San Francisco Real Estate: A Tale of Two Markets in Q3 2025
by Richard Valdez
The San Francisco Real Estate Market in Q3 2025: Two Stories, One City
The San Francisco housing market in Q3 2025 is a tale of contrasts. Easing mortgage rates and renewed buyer confidence have fueled a strong fall season, but single-family homes and condominiums are moving to different rhythms — according to the latest Vanguard Properties San Francisco Market Update (October 2025).
Single-Family Homes: A Fierce Seller’s Market in San Francisco
The San Francisco single-family home market remains fiercely competitive, reflecting intense buyer demand and limited inventory.
Median Sales Price: Up 3.2% year-over-year to $1,625,000
Median Price per Square Foot: Slight dip to $988
Average Days on Market: Only 13 days
Above-Ask Sales: Nearly 72% of homes sold above list price
Average Sale-to-List Ratio: 113.2%
Inventory: Just 1.3 months of supply, confirming a tight seller’s market
These figures show that single-family homes in San Francisco continue to command attention, especially in established and high-end neighborhoods.
Condominiums: Balance and Momentum in the San Francisco Condo Market
While the single-family segment runs hot, the San Francisco condo market is experiencing balance and momentum.
Median Sales Price: Down 2.7% year-over-year to $1,089,800
Contract Activity: Up 26.3%
Closed Sales: Up 16.5%
Inventory: Down 20.7% compared to last year
Average Sale-to-List Ratio: 100.9%
Months’ Supply: 2.8, showing tightening conditions
The condo market is clearly regaining traction, driven by motivated buyers and constrained inventory — suggesting steady footing heading into Q4.
Neighborhood Highlights: Where San Francisco Real Estate Shines
Luxury Single-Family Markets
Marina / Cow Hollow: Median price of $4.9 million
Pacific Heights: Median price of $4.8 million
Competitive Neighborhoods
Bernal Heights and Glen Park: Homes selling at 117% of list price
Sunset District: Leading the city with homes selling at 125% of asking price
Top-Performing Condo Areas
Pacific Heights: Median condo price of $2.1 million
Cole Valley and Noe Valley: Consistent above-ask sales
Mission Bay and SOMA: Holding steady with solid demand
Looking Ahead: What’s Next for San Francisco Real Estate in Q4 2025?
Based on current Vanguard Properties market data, San Francisco’s real estate outlook remains positive heading into the end of the year.
Single-family homes: Likely to sustain strong competition and limited supply.
Condos: Expected to see increased buyer engagement and stable prices.
For sellers, this is a prime opportunity to leverage momentum. For buyers, particularly those exploring the condo market, now may be the moment to act before competition tightens further.
San Francisco continues to be a city of opportunity — where timing, insight, and expert representation make all the difference.
Final Thought
“San Francisco real estate has always been about timing, trust, and tenacity. Whether you’re buying your first condo or selling a Pacific Heights estate, the key is understanding the rhythm of this city — and moving in sync with it.”
— Richard Valdez, San Francisco Realtor®
Data Source
Market statistics and neighborhood insights referenced in this report are derived from the Vanguard Properties San Francisco Market Update (October 2025). Data reflects MLS activity and trends through Q3 2025.
