When friends ask me what a house costs in San Francisco now, I've started answering with a question: do you want the list price or the real price? This quarter, those two numbers are very far apart.
How much does a house cost in San Francisco in 2026?
The median single family home in San Francisco sold for $2,000,000 in Q3 2026, up 23.1% from $1,625,000 in Q3 2025. Price per square foot rose 17.5%, from $988 to $1,161.
How competitive is the single family market?
Extremely. In Q3 2026:
- 87.8% of houses sold over asking, up from 71.7% a year ago
- Sellers received an average of 127.2% of list price, up from 113.2%
- The median house sold in 12 days
In plain terms, a house listed at $1,500,000 that performed at the average would have closed around $1,908,000.
Why are there so few houses for sale?
Only 191 single family homes were for sale on the last day of September, down 21.4% from 243 a year ago. Sales held nearly steady at 523, down just 1.3%. When sales stay flat and inventory shrinks, each new listing faces more buyers.
One number looks surprising at first: homes going into contract fell 21.0%, to 443. That's not a sign of weak demand. With so little on the market, there were simply fewer homes available to go into contract, and some sales happened off market.
What this means if you're buying a house
- Search below your ceiling. With average overbids near 27%, homes listed at your maximum budget will often close well above it.
- Get fully underwritten before you write. Sellers choosing between offers want certainty.
- Study recent closed sales in your target neighborhood, not active listings.
What this means if you own a house
Your home has likely gained meaningful value in the past year. If you've been thinking about a move, this is a strong market to test, especially with so little competing inventory.
Curious what your house would sell for today, or what you can realistically buy at your budget? Let's talk.
Frequently asked questions
What is the median price of a house in San Francisco?
$2,000,000 in Q3 2026.
How much over asking do San Francisco houses sell for?
An average of 127.2% of list price in Q3 2026.
How many houses are for sale in San Francisco?
191 at the end of Q3 2026, down 21.4% year over year.
Source: Vanguard Properties Q3 2026 San Francisco Market Update, SFAR MLS and BrokerMetrics. Example sale price is illustrative. Information deemed reliable but not guaranteed.
Alexis Kushner, REALTOR®, Vanguard Properties | DRE #02438773
