
$ PER SQUARE FOOT
END OF MONTH INVENTORY WENT INTO CONTRACT PROPERTIES SOLD $1,020,000 (-) 48 (+) $956 (-) 535 (-) 207 (+) 186 (-)
Year-Over-Year Comparison
MEDIAN HOME VALUES
CONDOMINIUMS
