Real Estate Market Update for November 2025
What’s New in San Francisco Real Estate
Analytics and charts from Compass
The real estate market in San Francisco continues to accelerate. October’s sales hit the highest count since May 2022. The number of price reductions plummeted 46% on a year-over-year basis, while the pending ratio hit its highest monthly reading since the peak of the pandemic boom. 80% of house sales and 44% of condo sales sold for over list price.
The market typically slows from mid-November to mid-January, but indications are strong that it will be a busy market in 2026.
Home Sales Volume
The number of sales in October 2025 increased 28% to hit its highest monthly total since the spring of 2022. House sales made up around 47% of October sales.
New Listings
New listings decreased in October and were down 17% compared to October 2024.
Active and Coming Soon Listings
Listings for sale as of November 1 were down 30% from the previous year. 29% of the listings were houses, 58% condos, 8% TICs, and 4% co-ops.
Listings Accepting Offers
The number of listings going into contract in September and October hit the highest monthly counts since 2022.
Pending Ratio
The pending ratio in October 2025 increased from September to hit its highest monthly reading since the peak of the pandemic book in the spring of 2022.
Average Days on Market
The average days on market for all residential sales in October was 35. For houses alone, the average was 24 days, and for condos the average was 48 days.
Sales Over List Price
The average sales price to original list price for all residential sales was 8%, the highest since mid-2022. For houses alone in October, the average was 14% above list price and for condos it was 2% over list price.
Overbidding List Prices
Overall, 61% of sales saw overbidding; for houses alone it was 80%, while for condos it was 44%.
Price Reductions on Active Listings
Priced reductions in October 2025 declined 46% from October 2024, representing the lowest October count in at least eight years.
Listings Taken Off Market
House Price Trends
Median house sales price in October increased from September, and was up 4.5% year-over-year.
Condo Price Trends
The median condo sales price in October declined by about 3% year-over-year.
Mortgage Rates
As of November 6, 2025, the weekly, average 30-year conforming loan interest rate rose slightly to 6.22%.
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.
