May 2026 Market Report
Patrick Carlisle, who was our Chief Market Analyst, has retired after 37 years (!) in the industry, so forgive us if our charts are not as robust as his used to be. Some highlights:
Spring momentum going predictably strong, with no signs of this pace slowing down yet. Median home price hit $1,650,000, up 25.8% year-over-year (YOY).
Inventory remains extremely tight. Only 528 sold homes in April 2026 which, while 38 more than April 2025, is 235 fewer properties than in the heated days of 2021. Consequently, prices have been escalating drastically. On average, houses sold at 115.4% of the list price, 8% higher than last year.
However, that is just the average. In some key areas, we have seen houses go for hundreds of thousands if not millions of dollars over asking price. Most recently. 2512 Union Street in Cow Hollow closed at $15,000,000 — a staggering 188.68% over its list price of $7,950,000. It went pending in just ten days.
We’re even seeing a rebound of sorts with condos, with prices up 18.1% YOY citywide, mainly driven by those performing well in sought-after neighborhoods like Noe Valley and the Marina.
This has buyers jumping into action faster than ever. Well-priced, well-presented homes are attracting attention and getting snapped up quickly. In April 2026 we saw an average days on market (DOM) of just 13, down 4 days from a year ago. The aggressive climate of multi-offer scenarios means buyers often end up bidding numerous times before winning. Those who are motivated and fully "ready" are still finding success by and by.
Anecdotally, we’re hearing of people jumping on the wave, selling their single family houses for more than they ever imagined, and downsizing or even renting while they plan whats next.
San Francisco House Prices
Historical County Median Sale Price Trends
Many factors affect home values: architectural style, quality of construction, square footage, condition, amenities, light, views, privacy, outdoor space, “bonus” rooms, additional parking, quality of location within the neighborhood, and so on.
San Francisco Median Price Per Square Foot
Historical County Median Sale Price Trends
The calculation of dollar per square foot is based on interior living space and doesn’t include garages, attics, basements, rooms built without permit, decks, patios or lot size (though all these can add value to the home).
San Francisco Sales
Historical County Sale Trends
Closed sale trends reflect the number of completed real estate transactions over the past five years and provide insight into market activity, buyer demand, and overall housing market health across different time periods and seasonal patterns.
San Francisco New Listings
Historical County New Listing Trends
New listing trends reflect the number of properties entering the market over the past five years and provide insight into seller activity, inventory levels, and overall housing supply across different time periods and seasonal patterns.
San Francisco Inventory
Historical County Active Listing Trends
Active inventory trends reflect the number of properties available for sale at any given time over the past five years and provide insight into market supply, competitive conditions, and the balance between buyers and sellers across different time periods and seasonal patterns.
San Francisco DOM
Historical County Days on Market Trends
Days on market trends reflect the median time properties remain listed before selling over the past five years and provide insight into market pace, buyer urgency, and whether conditions favor buyers or sellers across different time periods and seasonal patterns.
San Francisco Sale/List%
Historical County Sale to List Percentage Market Trends
Sold to list percentage trends reflect the ratio between final sale prices and original asking prices over the past five years and provide insight into market competitiveness, pricing accuracy, and whether conditions favor buyers or sellers across different time periods and seasonal patterns.
San Francisco House Prices
Many factors affect home values: architectural style, quality of construction, square footage, condition, amenities, light, views, privacy, outdoor space, “bonus” rooms, additional parking, quality of location within the neighborhood, and so on. How these prices apply to any particular home is unknown without a specific comparative market analysis.
San Francisco Median PPSF
The calculation of dollar per square foot is based on interior living space and doesn’t include garages, attics, basements, rooms built without permit, decks, patios or lot size (though all these can add value to the home). Many factors affect home values: architectural style, quality of construction, square footage, condition, amenities, light, views, privacy, outdoor space, “bonus” rooms, additional parking, quality of location within the neighborhood, and so on.
