SF Homes Are Selling 25% Over Asking. 

It's Pride month, kids are out of school, and the San Francisco real estate market is absolutely not taking a summer break. If anything, May 2026 was one of the strongest months we've seen in years, and the data backs that up.

Here's everything you need to know.

The Big Picture: SF Real Estate Has Officially Shifted

San Francisco's housing market did not just have a strong May. It continued a run of strength that has defined the entire year. After six months of elevated buyer demand, tight inventory, and fast-moving listings, May reinforced what many of us in the market have been saying for months: this is a different market than we had a few years ago.

The early-year momentum has not faded. Competition remains fierce, closed sales are climbing, and sellers are seeing results that would have felt like wins even at the peak of the last cycle. That is true across both single family homes and condos, which is notable because the condo market has historically been more uneven.

Rates are sitting at 6.25%. Not the pandemic lows we all got used to, but buyers have clearly adjusted their expectations and are moving anyway.

Single Family Homes: The Numbers Are Wild

If you own a single family home in San Francisco right now, congratulations. The May 2026 data is exceptional.

• Median sales price: $2,200,000 (up 22.2% year over year)

• Median price per square foot: $1,193 (up 12.9%)

• Sellers received 124.9% of list price on average

• 83.8% of homes sold over asking

• Median days on market: 12

• Closed sales up 18.7% year over year

• Month-end inventory down 20.5%

Let that sink in: more than 8 out of 10 single family homes sold above asking price in May. The median sale-to-list ratio of 124.9% means sellers aren't just getting list price, they're blowing past it.

Pending sales were down 10.2% month over month, but that number is deceptive. More homes are trading before they even hit full public exposure, so the demand is actually stronger than the pending data suggests. Buyers are moving fast because they have to.

If you're thinking about what your home is worth right now, get a free home valuation here. The answer might surprise you.

Condos and TICs: A Real Comeback Story

The condo market is not just holding its own, it's genuinely heating up. This is a meaningful shift from the more uneven condo environment we saw over the past few years.

• Median sales price: $1,325,000 (up 2.6% year over year)

• Median price per square foot: $1,153 (up 12.9%)

• 59.3% of condos sold over list price (up 35.4% from last year)

• Sellers received 107.8% of list price on average

• Median days on market: 15

• Closed sales up 21.7% year over year

• Pending sales up 10.3%

• Month-end inventory down 24.1%

The standout metric here is competition. Nearly 60% of condos selling over list price, up 35% from last year, tells you buyers are re-engaging with this segment in a real way. When the product is right, the location is good, and the price is set strategically, condos are moving and moving fast.

For buyers, this means the window on "undervalued condos" is closing. For sellers, it means now is actually a good time to list if you've been waiting for the right moment.

What This Means If You're Buying

Buying in this market takes strategy. Homes are moving in 12 to 15 days and most are going over asking, so you need to be ready to move quickly and write competitive offers. That does not mean being reckless, it means being prepared.

The good news? San Francisco has incredible neighborhoods at a range of price points, and there are still smart buys out there. The Buyer's Guide on my website is a good place to start if you're newer to the SF market. You can also use the mortgage calculator to pressure-test what makes sense at today's rates before you ever write an offer.

If you're a first-time buyer wondering where to even begin, I wrote a whole post about buying your first home in San Francisco that breaks it down in plain language.

What This Means If You're Selling

You are sitting in an excellent position. Inventory is low, demand is high, and buyers are willing to pay well over asking when a home is priced correctly and shows well.

The key phrase there is "priced correctly." Overpricing in any market, even a strong one, will slow you down. The homes that are hitting 124.9% of list are priced to generate competition, not priced at what the seller hopes to get. That distinction matters.

If you're curious about timing, strategy, or what your specific home might fetch right now, my Seller's Guide covers the process end to end. And if you want a real conversation about your specific situation, let's connect.

Luxury Market: SF Is Still Moving Trophy Properties

May also saw significant luxury activity, with notable sales including properties at $24M, $17.25M, $16.7M, $15M, and $11M, among others. The high end of the market remains active, which is a strong signal for overall market confidence.

A Note From Me

I've been showing up for you in this newsletter and on Instagram every week, sharing open houses, design trends, and yes, the occasional bathtub with a view. What I want you to know is that behind all of it is a genuine commitment to helping people navigate real transitions.

Property and life transitions, especially for women navigating divorce, career shifts, and midlife reinvention, is the work I was built for. If that resonates with you or someone you know, I'd love to be introduced. And if you want to understand the "why" behind what I do, I wrote about it here.

Ready to talk? Reach out anytime. I'm always happy to start with a no-pressure conversation.

Alexis Kushner is a San Francisco and Marin County REALTOR with Vanguard Properties. CA DRE# 02438773. All data sourced from SFAR MLS. All information deemed reliable but not guaranteed.

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