I've lived in San Francisco my whole life, and I own my home in the Castro, so I watch these numbers like a neighbor as much as an agent. And this quarter, the numbers are loud.
How is the San Francisco housing market right now?
The San Francisco housing market is very competitive heading into fall 2026. In Q3 2026 (July through September), median prices for both single family homes and condos reached their highest Q3 levels on record, while inventory dropped by more than 20%.
Here's the quarter at a glance:
Q3 2026 | Single family homes | Condos, TICs, co-ops |
|---|---|---|
Median sale price | $2,000,000 (+23.1% year over year) | $1,269,000 (+16.4%) |
Price per square foot | $1,161 (+17.5%) | $1,126 (+15.5%) |
Median days on market | 12 | 15 (down from 37) |
Sold over asking | 87.8% | 57.0% |
Average % of list price received | 127.2% | 106.9% |
Homes sold | 523 | 732 |
For sale at quarter end | 191 (down 21.4%) | 472 (down 29.1%) |
Why are San Francisco home prices going up?
The short answer is supply. There simply aren't enough homes for sale. At the end of September, only 191 single family homes were on the market citywide. At Q3's sales pace, that's roughly one month of supply. Condos sat closer to two months. A balanced market usually carries four to six.
Demand is strong too. Bay Area employment keeps growing, AI and tech investment is concentrated here, and strong stock markets have given many buyers more confidence. What stands out to me: all of this happened without mortgage rates dropping much. Buyers are moving because they want to be here, not because money got cheap.
Is it a good time to buy a home in San Francisco?
It can be, if you go in prepared. Prices have risen sharply, but waiting for inventory to pile up hasn't paid off this year; inventory went the other way. The buyers who win right now know their true budget, are fully underwritten (not just pre-qualified), and have studied what homes actually close for, not what they list for.
Is it a good time to sell?
For many owners, yes. With homes selling in about two weeks and most single family homes going over asking, sellers have real leverage. The key is pricing and preparation, which I cover in the seller post of this series.
The bottom line
Q3 2026 told a clear story: high prices, low inventory, fast sales, and competition in every property type. Over the next few weeks I'll break this down by home type, neighborhood, and what it means for buyers and sellers specifically.
Want to know what this means for your neighborhood or your budget? Reach out and I'll pull the numbers for you.
Frequently asked questions
What is the median home price in San Francisco in 2026?
In Q3 2026, the median single family home sold for $2,000,000 and the median condo for $1,269,000.
How fast are homes selling in San Francisco?
Single family homes had a median of 12 days on market in Q3 2026; condos had 15.
Are San Francisco homes selling over asking?
Yes. 87.8% of single family homes and 57.0% of condos sold above list price in Q3 2026.
Source: Vanguard Properties Q3 2026 San Francisco Market Update, SFAR MLS and BrokerMetrics. Months of supply calculated from quarter-end inventory and Q3 sales. Information deemed reliable but not guaranteed.
Alexis Kushner, REALTOR®, Vanguard Properties | DRE #02438773
