Maggie Visser 5/18/25 Maggie Visser 5/18/25

Maggie's Market Minute: SF Houses Stay Hot as Bay Area Markets Cool

SF Houses Stay Hot as Bay Area Markets Cool

In April, as much of the Bay Area struggled with rising uncertainty—both in the housing market and on the broader political and economic fronts—San Francisco stood out for its relative stability. The single-family home market, in particular, continued to attract strong buyer interest, while the condo sector remained soft, with weaker demand and declining prices.

A Market of Contrasts

Across the city, the market has become increasingly uneven. Some homes are flying off the market with multiple offers well over asking, while others—despite appearing similar in price, condition, and location—are receiving little to no attention.

Luxury Segment Defies the Uncertainty

Amid the broader turbulence, the luxury segment continues to outperform. Sales of homes priced at $5M+ rose 24% year over year, reflecting sustained demand and strong buyer confidence at the high end of the market.

The Scoop

Inventory and Sales Activity (April 2024 vs. April 2025)

Inventory: Up 9% year over year — a modest increase compared to other Bay Area counties where inventory has spiked (some up 70% year over year)
Listings under contract: Saw a slight uptick
Closed sales: Declined slightly
Price reductions: Held steady, unlike the sharp increases seen elsewhere in the Bay Area

Home Prices (April 2024 vs. April 2025)

Median house prices: Flat
Median condo prices: Declined

Despite Economic Concerns, Buyer Demand is Strong for:

Move-in-ready homes
Well-priced properties
Prime locations

Featured Transactions

871-873 Alvarado St

Noe Valley

4 BD 3 BA 2,055 SQFT $2,450,000

Buyer Represented

11 Divisadero St

Buena Vista

2 BD 1 BA 1,109 SQFT $1,340,625

Sold

1033 Jones St

Downtown

3 BD 2 BA 1,875 SQFT

Pending

241-243 Missouri St

Potero Hill

6 BD 4 BA 2,604 SQFT $2,156,000

Buyer Represented

231 Clinton Park

Mission Dolores

2 BD 1 BA 1,290 SQFT $1,225,000

Sold

2405 23rd St

Inner Mission

2 BD 2 BA 1,365 SQFT

Pending

Are you, or someone you know, ready to move?

Let me know - I can help!

Cheers, Maggie

MAGGIE VISSER

Top 1.5% of Agents Nationwide

Top 3% of SF Agents (MLS)

DRE 01925742

415.793.3470

maggie@maggievisser.com

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

Maggie Visser 3/24/25 Maggie Visser 3/24/25

Maggie's Market Minute: SF's Shifting Dynamics at the Start of the Spring Selling Season

Shifting Supply Dynamics

Almost every real estate market in the Bay Area has seen significant increases in active and coming-soon listings since the start of the year — a notable shift in supply dynamics. However, San Francisco remains an outlier, with inventory levels staying relatively flat.

A Market of Contrasts

The current real estate market in SF is a mixed bag: fierce competition for single-family homes, while the market for multi-families and condos/co-ops are soft. Single-family homes make up only 26.5% of listings but represent 48% of sold units, highlighting their high demand. In contrast, condos and co-ops account for 73% of listings but only 44% of sales.

Single-Family Homes: Competitive and Climbing

Some neighborhoods are experiencing wild overbidding due to very low single-family home supply. In fact, it’s not unusual to find 8-10 competing bids, and a couple of homes have sold for $1M above the asking price and all cash offers. If you’re a single-family home buyer eyeing top neighborhood, the appreciation potential is undeniable. Even in a market where interest rates remain north of 6.5% and the stock market is in the red year-to-date, we’re seeing bidding wars and remarkable price jumps. Imagine what's to come in more favorable economic conditions and mortage rates.

Condos: A Buyer’s Market

On the flip side, condo buyers have a unique advantage right now. With less competition, there are opportunities to purchase below market value while enjoying the luxury of being more discerning. The median sale price for condos across San Francisco County dipped to $1,010,000 — the lowest point since September 2015 and a full 23% below the high of $1,300,000 reached in June 2022. That said, luxury condo and co-op sales experienced a significant jump in the first two months of 2025 (up 60% year-over-year), signaling renewed interest in high-end urban living.

What Does This Mean for You?

This unique market presents different opportunities depending on your goals. For buyers, condos present a chance to purchase below market value. Sellers, particularly those with single-family homes, can capitalize on intense demand and limited supply.

According to Robert Reffkin, CEO of Compass, San Francisco is “the most underrated market in America” and primed for the biggest rebound in the next five years. If you're looking to invest—or simply make a smart move before the market shifts—now is the time to explore your options.

Click Here for a Detailed Market Report

Recent Sales, Listing and Upcoming Listing in 2025