San Francisco Market Update

November 2025

Clients, friends, and colleagues:

My sincere apologies for not getting out my November update on time! As a result, this update will encompass October sales data plus a sneak-peak at the new November metrics that just dropped today.

It's been a busy month. Personally with some holiday travels, and professionally with busy buyer activity and some very exciting listings coming soon!

Let's jump right into some market talk. As we know, the main driver for our real estate growth this year in San Francisco can be attributed to the AI startup boom. Workers are prioritizing downtown proximity, rents continue to increase, and our neighborhoods are vibrant and bustling. October 2025's sales hit the highest count since May 2022, and luxury home sales were the best in the last 4 years.

Virtually all the market indicators point to a dramatic increase in buyer demand competing for a declining number of listings. The number of price reductions plummeted 46% on a year-over-year basis, while the pending ratio - a standard measure of market heat - hit its highest monthly reading since the peak of the pandemic boom. 80% of house sales and 44% of condo sales sold for over list price.

Despite the recent stock market volatility within the AI sector (heated competition between Google and Nvidia, fears of an AI bubble among analysts, etc), new November data shows a dramatic 9% year-over-year increase (to $1,800,000) in median sales price for single-family homes in San Francisco. Condominium prices remained about flat, at a median sales price of $1,150,000.

The market typically slows from mid-November to mid-January, though it feels like this year may buck that trend. In any case, listing and sales activity continue in every month of the year - however, mid-winter is usually the period when buyers can negotiate most aggressively on unsold homes listed earlier in the year.

If you have any questions about a specific property or our market, I'm always here and happy to help.

Sincerely,

Ron

Recent review & sales @ the bottom of this email.

Recent Review

"I’ve had the pleasure of working with Ron twice! First when purchasing my condo, and again recently when searching for my new home. After such a positive first experience, I knew I wanted to work with him again. This second journey took almost a year, and throughout the process Ron was patient, thoughtful, and truly attentive. I can be quite particular about details (from the house itself to the surrounding environment) but Ron always listened carefully, provided valuable feedback, and presented great options that aligned with what I was looking for. During the closing process, he was exceptionally proactive and transparent, clearly outlining every step and setting the right expectations. His communication is clear, his attention to detail is impeccable, and his professionalism shines through in every interaction. I’ve already recommended Ron to friends, and I can confidently say that his experience and dedication are what helped me find my dream home."

- Buyer SK / Noe Valley

Recent Sales / In Contract

Hayes Valley

555 Fulton Street, Unit 427

1 BD 1 BA 728 SF $749,000

IN CONTRACT

Telegraph Hill

455 Vallejo Street, Unit 207

1 BD 1 BA 825 SF $960,000

SOLD

Noe Valley

524 28th Street

3 BD 1 BA 1554 SF $1,595,000

SOLD

Central Richmond

647 24th Avenue

5 BD 2 BA 2125 SF $1,860,000

SOLD

Active Listings

South of Market

720 Clementina Street

3 BD 4 BA 4965 SF $3,998,000

Hayes Valley

55 Page Street, Unit 514

0 BD 1 BA 476 SF $539,000

Eureka Valley-Dolores Heights

150 Eureka Street, Unit A

1 BD 1 BA 0 SF $715,000

ronsellsthecity.com

Ron Salter

DRE #: 01989381

REALTOR®

M: 415.717.8752

[email protected]

Montgomery + LEE

National and regional statistics are generalities, essentially summaries generated by thousands of unique, individual listings and sales occurring across different market segments. 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, and last period data should be considered preliminary estimates which may be revised in future updates. Different analytics programs sometimes define standard statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: What is most meaningful are not specific numeric calculations but the trends they illustrate. Data from sources deemed reliable, but may contain errors, and subject to revision. All numbers to be considered approximate, and how these analyses apply to any particular property 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, 01527235, 01527365. 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.

Leave a Message

Thank you for your message. We will be in touch with you shortly.

San Francisco Market Update | November 2025

Leave a Message

Thank you for your message. We will be in touch with you shortly.

San Francisco Market Update | November 2025

Work With Ron