San Francisco Real Estate Market Report – December 2025 | Prices, Trends & 2026 Outlook
A comprehensive look at the San Francisco housing market in December 2025, including home prices, inventory, sales activity, and what buyers and sellers can expect heading into 2026.
❄️ A Calmer Year-End Market, Supported by Strong Fundamentals
December traditionally brings a seasonal slowdown to the San Francisco real estate market, and 2025 followed that pattern. However, beneath the quieter surface lies a market that remains healthy, stable, and structurally strong.
As the year closes, both buyers and sellers are approaching decisions more thoughtfully. Activity has slowed, but pricing remains elevated year-over-year, inventory is historically low, and demand—while less visible—continues to support the market.
🏠 Single-Family Homes: Fewer Sales, Pricing Remains Firm
The single-family home segment experienced a natural slowdown in December, without signs of underlying weakness.
📊 Key Metrics
- Median Sold Price: $1.69M
▪️ –4.8% month-over-month
▪️ +12.1% year-over-year - Homes Sold: 146 (–19.8% MoM)
- Average Days on Market: 29 (+16% MoM)
- Months of Inventory: 0.6 — extremely tight
- Sold-to-List Price: 107%
Despite fewer transactions, homes continue to sell above asking, a clear indicator that demand remains strong when properties are priced and positioned correctly.
The slight increase in days on market reflects more deliberate buyer behavior rather than a shift in market strength.
🏙️ Condos, Lofts & TICs: Seasonal Pause, Solid Annual Growth
The condo market also cooled in December, while still showing healthy year-over-year gains.
📈 Key Metrics
- Median Sold Price: $1.07M
▪️ –9.0% month-over-month
▪️ +6.4% year-over-year - Units Sold: 182 (–15.3% MoM)
- Average Days on Market: 69 (+27.8% MoM)
- Months of Inventory: 1.5, down significantly year-over-year
- Sold-to-List Price: 100%
Condos continue to offer a more balanced environment for buyers, while shrinking inventory suggests competition could return quickly in early 2026.
📍 Citywide Perspective: Stability Across San Francisco
Even during the slowest month of the year, San Francisco continues to outperform many major U.S. markets. Limited housing supply, strong employment sectors, and long-term demand continue to support prices citywide.
Family-friendly neighborhoods, central districts, and more affordable entry-level areas all remain active, reflecting broad-based interest across the city.
💡 What This Means for Buyers and Sellers
✔️ For Buyers
The end of the year can be a strategic window:
- Less competition
- Greater negotiating flexibility
- Motivated sellers
- Opportunity to prepare ahead of the spring market
This is an ideal time to focus on financing, due diligence, and identifying strong opportunities.
✔️ For Sellers
Despite the seasonal slowdown:
- Inventory remains extremely limited
- Prices are higher than last year
- Active buyers are serious and well-qualified
Preparing now allows sellers to enter the market confidently in early 2026.
🔮 Looking Ahead: Positioning for 2026
December 2025 confirms that San Francisco’s market is not weakening—it’s becoming more measured and intentional.
As activity ramps up in early 2026, buyers and sellers who plan ahead will be best positioned to take advantage of the next wave of opportunity.
📞 Let’s Talk About Your Real Estate Goals
Whether you’re considering buying, selling, or simply want an updated market perspective, I’m here to help with data-driven insights and personalized strategies.
Reach out anytime—preparation today leads to better results tomorrow.
