November 2026 San Francisco House & Condo Market Outlook

San Francisco’s single-family market was exceptionally tight in October. Active listings fell 20% from a year ago to 222, leaving 0.9 months of supply, and homes sold in 14 days on average, the fastest of any month since at least 2020. 86% of homes sold above list, up 9%, the highest October level since at least 2020. The median rose 29% to $2,390,000, the highest of any month since at least 2020. Condos were also strong, with overbidding at 68%, though condo price cuts rose from a low base.

• Sales: 253 single-family homes closed in October, down 7% YoY and up 30% from September. Condo closings fell 7% YoY to 292.
• Prices: The single-family median rose 29% YoY to $2,390,000. The condo median rose 12% YoY to $1,344,500, the highest October median since at least 2020.
• Competition: 86% of single-family sales closed above list, up 9% YoY. Condo overbidding was 68%, up 25%; both are the highest October levels since at least 2020.
• Inventory: Active single-family listings fell 20% YoY to 222, while new listings rose 5% to 287. Condo active listings fell 24% to 545. Both active counts are the lowest October levels since at least 2020.
• Single family: Days on market fell to 14 days from 22 a year ago, while months of supply was 0.9, the lowest October level since at least 2020. Price reductions rose to 23 from 19, with the reduction rate at 7%.
• Condos: Condo supply fell to 1.9 months from 2.3 and condo days on market fell 16% to 36.
• Price cuts rose from a low base: 18% of condo listings took one, up 13%, the highest October level since at least 2020.
• MOM: Single-family closings rose 30% from September and the median rose 16%, while months of supply fell to 0.9 from 1.2. Overbidding eased 5% to 86%. Condo price reductions rose 65%.
• Bottom line: A very tight, highly competitive market for both property types; rising condo price cuts are the one sign of buyer pushback.
• Data quality: A 16% one-month rise in the single-family median likely reflects the mix of homes sold, so the 29% YoY gain should be interpreted cautiously.

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