November 2026 Housing Market Report |
| Overall Market Sentiment
San Francisco’s single-family market was exceptionally tight in October. Active listings fell 20% from a year ago to 222, leaving 0.9 months of supply, and homes sold in 14 days on average, the fastest of any month since at least 2020. 86% of homes sold above list, up 9%, the highest October level since at least 2020. The median rose 29% to $2,390,000, the highest of any month since at least 2020. Condos were also strong, with overbidding at 68%, though condo price cuts rose from a low base.
Sales: 253 single-family homes closed in October, down 7% YoY and up 30% from September. Condo closings fell 7% YoY to 292. Prices: The single-family median rose 29% YoY to $2,390,000. The condo median rose 12% YoY to $1,344,500, the highest October median since at least 2020. Competition: 86% of single-family sales closed above list, up 9% YoY. Condo overbidding was 68%, up 25%; both are the highest October levels since at least 2020. Inventory: Active single-family listings fell 20% YoY to 222, while new listings rose 5% to 287 YoY. Condo active listings fell 24% to 545. Both end of month active counts are the lowest October levels since at least 2020. Single family: Days on market fell to 14 days from 22 a year ago, while months of supply was 0.9, the lowest October level since at least 2020. Price reductions rose to 23 from 19, with the reduction rate at 7%. Condos: Condo supply fell to 1.9 months from 2.3 and condo days on market fell 16% to 36. Price cuts rose from a low base: 18% of condo listings took one, up 13%, the highest October level since at least 2020. MoM: Single-family closings rose 30% from September and the median rose 16%, while months of supply fell to 0.9 from 1.2. Overbidding eased 5% to 86%. Condo price reductions rose 65%. Bottom line: A very tight, highly competitive market for both property types; rising condo price cuts are the one sign of possible drag from the new condo lending regulations on buildings with 10+ units. Data quality: A 16% one-month rise in the single-family median may reflect the mix of homes sold, so the gain should be interpreted cautiously. It doesn’t mean every home appreciated 16% from September to October.
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 01527235, 01527365. 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. |
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