San Francisco Real Estate Market Reports

Below you’ll find links to our monthly San Francisco real estate market report. The report provides tons of useful data points to help understand the San Francisco real estate market. We’ll update these monthly in concert with the San Francisco Neighborhood Market Report where you’ll find detailed real estate data at the neighborhood level. Neighborhoods covered include Diamond Heights, NoPa, Outer Sunset, Outer Richmond, Forest Hill, and Westwood Highlands. And if you don’t see the neighborhood you’re interested in, let me know and I can create one for you.

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2024 San Francisco Market Data

April Market Data

April Monthly Report

Since the start of the year, and now into the spring selling season, the shifts in supply and demand have intensified, leading to a significant increase in the competitiveness of the market. Current indicators and on-the-ground experiences with new listings, negotiations, and contracts suggest that home prices are almost certain to continue rising in Q2 2024.

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March Market Data

March Monthly Report

There is a growing sense that in 2023, San Francisco hit its post-pandemic low – economically, socially, and certainly in media coverage – and that it has
begun a significant recovery on all those fronts. Most importantly, confidence is rebounding in San Francisco’s future as a financial and cultural
center, as the heart, along with Silicon Valley, of the next big technology boom (AI), and simply as one of the world’s great cities.

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January Market Data

January Monthly Report

In the final two months of 2023, the average weekly 30-year mortgage interest rate fell from 7.79% to 6.61%. With inflation decreasing over the past year, the Fed is widely expected to start lowering its benchmark rate, likely in multiple steps, in 2024. Analysts generally agree that mortgage interest rates will continue to decline.

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2023 San Francisco Market Data

December Market Data

December Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

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November Market Data

November Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

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October Market Data

October Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

September Market Data

September Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

August Market Data

August Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

July Market Data

July Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

June Market Data

June Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

May Market Data

May Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

April Market Data

April Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

March Market Data

March Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

February Market Data

February Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

January Market Data

January Monthly Report

In 2022, the market saw a dramatic shift from Q2 (spring), at which time the market peaked after a dramatic 10-year upcycle supercharged at its end by the pandemic boom, through the 2nd half of the year, when the market cooled significantly.

Read the report

2022 San Francisco Market Data

December Market Data

December Monthly Report
The changes in market dynamics that began in late spring/early summer 2022 generally continued in autumn due to the ongoing economic headwinds, including high inflation and interest rates, reduced consumer confidence, and volatile stock markets, though all have fluctuated significantly over the period, and some readings have recently improved.

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November Market Data

November Monthly Report
After a brief rebound in market activity in August, pursuant to what turned out to be a very temporary decline in interest rates and an associated rebound in financial markets, macroeconomic conditions shifted again – with interest rates climbing rapidly to a 20-year high – which took a toll on early autumn, Bay Area real estate markets.

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October Market Data

October Monthly Report
Virtually across the Bay Area, Q3 median sales prices retreated dramatically from their spring peaks, and SF was hit harder than most area markets. In this report, home prices will be reviewed from a variety of angles to provide greater context.

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September Market Data

September Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

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August Market Data

August Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

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July Market Data

July Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

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June Market Data

June Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

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May Market Data

May Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

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April Market Data

April Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

March Market Data

March Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

February Market Data

February Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

January Market Data

January Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

2021 San Francisco Market Data

December Market Data

December Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

November Market Data

November Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

October Market Data

October Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

September Market Data

September Monthly Report
Median home sale prices continue their upward trend eclipsing their pre-pandemic highs. Condos have also been on an upward trend but have yet to have recovered from the Pandemic. The number of price reductions has drop by more than half since the highs of the Pandemic.

Read the report

August Market Data

August Monthly Report
The first half of the 2021 San Francisco housing market came roaring back from the pandemic with $6.7 billion dollars in home sales – 49% above the previous peak in 2018. The number of listings has returned to its normal seasonality trends. Overbidding is back in vogue with homebuyers typically paying 117% of list price (a 3-year high), and condo buyers spending 104% above list (in-line with pre-pandemic pricing).

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July Market Data

July Monthly Report
San Francisco condo sales by month have hit an all time high. Condos in neighborhoods like Noe, Glen Park, Pacific Heights, and the Marina are all commanding about $1,250 per square foot.

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June Market Data

June Monthly Report
San Francisco condo and home sales are setting or approaching new highs. Condo, co-op and TIC sales are the highest they’ve been in 16 years, and 4Q20 home sales are the highest quarterly numbers since 2016.

