San Francisco home prices are climbing across the board. Single-family homes continue to surge, with the median price above $2.1 million, homes selling in under two weeks, and sellers routinely receiving well above asking. And the condo market, which spent much of last year moving at a slower pace, has caught fire too: condo prices are up double digits year-over-year, and the typical condo now sells in about two weeks instead of two months.
For buyers, that means the “wait for the condo market to stay soft” strategy has largely run its course. Understanding where prices are, how they got here, and what the data says about each market segment is the starting point for any smart purchase strategy in San Francisco.
San Francisco Home Prices at a Glance
- Overall median sale price: Approximately $1.7 million for the three months ending May 2026, up 16.1% year-over-year (Redfin).
- Single-family home median: $2,105,000 in April 2026, up 18.3% year-over-year. Selling in a median of 11 days, at roughly 125% of list price on average.
- Condo median: Approximately $1,370,000 for March through May 2026, up 14% year-over-year. Condos are now selling in roughly 13 to 14 days, and more than half sell above asking.
- Inventory: Roughly 150 single-family homes and 460 condos on the market citywide in late spring 2026, with single-family and condo inventory each down nearly 30% from the prior year.
- Months of supply: Approximately 0.8 months for single-family homes and about 2 months for condos. A balanced market is closer to 3 months.
- Price per square foot: Approximately $1,140 citywide (Redfin, spring 2026), with condos averaging around $1,170 per square foot.
San Francisco’s Two Markets Are Converging
Earlier this year, the most important thing a buyer could understand about San Francisco’s housing market was the split between a red-hot single-family market and a calmer condo market. That gap is closing fast.
Single-Family Homes
The single-family market remains one of the tightest in the state. With roughly 150 homes available citywide at any given time this spring, buyers are competing intensely for a very small pool of properties. The result:
- Prices are up sharply. The median single-family home sold for $2,105,000 in April 2026, an 18.3% increase from the prior year. In February, the year-over-year gain topped 20%.
- Homes sell fast. The median single-family home now sells in 11 to 12 days.
- Overbidding is the norm. Single-family sellers received an average of roughly 117% to 125% of list price this spring, and more than 85% of single-family sales closed over asking.
- Most purchases require jumbo loans. At a median of $2.1 million, nearly every single-family purchase exceeds the $1,249,125 conforming loan limit for San Francisco County.
Condos
The condo market is the biggest change since our last update. What was a slower, more negotiable segment has become a competitive market in its own right:
- Prices are up double digits. The median condo sold for approximately $1,370,000 over the March-to-May period, up about 14% from the same period last year.
- Time on market has collapsed. Condos that averaged 50 to 65 days on market a year ago are now selling in roughly 13 to 14 days.
- More than half sell over asking. In February 2026, 52.8% of condos sold above list price, up from 39.2% a year earlier. Premiums are strongest in neighborhoods near major AI employers, such as Mission Bay.
- Some negotiating room remains downtown. Units in larger buildings in the Financial District, SoMa, South Beach, and Yerba Buena are still more likely to sell at or below asking, so buyers focused on those areas may find more flexibility.
- Some condos still fall within conforming loan limits. Condos priced below $1,249,125 can be financed with a high-balance conforming loan, which may offer lower down payment requirements and easier qualification than jumbo financing.
Condos remain a meaningfully lower-priced entry point into San Francisco than single-family homes. But buyers should now approach the condo market with the same preparation and speed the single-family market has demanded for years.
Home Prices by Tier
Here’s how prices break down by tier, based on Redfin price percentiles for San Francisco (January 2026, the most recent tier breakdown available). With citywide prices up sharply since then, treat these medians as conservative floors:
| Price Tier | Median Price | Property Types | Typical Neighborhoods |
|---|---|---|---|
| Bottom (bottom 5%) | ~$444,000 | Studios, small 1BR condos | SoMa, Tenderloin, Bayview |
| Starter (5th-35th) | ~$947,000 | 1-2BR condos, some TICs | Excelsior, Outer Sunset, Visitacion Valley |
| Mid (35th-65th) | ~$1,502,000 | Larger condos, starter SFH | Inner Sunset, Bernal Heights, Glen Park |
| High (65th-95th) | ~$2,543,000 | Single-family homes | Noe Valley, Cole Valley, NoPa |
| Luxury (top 5%) | ~$7,407,000 | Premium SFH, penthouses | Pacific Heights, Russian Hill, Sea Cliff |
The luxury tier deserves a special note: luxury home sales in San Francisco jumped 22.2% year-over-year in March 2026, the third-largest increase among the 50 most populous U.S. metros, and the typical high-end home went under contract in just 12 days, the fastest in the country.
What’s Driving San Francisco Home Prices
Three forces are shaping the current price environment:
Historically Low Inventory
Single-family inventory finished April down nearly 28% year-over-year, and condo inventory fell 29%. With roughly 150 single-family homes available citywide at any given time, supply is well below what the market needs to function normally. When there are more buyers than available homes, prices rise, and competition intensifies, regardless of what interest rates are doing.
