San Francisco Market Update

February 2025

Clients, friends, and colleagues:

The San Francisco real estate market has been a mixed bag, much like it has been for the last 18-20 months. It's the same story: single-families and boutique condos in top tier locations of the city are trading fairly well and quickly, while our larger condo buildings (most notably SoMa and downtown SF) are struggling with longer days on market and price cuts.

I mentioned a general optimism in my January update, and this feeling remains. The virbancy of downtown is inching back, our mayor is prioritizing downtown districts and business incentives, and our rental inventory has seen stronger demand. We haven't seen this activity spill into the sale market; condo sales are still slow but ripe with opportunity. According to our CEO of Compass, Robert Reffkin, San Francisco is the most underrated market in America and poised for the biggest rebound in the next 5 years.

Let's jump into the pertinent numbers (more detailed graphs below):

Inventory is down year-over-year: down 9.2% overall

(Down 16% for single-family; Down 5% for condos)

Median sale price in San Francisco is slightly up 2% year-over-year

(Even for single-families; Down 2.3% for condos)

Days on Market (DOM) pushed up to 60 days for condos; down to 18 days for single-families

The 30-yr fixed has dipped down to 6.85% (below it's high in mid January of 7%)

Stock markets have been volatile: Dow is +3% and Nasdaq is -1% year to date.

If you have any questions about a particular property, market, or additional insights, I am always here and happy to help.

Sincerely,

Ron

Active Listings / Coming Soon

Hayes Valley

555 Fulton Street, Unit 427

1 BD 1 BA 728 SF $749,000

Duboce Triangle

2200 Market Street, Unit 305

2 BD 2 BA 1170 SF $1,450,000

Cow Hollow

1935-1937 Greenwich Street

4 BD 6 BA 3160 SF $4,498,000

Central Richmond

680 15th Avenue

2 BD 2 BA 1690 SF $1,295,000

South Beach

280 Spear Street, Unit 23C

2 BD 2 BA 1204 SF $1,700,000

Private Exclusive! Fully upgraded unit (previous model home) with bridge, water, and city views from the southwest corner of Mira.

Sold / In Contract

Yerba Buena

765 Market Street, Unit 22E

2 BD 3 BA 1456 SF IN CONTRACT

Inner Richmond

3136 Fulton Street, Unit 3

4 BD 3 BA 1793 SF $1,588,000

SOLD

Ron Salter

DRE #: 01989381

REALTOR®

M: 415.717.8752

[email protected]

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multicounty metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate.

Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis.

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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San Francisco Market Update | February 2025

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San Francisco Market Update | February 2025

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