Is San Francisco, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, San Francisco has remained a Seller's Market.
Key Takeaway
San Francisco is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in San Francisco, CA
How much do homes in San Francisco, CA cost?
Median Sold Price
$1,399,925
$951/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in San Francisco has remained the same since last year.
Summary: The median home sold price in San Francisco was $1,399,925 in May 2024, down 0.1% from last year, and the median price per square foot was $951.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $765K | $722K | -5.6% |
| 2 Bedrooms | $1.2M | $1.2M | -3.9% |
| 3 Bedrooms | $1.6M | $1.6M | 0.0% |
| 4 Bedrooms | $1.9M | $2.0M | +0.9% |
| 5+ Bedrooms | $2.3M | $2.2M | -6.4% |
Summary: San Francisco housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Belvedere Tiburon | $3.1M | $3.3M | +8.4% |
| Alameda | $1.1M | $1.1M | +2.7% |
| San Francisco | $1.4M | $1.3M | -0.1% |
| Daly City | $1.1M | $1.1M | -1.5% |
| Southeast Marin | $2.0M | $2.0M | -2.0% |
Housing Supply in San Francisco, CA
How many homes are available in San Francisco, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,057 | 1,991 | -3.2% |
Summary: The San Francisco real estate market had 1,991 homes for sale in May 2024, a 3.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 362 | 369 | +1.9% |
| 2 Bedrooms | 688 | 646 | -6.1% |
| 3 Bedrooms | 500 | 469 | -6.2% |
| 4 Bedrooms | 253 | 259 | +2.4% |
| 5+ Bedrooms | 254 | 248 | -2.4% |
Summary: The San Francisco housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.9%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 2.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 465 | 467 | 0.4% |
Asking Price vs. Sold Price
141 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
284 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in San Francisco, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.
Summary: A total of 467 homes were sold or pending in San Francisco in May 2024, up by 0.4% month-over-month. Of the 465 sold homes, 30% were sold under asking, 9% were sold at asking, and 61% were sold over asking.
Days on Market for San Francisco, CA
How long does it take to sell a home in San Francisco, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 23 Days | -46.1% |
Summary: Homes in San Francisco had an average of 23 days on market in May 2024, down by 46.1% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in San Francisco are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 467 homes were sold in San Francisco; 7% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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