Statistical Tables | | Solid Into Any Shutdown

Trends at a Glance
(Single-family Homes)
  Sep 25 Aug 25 Sep 24
Home Sales: 168 146 142
Median Price: $1,499,500 $1,249,500 $1,610,000
Average Price: $1,931,047 $1,685,682 $1,950,888
SP/LP: 99.4% 97.2% 109.3%
Days on Market: 25 33 26
(Lofts/Townhomes/TIC)
  Sep 25 Aug 25 Sep 24
Condo Sales: 219 182 143
Median Price: $999,000 $962,500 $1,100,000
Average Price: $1,229,555 $1,203,106 $1,305,660
SP/LP: 98.5% 98.1% 102.5%
Days on Market: 46 71 56

Home Prices Down, Sales Up in September

The median sales price for single-family, re-sale homes was down 6.9% year-over-year

The average sales price for single-family, re-sale homes was up 14.6% month-over-month. Year-over-year, it was down 1%.

Sales of single-family, re-sale homes rose 18.3% year-over-year. There were 168 homes sold in San Francisco last month. The average since 2000 is 214.

The median sales price for condos/lofts was down 9.2% year-over-year.

The average sales price was down 5.8% year-over-year.

Sales of condos/lofts rose 53.1% year-over-year. There were 219 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, rose from 97.2% to 99.4% for homes. The ratio for condos/townhomes rose from 98.1% to 98.5%.

Average days on market, or the time from when a property is listed to when it goes into contract, was 25 for homes and 46 for condos/lofts. 

Momentum Statistics

Sales momentum…
for homes rose from +5.6 to +6.7. Sales momentum for condos/lofts was up 3.7 points to +14.8.

Pricing momentum…
for single-family homes fell 0.8 of a point to +0. Pricing momentum for condos/lofts fell 1.2 points to –2.9.

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.

September 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 $1,499,500 $1,931,047 168 25 99.4% -6.9% -1.0% 18.3% 20.0% 14.6% 15.1%
D1: Northwest $2,200,000 $2,726,733 15 39 111.7% -14.6% 18.2% 36.4% 37.5% 43.0% 36.4%
D2: Central West $1,615,000 $1,880,781 32 14 120.8% 3.9% 13.5% 18.5% -0.6% 9.1% 28.0%
D3: Southwest $1,287,500 $1,287,500 2 13 129.1% 5.1% 2.8% -84.6% -6.5% -7.0% -87.5%
D4: Twin Peaks $1,775,500 $1,922,925 20 18 112.5% -13.4% -6.6% 42.9% -7.3% -2.1% 5.3%
D5: Central $3,050,000 $3,429,820 25 25 111.6% 33.3% 23.5% 0.0% 63.8% 66.0% 127.3%
D6: Central North $2,150,000 $2,760,000 3 93 105.6% -14.1% 10.2% 50.0% -17.3% 6.2% 200.0%
D7: North $4,277,500 $4,334,000 10 13 108.9% -2.7% -8.9% 66.7% -28.7% -23.2% 42.9%
D8: Northeast $2,977,500 $2,796,250 4 62 101.3% n/a n/a n/a -77.1% -78.5% 300.0%
D9: Central East $1,730,000 $1,747,476 21 25 119.7% -1.8% -14.4% 110.0% 28.1% 16.7% 23.5%
D10: Southeast $999,500 $1,081,069 36 35 109.3% -9.1% -4.3% 5.9% -2.4% 0.5% -5.3%

September 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 $999,000 $1,229,555 219 46 98.5% -9.2% -5.8% 53.1% 3.8% 2.2% 20.3%
D1: Northwest $1,350,000 $1,500,058 14 14 108.0% 31.7% 34.2% 100.0% 14.6% 23.0% 250.0%
D2: Central West $1,560,000 $1,443,333 3 27 98.9% 84.6% 81.9% -40.0% 160.0% 140.6% 200.0%
D3: Southwest $499,000 $499,000 2 16 107.9% -36.7% -36.7% 100.0% -60.3% -57.4% -50.0%
D4: Twin Peaks $650,000 $689,000 5 60 104.7% -5.2% 0.4% 150.0% -5.5% 0.1% 150.0%
D5: Central $1,150,000 $1,272,200 35 34 106.3% -20.7% -11.0% 66.7% 17.9% 5.4% 75.0%
D6: Central North $1,138,000 $1,230,127 22 50 107.7% -10.6% -1.0% 175.0% 8.4% 5.1% 46.7%
D7: North $1,772,500 $1,910,303 24 35 103.0% 26.7% 16.6% -20.0% 30.8% 20.8% 41.2%
D8: Northeast $906,500 $1,101,841 36 56 100.1% -17.6% -21.5% 56.5% 5.7% -2.7% -10.0%
D9: Central East $915,000 $1,198,200 71 54 99.1% -6.2% 4.8% 65.1% -8.5% 1.3% -7.8%
D10: Southeast $650,000 $610,000 3 37 99.7% -7.1% -17.2% 0.0% -29.7% -34.0% 50.0%

Solid Into Any Shutdown

September 26, 2025 -- The National Association of Realtors reported that sales of existing homes slid by 0.2% in August to a 4 million annual rate. Give or take a little, sales have hovered around this level for the last six months. This is unsurprising, given high home prices and mortgage rates that were essentially flat all summer, only meaningfully declining in recent weeks. The supply of homes available to buy remained at 4.6 months at the present rate of sale; based on this inventory-to-sales ratio, you would have to go back to 2016 to see the last time the I/S figure routinely in this neighborhood. Existing home prices edged a little lower in August to $422,600 but were still 2% higher this August than last. We are expecting to see somewhat greater that typical seasonal declines in median selling prices this year, but lower mortgage rates may help support buyer demand (and prices) deeper into the fall.

Market conditions really haven't changed or improved for some time, so essentially level sales of existing homes in August were expected to be seen. What then to make of the 20.5% increase in sales of newly-constructed homes last month? Certainly, recent surveys of builder moods and reported sales conditions gave no inkling of a surge in buyer demand, but the Census Bureau reported that sales occurred in August at an 800,000 annualized pace, way above expectations. The out-of-the-blue spike puts new home sales at their best level since January 2022, but we suspect that at least some of the gains will be revised away, provided new data is actually released next month.

We know that home builders have been using price cuts and financing incentives to move homes, and the bump in sales reduced the number of new homes for sale to 7.4 months of supply at the present rate of sale, an actual 490,000 (annualized) units available. This number has been drifting down in recent months and new construction of homes has slowed over that time as well. Somewhat pricier new homes seem to have sold in August, as the median selling price bumped up to $413,500, some $18,000 more than July's figure and up by 1.9% compared to August 2024.

After a blast higher a week ago, requests for mortgage credit leveled off, as the Mortgage Bankers Association reported a 0.6% increase in mortgage applications in the week ending September 19. Inquiries for funds to purchase homes managed a 0.3% increase for the week, a third consecutive gain. Refinancing activity shot higher a week ago but there little follow-up to that spike as the 0.8% increase in the latest week pales in comparison to the 57.7% leap the week prior. Still, refi activity remains relatively elevated and at the highest levels seen for a few years. Mortgage rates near one-year lows are compelling for at least some homeowners, especially those who hold VA and FHA-backed mortgages, as these offer streamlined refinancing opportunities.