By Stephanie Johnson
Published March 2026
February typically marks the early stages of the spring transition in San Francisco real estate. Activity begins to build, buyers re-engage after the holidays, and inventory patterns start to shift. However this year, the San Francisco market launched out of the holidays fast and furious and hasn’t stopped. Prices are up, inventory is tight and competition is fierce.
The data reveals a continued split between single family homes and condominiums — but with strengthening momentum in both segments compared to last year.
Below is a clean year-over-year comparison.
The Big Picture: Momentum Building Across Both Segments
February 2026 reflects a market gaining strength — particularly in the single-family segment, which remains extremely supply-constrained.
Single family homes experienced a substantial year-over-year price increase of over 20%, alongside a sharp decline in inventory. With just 0.8 months of supply, the market remains firmly tilted toward sellers. Faster days on market and a median 113.9% of list price received indicate continued competitive bidding environments.
Condominiums are also showing meaningful improvement. While still offering more flexibility than single-family homes, condo supply contracted significantly year-over-year. Pricing strengthened, timelines shortened, and list-to-sale ratios improved — all signs of renewed buyer confidence in the segment.
San Francisco Median Price Trends
Inventory: Still the Primary Driver
Inventory continues to dictate market behavior.
Single Family Homes
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0.8 months of supply signals extreme scarcity
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New listings declined year-over-year
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Buyer competition remains intense
Condominiums
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2.0 months of supply offers relatively more balance
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Inventory has tightened dramatically from 3.7 months last year
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Supply contraction is supporting price growth
February typically sees inventory begin to build, but this year supply remains constrained — especially in the single family segment.
San Francisco Months of Supply Trends
Days on Market: Acceleration Into Spring
Selling timelines shortened across both property types.
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Single family homes averaged just 23 days on market, a notably fast pace for February.
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Condominiums averaged 41 days, a major improvement from last year’s 57-day average.
Shorter cumulative days on market in both segments indicate stronger absorption and fewer stale listings compared to 2025.
San Francisco Average Days on Market Trends
How February Compares to Seasonal Norms
Historically, February marks the beginning of spring acceleration:
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Buyer activity increases
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Inventory slowly expands
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Competition strengthens
What stands out in 2026 is how tight supply already is — particularly for single family homes. Instead of transitioning from balanced to competitive, the single family segment is entering spring already highly competitive.
Condominiums, while healthier than last year, still provide more negotiating room relative to single family homes.
Seller Takeaways
Single Family Home Sellers
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Demand is strong and competition is active
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Inventory remains extremely limited
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Strategic pricing can drive multiple-offer outcomes
Condominium Sellers
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Market conditions have improved meaningfully
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Days on market are shortening
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Proper preparation and pricing remain essential
Buyer Takeaways
Single Family Home Buyers
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Expect competition
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Speed and clean terms matter
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Scarcity continues to define the segment
Condominium Buyers
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Conditions are improving but still offer relative flexibility
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Negotiation opportunities are narrowing compared to last year
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Selection remains stronger than in the detached segment
Looking Ahead
San Francisco enters spring 2026 with strengthening prices, declining inventory, and accelerating market pace — especially in single family homes. If listing activity does not increase meaningfully in March and April, competitive pressure could intensify further.
Inventory will remain the defining variable as we move deeper into the spring market.
If you'd like to discuss how these trends apply to your specific real estate goals, book a call with me. I'm always here to help.