San Francisco’s spring market showed real strength in April. Inventory tightened, buyers moved faster, and sellers saw stronger results across both houses and condos.
The pressure point is supply. Buyers had fewer choices, and the best listings moved quickly. Many also traded in Coming Soon status before reaching the open market, which made the market feel even tighter than the numbers suggest. Overall inventory fell 27.6% for single-family homes and 29.0% for condominiums compared with last April.
Condominiums had the biggest turn. Closed sales rose 24.8%, pending sales rose 17.9%, and the median sales price climbed 17.5% to $1,377,500. Days on market fell from 28 to 13, and 57.7% sold over asking with an average of 108.5% of list price received. After a slower recovery, the condo market is back in a strong position.
Single-family homes remain the most competitive segment. The median sales price rose 18.3% to $2,105,000, the median price per square foot increased 11.3%, and homes sold in a median of 11 days. Sellers received 125.1% of the list price on average, with 85.4% selling over asking. Closed sales also rose 9.8%, even with far less inventory.
The broader story is simple. AI wealth, tech hiring, tight supply, and mortgage rates below last year’s level continue to support San Francisco demand. For sellers, well-prepared listings are getting attention. For buyers, preparation matters more than ever.
