Median sale prices continued to increase throughout San Francisco in the month of June.

Inventory continues to be a huge issue in San Francisco, as levels continue to dwindle.

Due to the inventory constraints in the area, listings are scooped up off the market at breakneck speed.

The condo market continues to be incredibly volatile, while the single-family home market has remained relatively stable.

• In June, we saw a sharp decline in the amount of inventory on the market, as fewer new listings were added.

• Despite the drastic drawdown in inventory, the average listing is still sitting on the market for longer than it was last year.

Condo median sale prices continue to trend lower than this time last year.

Inventory seems to have peaked for the year, as supply is slowly bought up.

Listings continue to spend much longer on the market when compared on a year-over-year basis.

• The single-family home market has remained incredibly resilient, while cracks have begun to form in the condo market.

• Silicon Valley inventory levels seem to have reached a local peak in May and have begun to decrease in June.

• Condos are spending approximately 2-3x longer on the market when compared to this time last year.

July 2025 Bay Area Real Estate Market Summary – Kinoko Real Estate

Nationally, housing affordability remains a major issue, with the median principal & interest (P&I) payment up 10.15% year-over-year, despite mortgage rates staying steady in the mid-6% range. Home inventories continue to grow, increasing buyer leverage, while global economic uncertainty adds to consumer caution. Although the Fed may cut interest rates later in the year, affordability concerns persist.

Locally, the Bay Area market is showing divergent trends. San Francisco leads in price growth, with single-family home prices up 4.42% and condo prices rising an impressive 10.52%. In contrast, other regions—particularly condo markets in the East Bay and Silicon Valley—are experiencing year-over-year declines. Inventory peaked in May and began declining in June, with significant drops in the North Bay and San Francisco. Despite fewer listings, homes are spending more time on the market, suggesting increased buyer selectivity.

Single-family homes remain in seller’s market territory across most regions, while condos have shifted firmly into buyer’s market conditions. San Francisco, for example, shows only 1.5 months of supply for single-family homes but 3.5 months for condos. Overall, while the broader market slows, opportunities are emerging—especially in the condo segment for buyers with long-term plans.