San Francisco Home Prices Continue Rapid Growth

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San Francisco Home Prices Continue Rapid Growth

San Francisco home prices

San Francisco home values rose nearly 15 percent in September from a year ago, posting a median sale price of $1.1 million. Across the greater Bay Area, prices rose 8.4 percent.

Fewer properties went on the market last month, with new listings falling 25 percent year over year. That helped push the number of sales down more than 25 percent from September 2014, the biggest drop in at least five years, leaving more properties on the market. The typical home sold in about two weeks.

San Francisco Home Prices

While San Francisco remains firmly a million-dollar market, there are signs that its rapid price growth might be starting to peak as houses take a little longer to find buyers. There was a 2.2-month supply of homes for sale last month, double the August level and the most since early 2012.

Still, sellers showed no sign of retreat, pushing asking prices up 5.5 percent from a year earlier.San Francisco housing market

Hot Neighborhoods

Forest Hill was the city’s priciest area, with more than half of houses selling for $1.96 million or more. Hayes Valley and Western Addition had the biggest jump in median sale prices, up 59 percent and 57 percent respectively.

Two other high-end communities, Marina and Pacific Heights, saw sales fall year over year as a shortage of properties thwarted buyers. The inventory of homes for sale in Inner Sunset, where a typical home sold in a day, dropped more than 61 percent.  

Neighborhood Median Sale Price Year-Over-Year Homes sold Year-Over-Year Inventory Year-Over-Year
Ashbury Heights $1,640,600 25.8% 9 -40.0% 8 33.3%
Bayview $714,300 14.8% 42 0.0% 17 -34.6%
Bernal Heights $1,198,200 18.6% 59 0.0% 27 0.0%
Civic Center / Van Ness $706,200 4.7% 30 0.0% 22 120.0%
Crocker-Amazon $868,100 25.7% 17 -19.0% 9 200.0%
Excelsior $869,700 20.1% 29 -6.5% 15 -16.7%
Financial District $1,703,300 40.7% 12 0.0% 9 28.6%
Forest Hill $1,961,400 16.3% 9 28.6% NA NA
Haight-Ashbury $1,506,800 27.9% 11 -21.4% 10 -16.7%
Hayes Valley $1,410,800 59.0% 8 100.0% 9 800.0%
Ingleside $895,500 27.5% 6 -57.1% 8 100.0%
Ingleside Heights $637,100 0.0% 17 -5.6% 6 -45.5%
Inner Richmond $1,433,100 -2.5% 17 -32.0% 10 -16.7%
Inner Sunset $1,264,000 -10.1% 25 177.8% 5 -61.5%
Lower Haight $1,236,100 13.1% 18 38.5% 7 -22.2%
Marina $1,479,600 -27.4% 35 -7.9% 14 -39.1%
Miraloma Park $1,310,600 28.4% 36 24.1% 11 -42.1%
Mission $1,111,700 28.2% 25 -32.4% 15 -28.6%
Mission Bay $1,053,300 24.8% 39 -7.1% 9 -40.0%
Nob Hill $1,613,900 57.1% 21 -25.0% 13 116.7%
Noe Valley $1,893,500 21.3% 56 1.8% 23 4.5%
Outer Mission $765,000 12.2% 9 -35.7% 4 -55.6%
Outer Richmond $1,234,100 25.6% 28 -3.4% 14 180.0%
Outer Sunset $1,025,300 23.8% 35 -22.2% 16 -11.1%
Pacific Heights $1,356,900 -28.4% 40 -16.7% 35 9.4%
Parkside $1,172,000 22.1% 27 -40.0% 9 -35.7%
Portola $879,600 9.1% 15 0.0% 8 -50.0%
Potrero Hill $1,254,500 24.2% 41 -25.5% 20 25.0%
Rincon Hill $997,000 4.7% 25 0.0% 20 -4.8%
Russian Hill $1,376,300 -19.7% 19 -24.0% 15 -6.3%
South of Market $996,400 14.2% 143 -21.0% 88 10.0%
Sunnyside $1,269,300 25.3% 15 0.0% 6 -45.5%
Sunset District $1,201,400 22.5% 129 -7.9% 43 -36.8%
Telegraph Hill $1,094,300 -17.4% 8 -42.9% 10 25.0%
Tenderloin $707,300 -3.6% 6 50.0% 6 100.0%
Twin Peaks $923,300 28.3% 9 50.0% 3 -50.0%
Visitacion Valley $748,800 10.0% 23 -17.9% 14 -22.2%
Western Addition $820,500 57.4% 11 37.5% 5 150.0%
San Francisco, CA $1,100,000 14.9% 325 -25.3% 702 1.2%

 

Neighborhood New Listings Median Days on Market Avg Sale-to-List
Ashbury Heights 15 16 117.2%
Bayview 42 19 113.3%
Bernal Heights 74 14 119.8%
Civic Center / Van Ness 49 15 111.2%
Crocker-Amazon 28 20 111.8%
Excelsior 41 15 116.1%
Financial District 21 6 106.8%
Forest Hill 4 22 117.4%
Haight-Ashbury 23 21 107.7%
Hayes Valley 24 13 112.2%
Ingleside 13 18 112.7%
Ingleside Heights 25 20 109.5%
Inner Richmond 17 14 113.3%
Inner Sunset 23 14 122.0%
Lower Haight 18 15 114.2%
Marina 35 14 109.4%
Miraloma Park 41 15 113.9%
Mission 47 15 117.2%
Mission Bay 39 15 105.4%
Nob Hill 32 12 106.9%
Noe Valley 70 14 116.4%
Outer Mission 19 21 108.1%
Outer Richmond 36 15 116.9%
Outer Sunset 50 14 124.8%
Pacific Heights 62 13 109.6%
Parkside 31 15 123.6%
Portola 20 14 116.1%
Potrero Hill 50 15 114.6%
Rincon Hill 43 17 103.3%
Russian Hill 26 14 111.5%
South of Market 208 15 103.9%
Sunnyside 14 19 115.2%
Sunset District 158 15 121.7%
Telegraph Hill 15 16 104.6%
Tenderloin 13 12 114.1%
Twin Peaks 9 14 109.0%
Visitacion Valley 29 24 108.4%
Western Addition 16 11 109.4%
San Francisco, CA 772 15 113.0%

NOTE: Not all neighborhoods are listed, but totals for San Francisco encompass entire city.  Data is based on listing information and might not reflect all real estate activity in the market. Neighborhood data is measured over the three months ended Sept. 30. Inventory measures listings active as of Sept. 30.

For more information, contact Redfin journalist services:

Phone: 206-588-6863

Email: press@redfin.com

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