Price growth tapped the brakes in San Francisco last month, but the million-dollar housing market continues to challenge buyers. Median sale prices rose 12.4 percent in June from a year ago, to $1.18 million. That’s almost half the pace of recent increases, but still rapid appreciation. Across the greater San Francisco region, values rose even faster, up 16.3 percent, to a $1.07 million median sale price.
Tight supply isn’t helping Bay Area buyers, either. In the city, inventory is down 14.4 percent from last year and there’s only a month’s supply of homes for sale. Six months of inventory signals a balanced market. On average, residential properties sold for nearly 114 percent of asking price in June; many are moving in less than two weeks.
“Even though the San Francisco housing market is nearing the peak of the summer selling season, prices decreased 4 percent compared to last month,” said Redfin chief economist Nela Richardson. “It suggests there’s a limit to what buyers are willing to pay, even in tech-rich San Francisco.”
Over the past three months, prices rose more than 19 percent in Pacific Heights, which is flirting with a $2 million median sale price ($1.995 million to be precise). Noe Valley isn’t far behind, at $1.75 million, up more than 10 percent from last spring. Despite rapid price growth, or perhaps because of it, many homes are getting snapped up in less than two weeks. In the especially pricey neighborhoods of Russian Hill, the Financial District and Nob Hill, more than half of buyers paid cash.
“The market is kind of leveling off, which is typical for this time of year,” said Redfin real estate agent Stuart Gavan. “As for the future outlook, I still think there’s room for additional appreciation. There’s such high demand and limited supply in the city.”
See our city page for the most up-to-date data on San Francisco home prices.
Here’s what’s happening in your neighborhood:
| Neighborhood | Median Sale Price | Year-Over-Year | Homes sold | Year-Over-Year | Inventory | Year-Over-Year |
|---|---|---|---|---|---|---|
| Ashbury Heights | $1,400,000 | 4.1% | 29 | -9.4% | 16 | -11.1% |
| Bayview | $705,000 | 32.9% | 64 | 1.6% | 62 | -8.8% |
| Bernal Heights | $1,233,000 | 17.4% | 90 | 13.9% | 60 | -10.4% |
| Civic Center / Van Ness | $899,000 | 30.3% | 38 | -24.0% | 32 | -25.6% |
| Crocker-Amazon | $802,500 | 15.5% | 14 | -53.3% | 14 | -50.0% |
| Excelsior | $750,000 | 17.6% | 46 | 4.5% | 46 | -4.2% |
| Financial District | $1,600,000 | 47.5% | 14 | -22.2% | 13 | -43.5% |
| Forest Hill | $1,450,000 | -16.4% | 14 | -12.5% | 14 | 0.0% |
| Haight-Ashbury | $1,160,000 | -6.1% | 44 | 22.2% | 27 | 17.4% |
| Hayes Valley | $1,100,000 | -12.9% | 11 | -8.3% | 15 | 150.0% |
| Ingleside | $760,000 | 12.6% | 10 | -37.5% | 10 | -44.4% |
| Ingleside Heights | $692,500 | 16.2% | 28 | 12.0% | 17 | 0.0% |
| Inner Richmond | $1,587,500 | 22.1% | 28 | 0.0% | 21 | -8.7% |
| Inner Sunset | $1,300,000 | 8.3% | 33 | 3.1% | 25 | 19.0% |
| Lower Haight | $1,127,500 | 2.6% | 34 | 9.7% | 21 | -4.5% |
| Marina | $1,649,000 | 6.4% | 68 | -6.8% | 49 | 2.1% |
| Miraloma Park | $1,255,228 | 14.1% | 67 | 17.5% | 38 | 18.8% |
| Mission | $950,000 | -1.8% | 122 | 96.8% | 76 | 49.0% |
| Mission Bay | $1,170,000 | 37.6% | 69 | -8.0% | 37 | -42.2% |