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May Market Data

May Monthly Report
The SF housing market is showing signs of returning to its pre-pandemic state.

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April Market Data

April Monthly Report
San Francisco market report highlights for April 2021. Active listings are slowing from their Covid-induced high. Buyer demand is increasing and the percentage of properties going over ask is creeping back up.

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March Market Data

March Monthly Report
Typically demand precedes supply at the beginning of the year, accelerating into spring. This demand imbalance is even stronger this year as buyers have poured back into the market.

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February Market Data

February Monthly Report
After a rough 1st half of 2020, buyers came rushing back into San Francisco real estate in the second half of 2020. In January 2021 sales soared 67% above January 2020. The market seems to be heating up much more quickly than typical at the beginning of the new year.

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January Market Data

January Monthly Report
2020 ended the year extending the trends we’ve been seeing for the last few months: a strong single family market, and weakness in condos, TICs, and coops. There is opportunity if you’re looking to sell your single family home, or looking to buy a condo, TIC, or co-op.

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2020 San Francisco Market Data

December Market Data

December Monthly Report
We’re starting to see the traditional Q4 slowdown take hold. But, as with all things 2020, “normal” isn’t quite “normal”. November inventory is down relative to October, but still much higher than normal for the San Francisco market.
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November Market Data

November Monthly Report
House and condo sales have rebounded strongly with home higher than in recent years. The major story is the increase in condo, co-op and TIC inventory which is roughly 85% higher than last year. House listings are also up but by a much more modest 20% – 25%.
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October Market Data

October Monthly Report
Seven months into the Pandemic and the divergent recovery of the house and condo market is becoming even more entrenched. Whereas the house market is still a seller’s market, the condo market is a buyer’s market.
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September Market Data

September Monthly Report
August brought a ton of activity in the SF housing market. Listings going into contract in August matched the high point of 2018 and 2019. The recovery is uneven though with single family homes still in seller’s market territory while the condo market pushed deeper into a buyer’s market.
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August Market Data

August Monthly Report
As the recovery continues, we’re starting to see different recoveries by property types. Single family homes are still doing relatively well but the condo market is shifting into a buyer’s market. In terms of available inventory and overbidding, this is the best market for buying a condo we’ve seen in at least a few years.
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July Market Data

July Monthly Report
After taking a beating in March through April, the San Francisco real estate market appears to have recovered substantially. The SF median home price hit a new monthly high in June at $1,800,000. The market for high-end homes in particular is showing resilience likely due to this demographic being less affected by layoffs, and their greater financial resources.
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The Dangers of Overpricing in the San Francisco Real Estate Market
When selling your property, it may be tempting to set a sky-high asking price. This strategy can backfire spectacularly. Overpricing can lead to fewer offers and more days on market. Additionally, it can actually drive buyers to competitively priced comps. To get a data-driven sense of the downsides of overpricing, check out this report.
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June Market Data

June Monthly Report
While the SF housing market is down significantly year-over-year, it is showing signs of a rebound. Based on buyer demand, some analysts believe the next few months will be busier than 2019 with the typical spring sales activity being pushed into the summer months. Relaxing of the shelter-in-place order coupled with historically low interest rates is reason for this bullish outlook.
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May Market Data

May Monthly Report
The shelter-in-place order caused steep declines in housing activity in what is normally the busiest selling season of the year. However, while still far below normal levels, activity has been picking up since bottoming out in late March/early April, and should continue to do so. So far, home prices have seen no declines.
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San Francisco Real Estate 2020 vs 2019 Spring Market Comparisons
Since mid-March, shelter-in-place caused steep drops in activity across the board in what is typically the busiest selling season of the year. However, activity has been picking up since bottoming out in late March/early April, and will presumably continue to increase with the easing of both shelter-in-place and property-showing rules.
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April Market Data

San Francisco Bay Area Real Estate Selected Supply & Demand Statistics
Due to the three to six week lag time in the housing market, we are not yet seeing the fully impact of the shelter-in-place order.
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San Francisco Quarterly Real Estate Market Dynamics
Market indicators are often seasonal in nature, with Q2 typically being the period of highest demand, and the mid-winter holiday period being the period of lowest activity.
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April monthly report
There is usually a three to six week lag between when a new listing goes on the market to closing the sale. This lag means that most of the sales pricing data in this month’s report does not yet reflect the effect of the shelter-in-place order. This report will focus primarily on the effect of the Covid-19 crisis on supply and demand.
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San Francisco Selected Supply & Demand Statistics
Due to the lag time – typically 3 to 5 weeks – between offers being accepted and sales closing escrow, it is too soon for sales prices to clearly reflect any impact of the virus (if there is going to be an impact).
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March Market Data

