San Francisco Real Estate in July 2025: A Tale of Two Markets

July’s housing data offers a sharp snapshot of San Francisco’s evolving real estate landscape. When you zoom in, July 2025 looks very different from July 2024. But step back, and the year-to-date trends reveal a more measured story, particularly for both single-family homes and condos.

Key Takeaways

• Single-family homes remain in high demand, especially with inventory tightening in July. Year to date, homes are selling faster, at slightly higher prices.

• Condos saw a price dip in July, but the year-to-date trend is up, with more buyer activity and moderate price growth.

• For both market segments, sellers are still in a favorable position, especially with thoughtfully prepared listings.

• Buyers, especially in the condo space, may find more negotiating room and less competition than they would in the single-family market.

Note: You can find the charts/graphs for the Local Lowdown at the end of this section.

A Closer Look at Prices, Pace, and What’s Moving

Home Prices: Steady, Not Surging

San Francisco home values are holding their ground and in some cases, quietly inching upward. Despite the headlines and national chatter, we’re not seeing wild swings in pricing.

For single-family homes, the median sale price rose 2.3% compared to last July. That’s not dramatic, but it’s meaningful, especially in a city where affordability and competition always factor in.

Condos, on the other hand, saw a noticeable dip in July’s median price. Down 11.9% year-over-year. But zoom out to the full year, and things look a lot calmer. Year to date, condo prices are actually up 2.2%. We can chalk July’s dip up to sample size volatility or a wave of lower-priced units closing that month, it doesn’t spell a long-term trend just yet.

Inventory: Still Tight, Still Driving the Market

If you’ve been following San Francisco real estate for even a minute, or have been keeping abreast of our monthly market updates, this next part won’t surprise you: inventory remains tight. Very tight.

• Single-family homes: Inventory is down nearly 16% from last July

• Condos: Inventory is down almost 20%

• New listings: Fewer homes `are hitting the market, down 18.5% for single-family homes, and down 5.1% for condos

While other parts of the Bay Area are seeing listings pile up, San Francisco’s challenge is the opposite. We simply don’t have enough homes to meet demand. And as long as that remains true, sellers hold the upper hand, particularly in the single-family space.

What’s Moving (and What’s Sitting)

Not all homes are moving at the same pace. Here’s where things diverge.

• Single-family homes are still flying off the market. Averaging just 14 days before going into contract.

• Condos? Not so much. In July, the average condo took 44 days to sell, a 13% increase from last year.

This split isn’t new, but it’s becoming more pronounced. Buyers are chasing move-in-ready single-family homes, often overbidding to win them. Condos, meanwhile, are moving slower, with buyers taking more time to evaluate options and negotiate.

A More Balanced Market for Condos

If you're wondering whether it’s a buyer’s or seller’s market, the answer depends on what you're buying and of course where.

• Condos now have 3.1 months of supply, that’s just above the “balanced” threshold (which sits around three months).

• Single-family homes are firmly in seller’s market territory, with just 1.2 months of supply.

The bottom line? Condos are approaching equilibrium, and buyers may have a bit more leverage. Single-family homes, on the other hand, remain highly competitive.

Local Lowdown Data

More to Explore: Dive Deeper into Our Content

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Curious about areas we love and serve? These neighborhood guides bring on-the-ground flavor and expert perspective:

• Living in Bernal Heights: What Homebuyers Need to Know in 2025 – A vibrant, family‑friendly neighborhood that blends small‑town comfort with San Francisco convenience.

• A Neighborhood Guide to Picturesque Silver Terrace – Feel the charm of sunny views and value that stretch your dollar farther, complete with a standout remodeled Victorian.

Thoughtful Reads from Our Blog
Need a little real estate wisdom, inspiration, or next-step guidance? These posts are full of insight and practical tips:

• How to Read (San Francisco) Real Estate Disclosures Like a Pro – Everything you need to know about navigating those dense disclosure packets with clarity and confidence.

• Multifamily Homes 101: Strategy & Guide for SF Buyers and Investors – Exploring duplexes and triplexes? Discover how they offer affordability, income, and flexibility in today’s market.

• Demystifying San Francisco’s Down Payment Assistance Programs – A comprehensive breakdown of DALP, DreamKeeper, and Teacher Next Door—plus tips for buyers and peace of mind for sellers.

Case Studies You’ll Want to Read
Real stories, real transformations—how do you sell a fixer-upper in Bernal Heights? Or list from abroad? We’ve got those covered in our San Francisco real estate case studies.

Securing and Transforming a Fixer-Upper in Bernal Heights

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