June 2025 | San Francisco Market Update

MARKET REPORT

SAN FRANCISCO

JUNE 2025

San Francisco Housing Market Heats Up as Summer Approaches

San Francisco’s housing market remained highly active in May, with strong momentum continuing across both single-family homes and condominiums. In the single-family segment, the median sales price rose 6.5% year-over-year to $1.8 million. Homes are still selling quickly, with a median of just 13 days on the market—unchanged from the previous May. The median price per square foot increased 3.2% to $1,057, and the number of homes going under contract jumped 10.5% to 264, reflecting solid buyer demand. While closed sales dipped slightly by 2.2%, inventory remains tight, with just 268 homes for sale at the end of the month—a 1.1% decrease from last year. With Months Supply of Inventory holding steady at a low 1.2, competition for available properties remains intense.

The condominium market also showed impressive strength. The median sales price climbed 10% year-over-year to $1,291,500, setting a new record for the month of May. Condos sold more quickly as well, with median days on market falling by a full week to 21 days. Price per square foot inched up 0.3%, and the number of pending sales mirrored the singlefamily segment with a 10.5% gain. However, the number of closed condo sales declined 9.6% to 226. Active listings at month-end were down 4.8% to 71, bringing Months Supply of Inventory to 2.5—another indicator of tightening conditions.

Altogether, limited inventory, rising prices, and strong buyer interest continue to define San Francisco’s housing market as we head into the summer months.