San Francisco's Real Estate Insider August 2025

Clay Gjevre
Aug 22
3 min read

by Clay Gjevre

San Francisco’s housing market remains steady despite persistent inventory challenges. Single-family homes are selling fast, while condos linger longer on the market, though that gap is starting to close. With supply staying tight and demand holding firm, pricing trends remain within historical norms. Fewer new listings are hitting the market each month, keeping competition high and well-priced homes in demand.

Let’s dive into the latest…

Market Snapshot

August 2025 Market Insights

1. Home values in San Francisco are “business as usual”

Although inventories have been steadily declining over time, median sales prices have stayed pretty consistent with a “band” in both the single-family home market and the condo market. While we did see the median sale price for condos in San Francisco decrease by 11.92% on a year-over-year basis, this can largely be attributed to the volatility in this metric. When we turn to the single-family home market, we saw a slight tick up of 2.34% in terms of median sale prices.

Tip: In a steady market like this, focus less on short-term price changes and more on long-term trends—timing your move based on lifestyle needs and inventory availability can be more impactful than chasing minor price shifts.

2. The inventory issue doesn’t look like it will be solved anytime soon

While much of the Bay Area is experiencing inventory issues, the vast majority of areas are seeing inventories begin to pile up. As we know, San Francisco has the opposite problem; the area can’t seem to keep enough inventory on the market. This trend has continued in July, with 15.93% less single-family inventory on a year-over-year basis and 19.91% less condo inventory. This is largely due to the fact that fewer new listings are hitting the market each month. On a year-over-year basis, the single-family home market saw 18.46% fewer new listings in July, and the condo market saw 5.09% fewer new listings.

Insight: With fewer new listings hitting the market, buyers face increased competition, making preparation and swift decision-making key to securing the right home in SF.

3. Condos linger while single-family homes fly off the market

With the inventory issues that San Francisco is experiencing, you’d probably expect both condos and single-family homes to move very quickly. While single-family homes are moving incredibly quickly, with the average listing sitting on the market for just 14 days, the average condo is sitting on the market for much longer. In July, the average condo took 44 days to sell, representing a 12.82% increase on a year-over-year basis. This is certainly an interesting phenomenon. However, it’s nothing new in this market, as condos have always taken a bit longer to sell than single-family homes.

Tip: If you’re selling a condo, plan for a longer marketing period and consider strategic pricing and staging to help it stand out in a slower-moving segment.

4. The condo market becomes a more balanced market

The Months of Supply Inventory (MSI) shows how balanced a market is—around three months is considered neutral. San Francisco’s condo market is buyer-leaning at 3.1 months, while the single-family home market remains firmly in seller’s territory at just 1.2 months.

Insight: Buyers may soon see more negotiating power in the condo market, while single-family homes will likely remain competitive.