San Francisco, CA Housing Market
AI-powered market intelligence for the San Francisco-Oakland-Fremont, CA metro area.
PropertyIQ Scores
San Francisco, CA Market Analysis
Market Overview
San Francisco’s housing market is strong but cooling, reflected in a PropertyIQ Score of 70 out of 100. The score is supported by a 12-month home value momentum of 2.42% and a median days on market of 39, which indicates that homes are still moving at a moderate pace. However, the 3-month home value momentum is -0.32%, and 14.3% of listings have had a price cut, suggesting softer short-term demand. The median home value of $1,136,810 is far above the California state average of $773,735, positioning San Francisco as a premium, high-cost market.
The market compares favorably with state benchmarks in several fundamentals. The unemployment rate is 4.2%, below the state average of 5.2%, and median household income is $133,780, well above $96,334 statewide. The rent index of $3,372 is also substantially higher than the state average of $1,956. These strengths support demand, but the year-over-year home value change of -$4 points to an essentially flat price environment. Overall, the score of 70/100 reflects a moderate-to-strong market with solid income and rental support but limited price momentum.
Key Trends
One clear trend is mixed price momentum. The 12-month home value momentum of 2.42% indicates moderate annual appreciation, but the 3-month figure of -0.32% and a year-over-year home value change of -$4 show that prices have flattened or edged slightly backward in the shorter term. With 14.3% of listings showing a price cut, sellers appear to be adjusting to cooler conditions.
A second trend is strong rent and income fundamentals. The rent index of $3,372 is far above the state average of $1,956, and median household income of $133,780 exceeds the statewide figure of $96,334. These metrics point to sustained local purchasing power and rental demand. At the same time, the median home value of $1,136,810 remains high relative to income, keeping affordability a central challenge.
A third trend is a comparatively healthy labor market. The 4.2% unemployment rate is a full percentage point below California’s 5.2% average, which can support housing demand. Finally, with 5,593 homes for sale and a median of 39 days on market, the market appears moderately balanced. Buyers may have somewhat more room to negotiate than in a hot seller’s market, though demand remains steady enough to keep the median time on market at 39 days.
Who Is This Market For
This market is best suited to high-income professionals and move-up buyers who can manage a median home value above $1.1 million. Although median household income of $133,780 is well above the state average, the typical home price remains a major hurdle for many first-time buyers. Long-term buy-and-hold investors may be drawn to the rent index of $3,372, which is far above the state average of $1,956, but the -0.32% 3-month momentum and -$4 year-over-year change suggest limited short-term appreciation. Move-up buyers may benefit from a median of 39 days on market and a 14.3% share of listings with price cuts, providing more negotiating room. Short-term flippers and buyers seeking rapid price gains are less aligned with current conditions.
Outlook
San Francisco’s near-term outlook is one of cautious stability. The 12-month home value momentum of 2.42% shows underlying strength, but the -0.32% 3-month momentum and -$4 year-over-year change suggest flattening prices. The unemployment rate of 4.2% and median household income of $133,780 provide support for demand, while 5,593 homes for sale and a median of 39 days on market indicate a moderately balanced market. If the share of listings with price cuts rises above 14.3%, seller leverage could soften further. Population growth data is not available, so that part of the demand picture remains unclear. Based on the provided numbers, the market is likely to remain expensive and fundamentally supported but with limited momentum.
AI-generated analysis based on current market data. Last updated August 21, 2026.
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San Francisco, CA market data
San Francisco, CA Housing Market Overview
San Francisco, CA's median home value is $1.1M, up 2.4% over the past year. Homes here sell in a median 39 days. Its PropertyIQ Score of 70 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the San Francisco, CA area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across CA and every other US state.
Pacific Coast housing markets feature the nation's highest price points alongside strong wage growth from technology, entertainment, and trade sectors. Supply constraints from geographic barriers and regulatory environments create persistent affordability challenges but also strong long-term appreciation potential. Within the Pacific, San Francisco, CA's PropertyIQ Score of 70 ranks among the Pacific's stronger demand signals.
California's housing market is defined by extreme supply-demand imbalance, with CEQA regulations and geographic constraints limiting new construction. Despite affordability challenges, strong wage growth in tech and entertainment sectors sustains prices.
The PropertyIQ Score for the San Francisco, CA market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag. Momentum here has been positive, with home values up 2.4% over the past year.
Explore the interactive map to see how San Francisco, CA compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the San Francisco, CA metro area
ZIP codes in the San Francisco, CA metro area
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is San Francisco, CA a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. San Francisco, CA currently scores 70, a rising-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $1.1M, up 2.4% over the past year. So whether San Francisco, CA is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for San Francisco, CA?
San Francisco, CA's PropertyIQ Score is 70, indicating rising momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 70 places San Francisco, CA above its state benchmark.
Are home prices in San Francisco, CA rising or falling?
Home prices in San Francisco, CA are rising. Over the past year, the median home value increased 2.4%, reaching $1.1M. Over the latest three months, values slipped 0.3%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind San Francisco, CA's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in San Francisco, CA?
In San Francisco, CA, homes sell in a median of 39 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 14% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This San Francisco, CA market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.