San Francisco's single-family housing market is continuing to break away from the post-pandemic correction and has entered a period of strong price appreciation. The median single-family home price reached new highs of $2,128,000 in June 2026, an increase of 24.8% from $1,705,500 in June 2025. Prices are also 15.0% above the June 2022 median of $1,850,000. June's median price came in 3.3% lower than May's median of $2,200,000, in line with seasonal summer cooling trends.
There were 232 single-family home sales in June, up 4.0% from 223 sales in June 2025. While activity remains below the 250 sales recorded in June 2022, it is stronger than the transaction levels seen in 2023 and 2024, suggesting that demand has remained resilient despite elevated home prices.
One of the clearest explanations for this appreciation is the severe shortage of available inventory and inflow of money from the AI boom. At the end of June, there were just 590 active listings (single-family homes and condos combined), while 546 properties were under contract. This equates to an absorption rate of approximately 92%, meaning nearly as many homes were pending sale as were actively available. Put another way, the market had just over one month of inventory, which is exceptionally tight supply for this time of year. This is the highest absorption rate and lowest level of inventory that we have observed during the summer market since 2020, underscoring the intensity of buyer competition.
Homes also continue to sell quickly. Single-family homes averaged 21 days on market in June, while condos averaged 37 days. Condo Days on Market improved from 41 days in May and have fallen dramatically from 60 days in June 2025, a 38.3% reduction in time on market. Single-family homes spent slightly longer on the market than in May (21 days versus 18 days), but they continue to sell much faster than last June, when the average was 27 days.
Pricing strength is also evident on a price-per-square-foot basis. The median price per square foot reached $1,230 in June, up 22.3% from $1,006 one year ago. Prices have increased 28% since January, when the median price per square foot was $961. The median size of homes selling has also increased. This suggests that a greater share of larger homes is trading hands, supporting what many agents are reporting in the field: Demand for larger, high-end homes continues to outpace available supply, contributing to what could be described as a "mansion shortage."
