Quick Take:
- Median sale prices continued their upward trajectory in December, with single-family homes gaining 8.63% year-over-year.
- Inventory levels have plummeted to historic lows, with fewer than 100 single-family homes available for sale in San Francisco.
- The average single-family home is selling in just 15 days, giving buyers very little time to make decisions.
San Francisco ends 2025 on a high note with strong price appreciation
The San Francisco housing market closed out 2025 with impressive year-over-year gains in median sale prices. Single-family homes saw an 8.63% increase, with the median home selling for $1,662,000. Condos also performed well, with the median sale price increasing by 5.21% to $1,075,000. Single-family homes continue to command significant premiums, with the average home selling for nearly 13% over the original asking price. Meanwhile, condos are selling right around their asking prices at 98% of list price.
Inventory hits rock bottom as fewer than 100 single-family homes remain on the market
December brought an unprecedented decline in inventory levels across San Francisco. There are currently just 93 single-family homes for sale in the entire city, representing a staggering 43.64% year-over-year decline. The condo market experienced a similar contraction, with inventory dropping by 44.10% to just 218 units. Combined, there are only 311 homes for sale in San Francisco, making it extraordinarily difficult for buyers to find suitable properties. Until more homeowners decide to list their properties, this severe inventory shortage will continue to define the market.
Listings are flying off the market at a breakneck pace
With inventory at historic lows, listings are spending very little time on the market before being snapped up by eager buyers. The average single-family home is selling in just 15 days, representing a 16.67% decrease compared to last year. Condos are also moving more quickly, with the average condo selling in 50 days, a 13.79% year-over-year decline. This rapid pace leaves buyers with very little time to evaluate properties and make informed decisions, creating an intensely competitive environment for anyone looking to purchase a home in San Francisco.
San Francisco has become one of the tightest seller’s markets in the state
When determining whether a market is a buyersโ market or a sellersโ market, we look to the Months of Supply Inventory (MSI) metric. The state of California has historically averaged around three months of MSI, so any area with at or around three months of MSI is considered a balanced market. Any market that has lower than three months of MSI is considered a sellersโ market, whereas markets with more than three months of MSI are considered buyersโ markets.
With just 0.5 months of single-family home inventory and 1.2 months of condo inventory on the market, San Francisco has become a deeply entrenched seller’s market across all property types. These are some of the lowest MSI figures we’ve seen in years, and there is no indication that conditions will ease for buyers any time soon. Until significant new inventory enters the market, sellers will continue to hold all the cards in San Francisco.
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