San Francisco Median SQFT
Square footage is based upon interior living space and doesn’t include garages, attics, basements, rooms built without permit, decks, patios or lot size. Square footage is based upon interior living space and doesn’t include garages, attics, basements, rooms built without permit, decks, patios or lot size.
San Francisco Neighborhoods with Most House Sales
Many factors affect home values: architectural style, quality of construction, square footage, condition, amenities, light, views, privacy, outdoor space, “bonus” rooms, additional parking, quality of location within the neighborhood, and so on.
San Francisco Days on Market (DOM)
Lower days-on-market generally signify stronger buyer demand. It is not unusual for more expensive markets to have higher days-on-market readings, though this is not always the case.
San Francisco Sold/List%
Percentage of Listings Selling Over List Price in April
Higher percentages of sales over list price typically signify greater buyer competition for new listings, but this statistic can be distorted by strategic underpricing strategies by sellers and listing agents.
San Francisco Condo Prices
Many factors affect home values: architectural style, quality of construction, square footage, condition, amenities, light, views, privacy, outdoor space, “bonus” rooms, additional parking, quality of location within the and so on.
The calculation of dollar per square foot is based on interior living space and doesn’t include common areas, parking spaces, rooms built without permit, storage rooms, decks or patios. All things being equal, a smaller unit will typically sell for a higher dollar per square foot value, but the floor a unit is on – and its views – can play a large role in condo values.
San Francisco Condo SQFT
Comparing median sales prices between neighborhoods is not apples to apples, since the median size of units (as well as many other characteristics) vary so widely. The median condo size for the entire city is 2 bedrooms, 2 baths, 1162 sq.ft. Median unit size does not include storage, parking or outdoor space (deeded or not).
San Francisco Top Condo Sales
The character of condo buildings varies immensely between neighborhoods, from Victorian & Edwardian flats to towering, new high-rise projects – with many other styles built in between.
San Francisco Condo Days on Market (DOM)
Lower days-on-market generally signify stronger buyer demand, but there are various factors at play. Generally speaking, the house market has seen more heated dynamics than the city’s condo market, and thus lower days-on-market readings.
San Francisco Condo Sold/List%
Higher percentages of sales over list price typically signify more heated markets and greater buyer competition for new listings.
Selected Macroeconomic Indicators
Financial Markets, 2025 - 2026 YTD
Percentage Increases in S&P 500 & Nasdaq since 1/2/25
Data per MarketWatch.com, https://www.marketwatch.com/investing/index/comp/download-data and https://www.marketwatch.com/investing/index/spx/download-data. Data from source deemed reliable but may contain errors and subject to revision. Financial market values change constantly and all numbers to be considered approximate.
Both indices hit new all-time highs on April 22, 2026.
Large changes in stock markets can dramatically affect household wealth, consumer confidence and housing markets, especially more affluent markets.
Crude Oil, Price per Barrel
Since February 2, 2026, "Front-Month Futures" Price*
*Per Yahoo! Finance, front-month-futures price, https://finance.yahoo.com/quote/CL%3DF/history/. Data from sources deemed reliable but may contain errors. All numbers approximate. Different types of crude oil have differing prices.
Dramatic changes in oil prices can have considerable effects on manufacturer & consumer prices, transportation and agricultural costs, inflation, consumer confidence and financial markets.
The Price of Gas, 2025 - 2026 YTD
U.S. Average, Price per Gallon, by Week*
* U.S. Energy Information Administration, US Regular All Formulations Gas Price: Weighted average based on sampling of approximately 900 retail outlets. Not seasonally adjusted. Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GASREGW and daily updates per https://gasprices.aaa.com/. Data from sources deemed reliable but may contain errors.
Bitcoin Price
Data per https://www.nasdaq.com/market-activity/cryptocurrency/btc/historical. Data source deemed reliable but may contain errors and subject to revision. Cryptocurrency values change constantly and all numbers to be considered approximate.
The Price of Gold
By week since March 2025
Compass is a licensed real estate broker. 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.