Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
Yes, if you negotiate. Buyers have the upper hand in San Francisco right now.
You have the upper hand in San Francisco. Most homes for sale still have no buyer. Sellers are competing for you. Use it.
Only 68 out of every 100 homes for sale have found a buyer. The other 32 are still waiting. Your offer may be the only one on the table. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.
A typical San Francisco home takes 61 days to find a buyer. Half of them take even longer. That is 13% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago. There are 653 homes for sale in San Francisco. That is 1.9 times the tightest month on record, but below the peak of 1,834. Supply is shrinking against last year.
Asking prices are 31.8% below their Jan 2020 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. San Francisco prices rose in just 48 of 108 months. Prices here mostly do not grow. Buy this market for rent income, not for appreciation.
There is no rush. Prices are still coming down. Watch the homes you like. Come back after they cut. Let the seller move first.
Yes, if you negotiate. Buyers have the upper hand in San Francisco right now. 0.68 out of every 100 homes for sale have a buyer, 6% of sellers have cut their price, and a typical home takes 61 days to sell.
Asking prices are 31.8% below their Jan 2020 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.
-2.1%/yr. 1 year: +1.7% · 5 years: -2.1% · ten years: 0.0%. Do not use the ten-year rate. Most of that growth landed in the 2020 and 2021 boom. The five-year rate is what San Francisco does without one. Underwrite closer to -2.1%. Measure growth per square foot. San Francisco median list price fell 1.0% a year, but price per square foot was flat. Per-foot prices held up better than the median. The gap is smaller homes, not a steeper decline. The one-year rate is a timing signal. It is not an underwriting input.
A typical San Francisco home takes 61 days to find a buyer. Half of them take even longer. That is 13% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago.
94133. Only 52 out of 100 homes there have a buyer, 11% have cut their price, and a typical home takes 91 days to sell.
Where it isn't: 94132 ranks #3,019 in the country for buyer demand. Expect the least room to negotiate there.
ZIP 94133 is on both lists. That is rare. It is the one place in San Francisco where leverage and growth overlap.
| ZIP | $/sqft, 2 yrs | $/sqft now | Buyers per home | For sale |
|---|---|---|---|---|
| 94127 | +7.8% | $1,007 | 1.57 | 12 |
| 94116 | +6.7% | $967 | 1.21 | 15 |
| 94133 | +5.6% | $1,239 | 0.53 | 20 |
| 94134 | +3.5% | $664 | 0.66 | 25 |
| 94117 | +2.9% | $998 | 1.32 | 11 |
Computed from each ZIP's own ten-year history. ZIPs with fewer than 10 homes for sale are excluded: a median across a handful of listings is noise, not a signal.
Closest matches on asking price, price per square foot, days to sell, buyer demand, and price cuts.
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