Real Estate Market Update for August 2025
What’s New in San Francisco Real Estate
Analytics and charts from Compass
The growing AI industry boom has shifted the San Francisco housing market into one of the strongest in the Bay Area, diverging from the cooling trends seen in most other counties and across the country. Unlike most other markets, the supply of listings is dropping, price reductions are declining, and home prices are starting to climb year-over-year. With mortgage rates dropping slightly, the city is poised for a busy fall market.
Home Sales Volume
San Francisco sales in July were down from June, but similar to July 2024, while year to date sales were up 5%. Most Bay Area counties saw declines in sales volume. San Francisco also saw the highest year over year appreciation rate in the Bay Area. House sales made up 46% of July sales and condos, co-ops, TICs and townhouses accounted for 54%.
New Listings
With the slower market in mid-summer, the number of new listings in July was down from June, and also lower compared to July 2024.
Active and Coming Soon Listings
Listings for sale as of the first day of August were down year over year. 27% of listings were houses and 63% were condos, co-ops, TICs, and townhouses.
Listings Accepting Offers
Listings going into contract in July declined from the peak in May of this year, representing a typical seasonal trend. July figures were basically the same as July 2024.
Average Days on Market
For houses the average days on market in July was 27, while for condos, it was 62 days.
Sales Over List Price
Overbidding continues to be more common for houses than condos. For houses, the average was 11% above list price, while condos were almost 3% below list price. The overall overbidding percentage was 48% of sales, but for houses it was 70%.
Price Reductions on Active Listings
Price reductions in July dropped from June and compared to July 2024. All other Bay Area counties saw year-over-year increases in price reductions.
House Price Trends
The median house sales price in July was up a little more than 5% compared to July 2024.
Condo Price Trends
The median house sales price in July increased by about 1.5% compared to July 2024. So far, 2025 is seeing the biggest surge in condo values since 2022.
Mortgage Rates
According to Freddie Mac, as of August 7, the 30-year fixed-rate mortgage dropped to its lowest level since April, at 6.63%.
The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information.
