San Francisco Market Update

San Francisco's housing market set a new benchmark in July. The single-family median sales price of $2,027,500 is the highest July figure on record — a 24.2% increase year over year — and a clear signal that the momentum of 2026 has not faded with the season.

Eighty-six percent of single-family homes sold over asking price, with sellers receiving an average of 126.7% of list. Inventory remained historically tight at 142 active listings, down 23.2% from July 2025. Closed sales of 178 represent a modest year-over-year decline of 5.8%, but that reflects constrained supply more than softening demand.

The condominium market continued its recovery. The median sales price rose 13.6% year over year to $1,250,000, while the median price per square foot increased 14.1% to $1,111. Perhaps the most notable shift: days on market fell 51.2% to 20 days, and 53.8% of condos sold over list price — up 86.2% from July 2025. That is a sharp reversal from where the condo market stood just two years ago, and reflects real buyer demand returning to well-priced product in desirable locations.

Inventory in the condo segment remains elevated relative to single-family homes, with 405 active listings — still down 29.3% from last year. Closed condo sales rose 26.1% to 275, and pending sales increased 9.5%, both positive signs heading into fall.

July's results confirm what San Francisco sellers and serious buyers have been navigating all year: a market that continues to outperform expectations. For sellers, conditions remain highly favorable. For buyers, the window for opportunity is real, but so is the competition. The fall season appears poised to continue that pattern.