San Francisco 2-4 Unit Apartment Building Market Q3 2025

San Francisco Residential Income Market Market Dynamics: Buildings by Number of Units*

Market indicators can change dramatically from period to period, due to both economic conditions and seasonal trends. After slowing in summer, market activity typically accelerates in early autumn.

Multi-Family Buildings with Up to 8 Units

# Listings for Sale*

# Listings in Contract*

12 Months Sales*

Median Sales Price

Median $/Sq.Ft.**

Median Size (Sq.Ft.)

Avg. Days on Market**

Sales Over List Price

Prop. Type

2-Unit Buildings 3-Unit Buildings 4-Unit Buildings 5-8 Unit Buildings

68

24

262 sales $1,645,000 $646/ sq.ft. 107 sales $1,850,000 $516/ sq.ft.

2629 sq.ft.

38 days

48%

45

12

3727 sq.ft.

50 days

32%

32

4

63 sales

$1,600,000 $473/ sq.ft.

3517 sq.ft.

54 days

19%

29

23

106 sales $2,080,000 $385/ sq.ft.

5124 sq.ft.

54 days

19%

*Listings for Sale (Active/Coming-Soon) & Listings in Contract (pending sale) posted to MLS as of late September 2025. Other statistics per 12 months sales reported by late September 2025. **Median calculations will vary from average calculations, though both are legitimate methods of measurement. Not all sales report square footage figures.

Statistics often rise and fall according to seasonal trends. Average-days-on-market measures the time from going on market until offer acceptance for those properties that sold.

Data reported to NorCal MLS Alliance, may contain errors and subject to revision. Not all activity is reported to MLS. Multiple unit buildings classified as houses or condos excluded. All numbers approximate. Statistics based on past activity may not apply to future trends and can be distorted by outlier data (especially in low sales volume segments). Outlier data removed when identified. Numbers change constantly.

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