| Nob Hill | $1,511,000 | 18.5% | 42 | -22.2% | 33 | -25.0% |
| Noe Valley | $1,750,000 | 10.2% | 93 | -9.7% | 66 | -5.7% |
| Outer Mission | $830,000 | 16.5% | 21 | 0.0% | 13 | 0.0% |
| Outer Richmond | $1,190,000 | 20.2% | 30 | -14.3% | 23 | -39.5% |
| Outer Sunset | $975,000 | 19.6% | 62 | -7.5% | 47 | 23.7% |
| Pacific Heights | $1,993,750 | 19.4% | 90 | -7.2% | 63 | -22.2% |
| Parkside | $1,100,000 | 11.7% | 36 | -2.7% | 29 | -9.4% |
| Portola | $779,000 | 12.1% | 21 | -8.7% | 23 | 0.0% |
| Potrero Hill | $1,200,000 | 19.7% | 72 | -23.4% | 46 | -36.1% |
| Rincon Hill | $1,144,500 | 27.2% | 44 | -38.0% | 35 | -23.9% |
| Russian Hill | $1,512,500 | 12.0% | 45 | -18.2% | 38 | -24.0% |
| South of Market | $1,080,000 | 19.9% | 293 | -13.1% | 212 | -11.7% |
| Sunnyside | $1,135,500 | 17.5% | 37 | 27.6% | 26 | 62.5% |
| Sunset District | $1,127,512 | 15.9% | 222 | -5.1% | 161 | 1.3% |
| Telegraph Hill | $1,512,500 | 31.5% | 20 | -20.0% | 15 | -34.8% |
| Tenderloin | $780,000 | -7.1% | 16 | 6.7% | 9 | 80.0% |
| Twin Peaks | $1,030,000 | 14.4% | 16 | -27.3% | 13 | -43.5% |
| Visitacion Valley | $685,000 | 8.2% | 42 | 27.3% | 42 | 10.5% |
| Western Addition | $802,500 | 16.3% | 20 | -16.7% | 12 | -29.4% |
| San Francisco, CA | $1,180,000 | 12.4% | 472 | 3.1% | 482 | -14.4% |
| Neighborhood | New Listings | Median Days on Market | Avg Sale-to-List | Months of Supply |
|---|---|---|---|---|
| Ashbury Heights | 37 | 13 | 118.6% | 0.1 |
| Bayview | 91 | 17 | 108.3% | 0.3 |
| Bernal Heights | 115 | 12 | 120.5% | 0.1 |
| Civic Center / Van Ness | 59 | 13 | 111.0% | 0.1 |
| Crocker-Amazon | 23 | 13 | 114.6% | 0.1 |
| Excelsior | 66 | 15 | 113.3% | 0.3 |
| Financial District | 18 | 12 | 99.0% | 0.5 |
| Forest Hill | 20 | 14 | 121.2% | 0.1 |
| Haight-Ashbury | 52 | 13 | 114.2% | NA |
| Hayes Valley | 26 | 12 | 116.1% | 0.4 |
| Ingleside | 13 | 14 | 112.5% | 0.2 |
| Ingleside Heights | 30 | 14 | 112.5% | 0.1 |
| Inner Richmond | 42 | 14 | 117.1% | 0.1 |
| Inner Sunset | 38 | 15 | 111.6% | 0.1 |
| Lower Haight | 38 | 14 | 109.5% | 0.1 |
| Marina | 98 | 12 | 110.9% | 0.1 |
| Miraloma Park | 85 | 13 | 116.9% | 0.0 |
| Mission | 127 | 15 | 107.0% | 0.2 |
| Mission Bay | 93 | 7 | 105.2% | 0.1 |
| Nob Hill | 49 | 14 | 105.5% | 0.3 |
| Noe Valley | 122 | 13 | 116.8% | 0.1 |
| Outer Mission | 21 | 15 | 112.1% | 0.1 |
| Outer Richmond | 47 | 13 | 115.5% | 0.2 |
| Outer Sunset | 77 | 13 | 119.6% | 0.1 |
| Pacific Heights | 121 | 12 | 110.5% | 0.1 |
| Parkside | 48 | 15 | 118.6% | 0.1 |
| Portola | 31 | 16 | 114.0% | 0.1 |
| Potrero Hill | 96 | 13 | 112.1% | 0.1 |
| Rincon Hill | 56 | 13 | 103.4% | 0.2 |
| Russian Hill | 59 | 14 | 107.6% | 0.2 |
| South of Market | 383 | 12 | 105.5% | 0.1 |
| Sunnyside | 48 | 13 | 119.6% | 0.1 |
| Sunset District | 270 | 14 | 118.4% | 0.1 |
| Telegraph Hill | 22 | 20 | 102.3% | 0.3 |
| Tenderloin | 19 | 10 | 106.1% | 0.1 |
| Twin Peaks | 23 | 14 | 106.1% | 0.1 |
| Visitacion Valley | 49 | 34 | 106.2% | 0.3 |
| Western Addition | 27 | 11 | 112.4% | 0.1 |
| San Francisco, CA | 570 | 13 | 113.7% | 1.0 |
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 June 30. Inventory measures listings active as of June 30.
For more information, contact Redfin journalist services
Phone: 206-588-6863
Email: press@redfin.com
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