Bay Area market reports
The most up-to-date and comprehensive analysis of San Francisco home prices, values, conditions and trends of the San Francisco Bay Area residential real estate market.
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SF Bay Area Home Price Map – March 2020 Update
This interactive map generally reflects approximate median house sales prices around the greater San Francisco Bay Area for the 12-month period through mid-March 2020 (i.e. before the coronavirus could affect sales prices). Median sales prices are generalities that often fluctuate and can be affected by other factors besides changes in fair market value. They typically disguise a huge range of prices in the underlying individual sales, and how these median sales prices relate to any particular home is impossible to say without a specific comparative market analysis. Data per sales reported to MLS, deemed reliable, but may contain errors and subject to revision.
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San Francisco Neighborhood Home Price Map – March 2020 Update
This interactive map generally reflects median home sales prices in San Francisco neighborhoods for the 12-month period through mid-March 2020 (i.e. before the coronavirus could impact sales prices). Median sales prices are generalities that often fluctuate and can be affected by other factors besides changes in fair market value. They typically disguise a huge range of prices in the underlying individual sales, and all prices should be considered approximate. Data per 12 months sales reported to MLS, deemed reliable, but may contain errors and subject to revision.
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March Monthly Report
There is a lot going on in the world right now and we won’t pretend to know how things will turn out or affect the local real estate market over the next few months. In the meantime, this report will look at the most recent data available, though the impact of the wild volatility in the financial markets and the unfolding situation with the coronavirus has yet to show up in reliable statistics. Typically, the spring selling season is the most active of the year.
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Mortgage Interest Rate Trends
Snapshot of mortgage interest rates from November 2018 – March 2020
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February Market Data

CoreLogic S&P Case-Shiller Home Price Index Update
The CoreLogic S&P Case-Shiller Home Price Index does not evaluate median sales price changes, but employs its own proprietary
algorithm to measure home price appreciation over time. Since its indices cover large areas – for example, the San Francisco Metro Area
is comprised of 5 counties – which themselves contain communities of widely varying home values, the C-S chart numbers do not refer
to specific prices, but instead reflect prices as compared to those prevailing in January 2000, which are all designated as having a
consistent value of 100. A reading of 250 signifies that home prices have appreciated 150% above the price prevailing in January
2000.
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The San Francisco Luxury Condo, Co-op & TIC Market
Gain insight into the $2M+ luxury condo, co-op and TIC market in SF. Includes data on seasonality, housing stock by neighborhood, and pricing analysis.
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The San Francisco Luxury House Market
A look into the $3M+ luxury housing market in San Francisco including data by neighborhood, seasonality, and pricing analysis.
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30+ Years of Bay Area Real Estate Cycles
Financial-market cycles have been around for hundreds of years, from the 1600’s Dutch tulip mania through our recent speculative frenzy in crypto-currencies. Though cycles vary in their details, their causes, effects and trend lines are often similar, providing more context as to how the market works over time.
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January Market Data

Home Prices, and Economic Conditions & Trends Affecting Bay Area Real Estate
There is a staggering number of economic, political, social and even ecological issues and factors constantly at play – locally, nationally and internationally – which can impact the Bay Area economy and housing market. These include home prices and affordability, interest rates, stock markets, politics, ecological disasters, employment, population, migration trends, national immigration policies, wage growth, how often people move, new home construction, consumer confidence, venture capital investment, initial public offerings, household debt, tax law changes, high-tech booms, creative financial engineering, and many others. Different analysts and economists often draw widely varying conclusions from this data.
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San Francisco Market Seasonality Charts
There is a cadence to the real estate market. Take a look at how seasonality affects SF real estate supply and pricing.
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San Francisco Median Home Sales Prices By Bedroom Count, Property Type & Neighborhood
A snapshot of median home prices provides buyers with a general sense of neighborhood affordability
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January Monthly Report
Generally speaking, after years of high appreciation rates, annual 2019 Bay Area median home prices went down a little bit, went up a little bit or basically remained unchanged as compared to 2018. SF hit new quarterly price highs in spring of 2019 (amid all the IPO excitement), but ended up the year at about flat for houses and a little up for condos. (Since there has been so much new luxury condo construction in recent years, year-over-year median price comparisons may not be exactly apples to apples.)
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