By Paarth Shah, REALTOR® · July 2, 2026 · San Francisco
If you've been watching San Francisco headlines swing between "collapse" and "comeback," the honest answer is somewhere in between, and it depends heavily on what you're buying.
Here's what the recent data actually shows. Redfin reports a median sale price of roughly $1.7M over the three months ending in spring 2026, up meaningfully from the same period a year earlier, with homes selling in around two weeks and receiving multiple offers on average. Zillow's average home value estimate is lower (around $1.39M) because it blends all property types citywide, including condos. Both can be true at once; they measure different things.
The more useful distinction isn't "recovering or not," it's which San Francisco. Single-family homes in established neighborhoods have held up and, in many cases, moved quickly. Condos, especially in downtown and South of Market, have recovered more slowly, with softer pricing and longer time on market. If you read a citywide average and apply it to a specific condo, you'll likely misjudge both your offer and your timeline.
A few things haven't changed. San Francisco remains supply-constrained: limited developable land and strict zoning keep new inventory tight, which puts a floor under prices even in quieter stretches. That's a long-standing structural feature, not a 2026 event.
So is it "recovering"? Recent single-family numbers point to renewed strength rather than a distressed market. But I'd caution against treating any single quarter as a trend, and against reading a rising median as a promise about your particular block or building. Prices, rates, and demand can move, and a three-month median can be pulled around by which homes happened to sell.
What I'd actually do before deciding: pull comparable sales for the specific neighborhood and property type you care about, not the citywide figure. A house in Noe Valley and a condo in Mission Bay are effectively two different markets sharing a ZIP-code prefix.
If you'd like, I'm happy to run neighborhood-level comparables for what you're considering and talk through the trade-offs, no pressure to transact. You can reach me at paarth@brokerbela.com or through the contact page.
Recent data shows single-family homes in established neighborhoods selling quickly at rising median prices, while condos have recovered more slowly. Trends vary sharply by neighborhood and property type, so citywide averages can be misleading for any specific home.
Sources
This is general market commentary, not financial, investment, or legal advice; figures are as of publication and can change. Verify specifics, including any school assignments, ratings, or boundaries, independently. Bela Realty & Investments is committed to Equal Housing Opportunity and does not steer clients toward or away from any neighborhood on the basis of a protected characteristic.