Market Intelligence Report — CA-860

San Francisco, CA

Monthly housing intelligence, market trends, and trusted local expertise.

Ref. No: 2026-CA-05
Updated: May 2026
Stabilizing
Median Listing
$998K
-0.1% YOY
Pending Ratio
0.49
+8.9% YOY
Active Inventory
5,911
-16.5% YOY
Median DOM
32 Days
-8.6% YOY

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The San Francisco-Oakland-Fremont market displayed stabilizing conditions in May. The pending ratio of 0.49 indicates a balanced absorption of available inventory, with a modest year-over-year increase of 8.9% in this metric.

Inventory levels contracted significantly, with active listings down 16.5% year-over-year. New listings also decreased by 8.1% over the same period, contributing to the reduced supply. Median days on market fell by 8.6% year-over-year, suggesting a quicker pace of transactions compared to the previous year.

Recovery driven by AI hiring; condos lagging single-family rebound.

Market Signals & Indicators

Negotiating Leverage

The current market dynamics suggest a more balanced environment, with contracting inventory and a stable pending ratio. While demand is consistently absorbing supply, the overall pace does not strongly favor either rapid price escalation or deep concessions. Discipline in pricing and negotiation is indicated for both sides of a transaction.

Luxury Segment

The average listing price in the San Francisco-Oakland-Fremont market declined by 6.0% year-over-year, outpacing the 0.1% decrease in the median listing price and the 3.5% decline in median $/sqft. This suggests some softness in the higher-priced segments of the market.

Supply Dynamics

5,911 active listings represent the current floor, with new supply arriving at roughly 3,948 per month.

Pricing Pressure
12.5%

of active listings carry a price reduction, -2.9% from prior period.

$/Sq Ft
$1K

Median price per square foot has moved -3.5% year-over-year.

Absorption
0.49

Pending-to-active ratio — Stabilizing.

Metro Demographics

MSA Population
4.7M
Metro Area
San Francisco–Oakland–Berkeley
CBSA Code
41860
State
CA

ZIPs in San Francisco, CA

Sorted by active inventory · click a ZIP for its full report

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