The AI Boom
San Francisco is the epicenter of the artificial intelligence boom, and AI-sector wealth is translating directly into housing demand. High-earning AI employees, often with substantial equity compensation, are competing for homes across every segment, from Mission Bay condos to Pacific Heights estates. At the top of the market, more than half of buyers above $3 million pay cash, making them far less sensitive to mortgage rates.
The Rate Lock Effect
Many current SF homeowners locked in mortgage rates between 2.5% and 4% during the pandemic years. Selling means giving up that rate and taking on a new mortgage at 6% or higher. This discourages listing activity, which keeps inventory low and sustains upward price pressure. Until rates drop enough to narrow that gap, the supply side of the market is likely to remain constrained.
What This Means for Buyers
The data points to several practical takeaways for anyone planning to buy in San Francisco:
- Speed and preparation now matter in every segment. With single-family homes selling in 11 to 12 days and condos in about two weeks, buyers need to be pre-approved, decisive, and prepared to compete. A strong pre-approval from a reputable lender gives your offer an edge.
- The condo discount is real, but the condo negotiating window is narrowing. Condos still offer entry to San Francisco at roughly $700,000 below the single-family median. Buyers focused on larger downtown buildings may still find units selling at or near list price, but across most of the city, condos are drawing multiple offers.
- Neighborhood matters more than citywide medians. The median home price in Pacific Heights is several multiples of the median in Bayview or the Excelsior, and appreciation rates now vary widely by proximity to AI employment hubs. Citywide numbers are useful for context, but your actual market depends on where and what you’re buying.
- Loan structure can expand what you can afford. At SF price points, the difference between a jumbo and conforming loan, or between a fixed rate and an ARM, can shift your purchasing power by $100,000 to $300,000. Understanding your loan options is as important as understanding the market data.
- Inventory constraints aren’t going away quickly. The factors driving low supply (rate lock effect, limited land, strict zoning) are structural, not seasonal. Buyers waiting for a flood of new inventory may be waiting a long time.
Frequently Asked Questions
What is the median home price in San Francisco in 2026?
The overall median sale price is approximately $1.7 million as of spring 2026, up about 16% year-over-year. Single-family homes have a median of approximately $2.1 million, while condos have a median of approximately $1.37 million. Prices vary widely by neighborhood, from under $500,000 for studios in SoMa to over $7 million for luxury properties in Pacific Heights.
Are San Francisco home prices going up or down?
Prices are rising sharply across all property types in 2026. Single-family homes saw year-over-year increases of 18% to 22% in early 2026, and condos are up 11% to 14% depending on the month. San Francisco ranked first among the 40 largest U.S. markets for home price appreciation in May 2026. Extremely low inventory and strong AI-driven demand are the primary drivers, and most analysts do not expect a significant price correction this year.
How much does a condo cost in San Francisco?
The median condo sale price is approximately $1.37 million as of spring 2026, up about 14% from a year ago. Prices still range from around $400,000 to $600,000 for studios and small one-bedrooms in neighborhoods like SoMa and Tenderloin, to well over $2 million for larger units in Pacific Heights, Russian Hill, and other premium locations. Mission Bay has seen especially strong gains, with its median condo price rising from roughly $1.17 million to $1.35 million in a year.
What are the most affordable neighborhoods in San Francisco?
Neighborhoods with the lowest median prices include Bayview, Excelsior, Visitacion Valley, Crocker Amazon, and parts of the Outer Sunset and Outer Richmond. Condo buyers may also find more affordable options, and somewhat less competition, in larger buildings in SoMa, the Financial District, and the Tenderloin, where units are more likely to sell at or near list price.
How fast are homes selling in San Francisco?
Single-family homes are selling in a median of 11 to 12 days and regularly attract multiple offers. Condos, which took 50 to 65 days to sell a year ago, are now selling in roughly 13 to 14 days. Well-prepared listings in popular neighborhoods often go under contract in under a week, and many trade before they ever hit the open market.
Is now a good time to buy in San Francisco?
There’s no universal answer. Prices are high and rising, and inventory is extremely limited. Waiting for prices to drop significantly is a gamble that hasn’t paid off historically in SF, and the current AI-driven demand cycle shows little sign of slowing. For buyers whose finances are ready, the current market rewards preparation and speed. Getting pre-approved now positions you to act when the right property appears.
Turn Market Data Into a Buying Strategy
San Francisco’s price data can feel overwhelming, but the numbers are just the starting point. What matters is translating them into a financing strategy that works for your budget, your target neighborhoods, and your timeline. Whether you’re looking at a condo that may still fit within conforming limits or a single-family home in a competitive neighborhood, the right loan structure makes the math work.
A lender who understands SF’s market dynamics and has access to the full range of loan products can help you identify where your budget fits and how to structure the best deal.
Ready to see what you can afford in San Francisco? Contact JVM Lending today for a free pre-approval and personalized buying strategy.
