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San Francisco Market Update - August 2026

Ascend RE August 25, 2026

San Francisco Market Update - August 2026

Prices are still up sharply from last year, inventory remains near record lows, and sellers continue to hold the advantage across both single-family homes and condos.

Quick Take

  • Single-family prices: $2,050,000 median — up 24.87% YoY, though down 4.65% from June's peak
  • Condo prices: $1,250,000 median — up 8.93% YoY and 4.17% month-over-month
  • Inventory: Just 507 homes for sale citywide (single-family down 42.11%, condos down 43.16% YoY)
  • Speed of sale: Single-family homes ~13 days on market; condos down to 20 days

Prices: Cooling From the Peak, Still Way Up YoY

  • Single-family median has topped $2M for six straight months
  • Condos are bucking the summer slowdown, posting their strongest YoY gain of the season
  • Buyers are paying well above asking:
    • Single-family: 26% over list (vs. 11% last July)
    • Condos: 4% over list (vs. a 3% discount last July)

Inventory: Historically Tight

  • 154 single-family homes for sale (down from 266 last July)
  • 353 condos for sale (down from 621 last July)
  • New listings aren't the problem — sales are absorbing supply faster:
    • Condo sales up 39.2% YoY (245 vs. 176)
    • Single-family new listings up 13.5% YoY, but sales dipped slightly (177 vs. 193)

Days on Market: Condos See the Biggest Shift

  • Single-family: 13 days (up slightly from 12, but still faster than last July's 14)
  • Condos: 20 days — down from 43 days last July, a 53.49% drop
  • Condos have historically slowed in summer (51 days last August); that seasonal lag has largely vanished this year

Bottom Line: A Seller's Market on Both Fronts

Using Months of Supply Inventory (MSI) — where ~3 months is balanced, below 3 favors sellers:

  • Single-family: 0.8 months of supply (down 42.86% YoY) — homes would sell out in ~24 days at the current pace
  • Condos: 1.7 months of supply, down from 3.6 months last July — a shift from balanced to firmly seller-favored

With both segments under two months of supply, fast sale times, and homes routinely selling above asking, sellers head into fall with the upper hand.

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