Real Estate Market Update for April 2026
What’s New in San Francisco Real Estate
Analytics and charts from Compass
March activity offered clear indications of a particularly heated spring market. The median house and condo sales prices were both up significantly compared to the previous year. For homes, the median sales price was up 18% year-over-year, exceeding the previous peak from April 2022. With low inventory, particularly for houses, and soaring demand, the market is strong for well-prepared and priced properties. 85% of house sales sold over list price with an average sale price 23% over list price, tied with April 2022 for the highest overbid percentage ever. In this heated market, it’s more important than ever for buyers to be prepared to move quickly, and for sellers to prepare homes that are move-in ready.
Home Sales Volume
Value Trends
In March, the median price per square foot house value rose about 12% from the previous year; the median condo value rose about 10.5%.
Active and Coming Soon Listings
The number of listings for sale as of April 1, 2026 was 28% lower year over year.
New Listings on Market
The number of new listings in March increased from February, but was 4% lower than the previous year.
Listings Accepting Offers and Absorption Rate
The number of listings in March was lower year over year, the number of homes going into contract increased about 13.5%.
Average Days on Market
The average days on market in March was 29 days, the lowest since spring of 2022. For houses, the average days on market was 20, while for condos it was 34 days.
Average Sales to List Price
In March 2026, the average sales price was 13.5% above the original list price, the highest reading in 10 years. For houses alone the average was 23% and for condos, it was 7% over list price.
Overbidding List Prices
71% of sales saw overbidding in March 2026, the highest percentage since the spring of 2022, with 85% of house sales and 62% of condos seeing overbidding.
Price Reductions on Active Listings
The number of price reductions in March declined 39% year over year.
House Price Trends
The Q1 2026 median house sales price increased 22% year over year to its highest Q1 price ever, and just below its peak quarterly price in Q2 of 2022.
In March, the monthly median house sales price of $2,150,000 hit a new high, exceeding the previous peak media sales price of $2,050,000 in April of 2022.
Condo Price Trends
The Q1 2026 median condo sales price increased 18% year over year to its highest 1st quarter price ever.
In March, the monthly median condo sales price, $1,357,500, hit its second highest point ever. The peak median sales price was in April of 2022 at $1,375,000.
Mortgage Rates
As of April 2, Freddie Mac reported the weekly average, 30-year, conforming-loan interest rate rose to 6.46%, up from 5.98% before the start of the war in Iran. As of April 23, Freddie Mac reported the average 30-year fixed rate fell to 6.23%.
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.
