Statistical Tables | | The Shutdown, In Beige

Trends at a Glance
(Single-family Homes)
	Nov 25	Oct 25	Nov 24
Home Sales:	181	264	200
Median Price:	$1,490,000	$1,499,000	$1,563,500
Price:	$2,167,433	$2,236,538	$2,068,730
SP/LP:	98.6%	98.9%	106.4%
Days on Market:	25	24	29
(Lofts/Townhomes/TIC)
	Nov 25	Oct 25	Nov 24
Condo Sales:	206	301	208
Median Price:	$1,130,000	$1,149,000	$1,120,000
Average Price:	$1,317,052	$1,310,239	$1,284,629
SP/LP:	99.3%	95.9%	98.5%
Days on Market:	56	46	65

Home Prices Mixed, Sales Down in November

 The median sales price for single-family, re-sale homes was down 4.7% year-over-year.

The average sales price for single-family, re-sale homes was down 3.1% month-over-month. Year-over-year, it was up 4.8%.

Sales of single-family, re-sale homes fell 9.5% year-over-year. There were 181 homes sold in San Francisco last month. The average since 2000 is 214.

The median sales price for condos/lofts was up 0.9% year-over-year.

The average sales price was up 2.5% year-over-year.

Sales of condos/lofts fell 1% year-over-year. There were 206 condos/lofts sold last month. The average since 2000 is 230.

The sales price to list price ratio, or what buyers are paying over what sellers are asking, fell from 98.9% to 98.6% for homes. The ratio for condos/townhomes rose from 95.9% to 99.3%.

Average days on market, or the time from when a property is listed to when it goes into contract, was 25 for homes and 56 for condos/lofts. 

Momentum Statistics

Sales momentum…
for homes fell from +5.8 to +4.3. Sales momentum for condos/lofts was down 2.8 points to +14.4.

Pricing momentum…
for single-family homes fell 0.6 of a point to -2.4. Pricing momentum for condos/lofts fell 0.1 of a point to –4.4.

Our momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.

If you are planning on selling your property, call me for a free comparative market analysis. 

We calculate…

momentum by using a 12-month moving average to eliminate seasonality. By comparing this year's 12-month moving average to last year's, we get a percentage showing market momentum.  

In the chart below…

the blue area shows momentum for home sales while the red line shows momentum for pending sales of single-family, re-sale homes. The purple line shows momentum for the average price.

As you can see, pricing momentum has an inverse relationship to sales momentum.

The graph below shows the median and average prices plus unit sales for homes.

Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. For complete information on a particular neighborhood or property, call me.

P.S. The FHA requires all condo projects to be re-certified before they will make a loan. To find out if the condo project you're interested in is eligible, go here: https://entp.hud.gov/idapp/html/condlook.cfm.

The graph below shows the median and average prices plus unit sales for condos/lofts.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me.

If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.

Monthly Statistics

Complete monthly sales statistics for San Francisco are below. Monthly graphs are available for each area in the city.

November Sales Statistics
(Single-family Homes)
	Prices		Unit			Yearly Change			Monthly Change
	Median	Average	Sales	DOM	SP/LP	Median	Average	Sales	Median	Average	Sales
San Francisco	$1,490,000	$2,167,433	181	25	98.6%	-4.7%	4.8%	-9.5%	-0.6%	-3.1%	-31.4%
D1: Northwest	$2,130,000	$2,668,056	18	44	118.2%	-11.3%	8.3%	38.5%	-3.2%	-2.2%	20.0%
D2: Central West	$1,708,000	$1,780,666	35	15	122.4%	17.8%	14.0%	-18.6%	5.8%	-5.3%	9.4%
D3: Southwest	$1,325,000	$1,508,000	10	31	112.5%	-0.7%	12.8%	-23.1%	2.7%	0.6%	-37.5%
D4: Twin Peaks	$2,240,125	$2,349,279	26	26	111.1%	14.9%	2.0%	-21.2%	-1.5%	-2.0%	-16.1%
D5: Central	$2,597,500	$3,393,350	26	24	105.2%	-0.5%	8.6%	23.8%	15.4%	31.3%	-46.9%
D6: Central North	$3,950,000	$3,628,333	3	27	98.3%	54.9%	27.7%	-40.0%	187.8%	185.4%	-25.0%
D7: North	$5,400,000	$7,325,000	8	75	90.7%	-11.5%	19.1%	14.3%	-29.3%	-12.2%	-50.0%
D8: Northeast	$4,225,000	$4,544,629	3	17	108.7%	28.0%	-50.4%	0.0%	89.0%	116.7%	-25.0%
D9: Central East	$1,650,000	$1,783,737	19	13	119.6%	6.3%	9.7%	-5.0%	-3.6%	-9.5%	-40.6%
D10: Southeast	$1,035,000	$1,068,860	33	36	110.6%	5.1%	4.1%	-21.4%	3.6%	-1.1%	-8.3%

