San Francisco sale prices jumped 16.4 percent in January from a year earlier to a median of more than $1.15 million even as home sales recorded a sharp 12.2 percent slowdown amid a shortage of properties for sale.
There were 467 houses on the market at the end of last month, a slight improvement from the same time last year but not enough to satisfy buyer demand. Typically, a six-month supply of homes signals a market balanced between buyers and sellers. San Francisco hasn’t had even a two-month supply since March 2012. On average, homes took three weeks to go under contract in January.
The city remained a seller’s market, but buyers showed less appetite for bidding up prices to win a house. More than 63 percent of San Francisco homes sold for more than what sellers were asking, but that share has been shrinking and was at its lowest in a year.
“Most single-family homes do still sell above list price, but the condo market has started to slow down,” Redfin agent Mark Colwell said. “Many buyers have just reached their limit and certain property types, like one-bedroom condos for example, may be approaching a ceiling. Those types of listings are seeing fewer multiple offers.”
Bay Area
Across the greater Bay Area, the median sale price rose 6.5 percent year over year to $960,000. Sales slowed nearly 2 percent compared to a year earlier.
Hot Neighborhoods
Russian Hill was the city’s most expensive neighborhood last month, with a median sale price of $1.85 million, up 2.8 percent from a year earlier. Pacific Heights ($1.80 million), Lower Haight ($1.73 million) and Noe Valley ($1.66 million) rounded out the priciest communities.
Ashbury Heights fell from first place to fifth as supply plummeted and only six homes sold. The median sale price was $1.52 million in January and the neighborhood had only three homes listed for sale at the end of the month. Despite its lower ranking, Ashbury Heights still posted strong year-over-year price gains.
Tenderloin remained the city’s most affordable neighborhood, posting a median sale price of $507,500. Typical homes in Merced Heights and Financial District, the second and third least-expensive neighborhoods, sold for less than $800,000.
See our city page for the most up-to-date data on San Francisco home prices.
Here’s what’s happening in your neighborhood:
| Neighborhood | Median Sale Price | Year-Over-Year | Homes Sold | Year-Over-Year | Inventory | Year-Over-Year | New Listings | Median Days on Market | Avg Sale-to-List |
|---|---|---|---|---|---|---|---|---|---|
| Ashbury Heights | $1,522,500 | 17.1% | 6 | -62.5% | 3 | 50.0% | 8 | 20 | 113.9% |
| Bernal Heights | $1,133,000 | 0.7% | 44 | -10.2% | 14 | -12.5% | 36 | 13 | 110.8% |
| Civic Center / Van Ness | $810,000 | 9.5% | 15 | -40.0% | 14 | 366.7% | 29 | 26 | 100.7% |
| Crocker Amazon | $905,000 | 20.7% | 12 | 9.1% | 2 | 0.0% | 6 | 24 | 113.3% |
| Excelsior | $901,038 | 25.6% | 18 | 5.9% | 11 | -15.4% | 15 | 20 | 107.2% |
