June 2026: San Francisco Real Estate Insider
Good Morning.
As we move into the second week of June, the San Francisco market continues to move upward with such velocity that most seasoned real estate professionals throw the standard process of determining value (i.e., comparable sales) away almost entirely.
Historically, comparable sales from the previous six months formed the foundation of pricing decisions. Today, a sale from six months ago seems like years ago in terms of its relevance to an offer on a similar property. To establish a value for a property that I am submitting an offer on for a client, I am now calling listing agents with properties in contract to ask about the number of offers received, median offer prices, and expected sale prices. Even reviewing comparable sales from two months ago can seem stale when establishing value today.
San Francisco Real Estate Market Trends: Prices Continue to Rise
The current market is characterized by little inventory and a lot of capital looking for that limited inventory. Looking at the market on a rolling three-month basis, this dynamic pushed the median single-family sales price to a new record high of $2,300,000, up 21%.
The median days on market dropped to a paltry 12 days, down 8%.
One data point that helps explain buyer competition—and the lack of inventory available to buyers—is the relationship between selling price and list price. Single-family homes are selling at 125% of list price, up 10%.
Luxury Homes San Francisco Continue to Command Premium Pricing
The luxury single-family market ($6M+) continues to see buyers pay stratospheric prices. As I mentioned earlier, today's "crazy" sale is tomorrow's new baseline list price. The number of sold properties jumped 9% to 594. Properties that may have been worth $5M in 2024 are now commanding prices north of $7M. That's how competitive it has become.
The median days on market for luxury properties also fell 8%, to just 12 days.
Two examples of feverish buyer demand:
2512 Union Street in Cow Hollow. This six-bedroom, 5,700-square-foot home was listed at $7.95M. It sold for $15M, or 189% of asking.
212 Spruce Street in Presidio Heights. This 4,100-square-foot home was listed for $4.4M and sold a week later for $8.2M, or 187% of asking.
Homes for Sale San Francisco: Competition Remains Intense
Competition for single-family homes remains fierce across virtually all price points and in most neighborhoods. I am also starting to see homeowners with sub-3% mortgages begin to let go and list their homes for sale. As sales prices continue to rise and several local companies move closer to anticipated IPOs, the handwriting may be on the wall.
If you are considering whether to sell your home in San Francisco, this may be a market worth watching closely.
Need a San Francisco Home Valuation?
If you think it may be a good time to consider letting go, reach out and I can provide a valuation of your property. That should give you the information needed to make an informed decision about whether to stay or move on.
Call or email anytime.
Scott Whelan
San Francisco Real Estate Agent/Broker