San Francisco Real Estate December 2025 Report

Sales in one month mostly reflect accepted offers in the previous month.

Monthly Home Sales Volume* San Francisco Market Dynamics & Seasonality

The number of sales in November 2025 fell back from October and was essentially unchanged year over year. Sales are being constrained by the low inventory of listings for sale. House sales made up approximately 46.5% of November 2025 sales; condos made up 45%; co- ops, 1.5%; and TICs, 7%.

June 2021

800

Fall 2021

Spring 2022

700

Oct. 2025

600

Spring 2024

Pandemic boom

Oct. 2024

Spring 2025

500

Spring 2023

Oct. 2023

400

300

200

100

▲ Interest rates soar

Updated through November 2025

0

*Sales of houses, condos, townhouses reported to NorCal MLS Alliance, per Infosparks. Does not include new-project condo sales unreported to MLS. Data from sources deemed reliable but may contain errors and subject to revision. Last month estimated based on available information and may change with late reported sales. All numbers approximate.

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