November Sales Statistics
(Condos/TICs/Co-ops/Lofts)
	Prices		Unit			Yearly Change			Monthly Change
	Median	Average	Sales	DOM	SP/LP	Median	Average	Sales	Median	Average	Sales
San Francisco	$1,130,000	$1,317,052	206	56	99.3%	0.9%	2.5%	-1.0%	-1.7%	0.5%	-31.6%
D1: Northwest	$1,426,000	$1,386,161	14	59	104.2%	24.8%	23.8%	40.0%	5.6%	-7.6%	0.0%
D2: Central West	$1,300,000	$1,293,750	4	28	109.8%	10.6%	11.9%	33.3%	-16.7%	-10.4%	33.3%
D3: Southwest	$890,000	$890,000	2	22	99.7%	27.1%	27.1%	100.0%	25.4%	36.7%	-33.3%
D4: Twin Peaks	$1,325,000	$1,325,000	1	21	106.0%	130.4%	127.6%	-75.0%	31.2%	49.5%	-80.0%
D5: Central	$1,500,000	$1,505,850	29	34	108.8%	0.3%	0.2%	-17.1%	4.7%	8.0%	-17.1%
D6: Central North	$1,192,500	$1,269,819	24	55	108.9%	4.3%	11.2%	-7.7%	-0.6%	2.4%	-17.2%
D7: North	$1,945,000	$2,069,077	26	33	102.1%	30.8%	7.9%	8.3%	16.1%	0.8%	-21.2%
D8: Northeast	$1,005,000	$1,179,411	46	57	100.2%	13.7%	10.6%	70.4%	1.5%	9.9%	-6.1%
D9: Central East	$900,000	$1,205,786	55	75	99.9%	-12.2%	-5.4%	-16.7%	-15.1%	-5.9%	-30.4%
D10: Southeast	$710,000	$719,600	5	84	99.3%	13.0%	3.7%	-58.3%	9.2%	18.0%	66.7%

The Shutdown, In Beige

November 26, 2025 -- So-called "hard" economic data continue to trickle out from government sources again, but much of it is months old at this point. While helpful, it is only when data comes available to bridge the October-November shutdown gap that changes to trends -- if any -- will become evident.

Seeing as to how September's sales were already the second highest annualized monthly figure this year (4.10 million), it is likely that we'll see sales trending toward perhaps a 4.15 to 4.19 million pace when existing home sales are tallied for the closing months of 2025. Inventories of homes to buy have improved and home prices are just burbling along, so if mortgage rates can manage a broad softening trend to close the year and start 2026, we may start to see some regular improvement in home sales even before the spring homebuying season kicks in.

Mortgage rates have mostly been drifting sideways in recent weeks, but at least they are doing so at about a one-year-low level, give or take a little. Absent a plummet in rates, the onset of the holiday season will tend to damp mortgage activity, but there was a 0.2% increase in requests for mortgage credit in the week ending November 21. The Mortgage Bankers Association reported that there was a 7.6% increase in applications for funds to purchase homes (perhaps presaging a November increase for the Realtors' PHSI) while refinancing activity fizzled out by 5.7% for the week, a fourth straight decline for this component. To get refinancing rolling again, rates will have to trend to (or below) the 6% mark, opening up the window for the next group of homeowners. If or when rates can actually manage to crack the 6% mark again, it will be for the first time in more than three years.

While they aren't likely to manage a move that will get them to the 6% mark (let alone below) over the next week, mortgage rates do appear to be poised to decline a bit more. The influential yield on the ten-year Treasury has flirted with the 4% mark a number of times this week, and spreads have thinned out a bit of late. Combined, they suggest that we will see a 5-7 basis point decline in the average offered rate for a conforming 30-year fixed-rate mortgage as reported by Freddie Mac next Thursday.

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