The following is adapted from the February 2024 Monthly Indicators report published by the San Francisco Association of REALTORS®.
Across the country, existing-home sales grew 3.1 percent month-over-month to mark the strongest pace since August 2023. Lower mortgage interest rates (compared to last year) and a recent uptick in inventory, according to the National Association of REALTORS®, are fueling the market.
In San Francisco, year-over-year, New Listings were up 28.3 percent for Single-Family homes and 18.2 percent for Condo/TIC/Coop properties. Pending Sales increased 31.7 percent for Single-Family homes and 33.7 percent for Condo/TIC/Coop properties.
The Median Sales Price was up 9.7 percent to $1,580,000 for Single-Family homes but decreased 5.0 percent to $1,104,000 for Condo/TIC/Coop properties. For all residential property types together, the $1,362,500 Median Sales Price is up 8.8 percent. Months Supply of Inventory remained flat for Single-Family units but was up 12.9 percent for Condo/TIC/Coop units.
Although buyers may find additional options in their home search, inventory remains well below levels indicative of a balanced market. With demand far exceeding supply, expect home prices to continue rising and possibly reach a new record high above $1.6 million by summer.
District 1
Central Richmond, Inner Richmond, Jordan Park / Laurel Heights, Lake Street, Lone Mountain, Outer Richmond, Sea Cliff
District 2
Central Sunset, Golden Gate Heights, Inner Parkside, Inner Sunset, Outer Parkside, Outer Sunset, Parkside
District 3
Ingleside, Ingleside Heights, Lake Shore, Lakeside, Merced Heights, Merced Manor, Pine Lake Park, Stonestown
District 4
Balboa Terrace, Diamond Heights, Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace, Midtown Terrace, Miraloma Park, Monterey Heights, Mount Davidson Manor, Sherwood Forest, St. Francis Wood, Sunnyside, West Portal, Westwood Highlands, Westwood Park
District 5
Buena Vista / Ashbury Heights, Clarendon Heights, Cole Valley / Parnassus Heights, Corona Heights, Duboce Triangle, Eureka Valley / Dolores Heights, Glen Park, Haight Ashbury, Mission Dolores, Noe Valley, Twin Peaks
District 6
Alamo Square, Anza Vista, Hayes Valley, Lower Pacific Heights, North Panhandle, Western Addition
District 7
Cow Hollow, Marina District, Pacific Heights, Presidio Heights
District 8
Downtown, Financial District, Nob Hill, North Beach, North Waterfront, Russian Hill, Civic Center, Telegraph Hill, Tenderloin
District 9
Bernal Heights, Dogpatch, Inner Mission, Mission Bay, Potrero Hill, South Beach, South of Market, Yerba Buena
District 10
Bayview, Bayview Heights, Candlestick Point, Crocker Amazon, Excelsior, Hunters Point, Little Hollywood, Mission Terrance, Outer Mission, Portola, Silver Terrace, Visitacion Valley