| Financial District | $775,000 | -58.7% | 7 | 40.0% | 6 | 0.0% | 8 | 17 | 105.4% |
| Forest Hill | $1,509,000 | -0.7% | 6 | -33.3% | 1 | 0.0% | 3 | 22 | 113.1% |
| Haight Ashbury | $1,405,000 | 37.1% | 16 | 6.7% | NA | NA | NA | 20 | 103.2% |
| Hayes Valley | $1,350,000 | 2.7% | 8 | -11.1% | 9 | 125.0% | 17 | 37 | 98.9% |
| Ingleside | $870,000 | 31.3% | 10 | 100.0% | 4 | 100.0% | 5 | 18 | 110.2% |
| Inner Richmond | $1,237,500 | -10.0% | 16 | -27.3% | 8 | 60.0% | 10 | 22 | 109.5% |
| Inner Sunset | $1,370,000 | 3.1% | 14 | -33.3% | 7 | 0.0% | 17 | 15 | 119.0% |
| Lower Haight | $1,732,500 | 61.9% | 12 | -25.0% | 9 | 80.0% | 14 | 18 | 108.3% |
| Merced Heights | $710,000 | 4.0% | 12 | -40.0% | 3 | -25.0% | 11 | 22 | 113.5% |
| Miraloma Park | $1,262,500 | 5.2% | 30 | -14.3% | 7 | 133.3% | 20 | 14 | 110.6% |
| Mission | $1,195,000 | 25.1% | 25 | -39.0% | 17 | -26.1% | 26 | 19 | 103.8% |
| Mission Bay | $1,110,000 | 40.5% | 28 | 0.0% | 7 | 40.0% | 14 | 14 | 102.6% |
| Nob Hill | $1,300,000 | -5.5% | 21 | 31.3% | 10 | -28.6% | 19 | 28 | 99.5% |
| Noe Valley | $1,656,944 | -0.1% | 42 | -10.6% | 20 | 33.3% | 33 | 18 | 107.6% |
| Outer Mission | $800,000 | 3.2% | 14 | 7.7% | 4 | 0.0% | 6 | 19 | 110.1% |
| Outer Richmond | $998,500 | -9.8% | 25 | 150.0% | 8 | 0.0% | 16 | 22 | 105.6% |
| Outer Sunset | $1,050,000 | 30.4% | 37 | 0.0% | 10 | 66.7% | 25 | 17 | 118.2% |
| Pacific Heights | $1,806,500 | 15.1% | 44 | -25.4% | 27 | 285.7% | 34 | 17 | 104.4% |
| Parkside | $1,190,000 | 27.3% | 16 | -36.0% | 8 | 100.0% | 18 | 13 | 118.1% |
| Portola | $950,000 | 30.8% | 10 | -47.4% | 6 | 100.0% | 13 | 16 | 107.3% |
| Potrero Hill | $1,149,000 | 6.9% | 58 | 81.3% | 13 | 30.0% | 58 | 17 | 105.3% |
| Rincon Hill | $1,198,000 | 21.3% | 22 | -15.4% | 14 | 75.0% | 21 | 33 | 97.8% |
| Russian Hill | $1,850,000 | 2.8% | 32 | 3.2% | 8 | 33.3% | 24 | 14 | 105.7% |
| South of Market | $1,051,500 | 9.9% | 111 | 11.0% | 40 | 17.6% | 81 | 23 | 101.6% |
| Sunnyside | $1,300,000 | 59.2% | 17 | -10.5% | 5 | 66.7% | 18 | 13 | 113.8% |
| Sunset District | $1,200,000 | 21.2% | 117 | -9.3% | 34 | 36.0% | 90 | 17 | 117.3% |
| Telegraph Hill | $876,100 | 0.7% | 9 | 28.6% | 5 | -16.7% | 12 | 12 | 103.0% |
| Tenderloin | $507,500 | 53.5% | 4 | 100.0% | 1 | 0.0% | 3 | 24 | 103.1% |
| Twin Peaks | $1,192,999 | 31.4% | 3 | -57.1% | 1 | -50.0% | 7 | 22 | 113.9% |
| Visitacion Valley | $850,500 | 25.1% | 11 | -21.4% | 2 | -87.5% | 8 | 21 | 111.6% |
| Western Addition | $1,029,000 | 16.5% | 8 | -50.0% | 6 | 200.0% | 8 | 25 | 111.7% |
| San Francisco | $1,150,505 | 16.4% | 258 | -12.2% | 467 | 1.7% | 465 | 21 | 105.8% |
NOTE: Not all neighborhoods are listed, but totals for San Francisco encompass entire city. Data is based on listing information and might not reflect all real estate activity in the market. Neighborhood-specific data is measured over the three months ended Jan. 31. Inventory measures listings active as of Jan. 31.
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