Markets & Economy

Is the San Francisco housing market ever going to cool down?

The market has seen an uptick in home sales in December
Published on Jan 25, 2016

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by CareyBot

There seems to be no end in sight for the San Francisco housing market that continues to gain steam. According to a recent report from Redfin, home vales in San Francisco rose in December by 12 percent on an annual basis reaching a whopping $1.15 million.

Prices are holding buyers back either, the volume of sales increased annually by 7.7 percent.

There is a shining light for homebuyers in San Francisco. The home price increases are dampening slightly compared with months like August when annual growth was around 20 percent.

Redfin median sales price san francisco

It’s been since May that San Francisco saw a higher number of home sales this year greater than last. Busy buyers trying to get in during the typical slow December season helped nudge home sales to a 7.7 percent annual change.

redfin homes sold san francisco

Ashbury Heights is the area’s priciest neighborhood with a median sale price of $2.24 million, which is a 86.5 percent increase year-over-year. Compare this to the City by the Bay’s most affordable neighborhood, Tenderloin where the median sales price is $483,500.

AreaMedian Sale PriceYear-Over-YearHomes SoldYear-Over-YearInventoryYear-Over-YearMedian Days on Market
Ashbury Heights$2,237,50086.5%8-57.9%5150.0%16
Bernal Heights$1,197,5004.1%615.2%2315.0%14
Civic Center / Van Ness$802,5007.0%22-31.3%19216.7%24
Crocker Amazon$829,0007.7%1550.0%9-10.0%14
Financial District$949,500-55.3%814.3%5-28.6%22
Forest Hill$2,075,00026.9%6-40.0%4100.0%20
Haight Ashbury$1,300,00020.9%220.0%30.0%15
Hayes Valley$1,275,00011.8%1122.2%8700.0%13
Inner Richmond$1,150,000-14.8%16-23.8%6-40.0%17
Inner Sunset$1,475,0005.0%15-34.8%138.3%14
Lower Haight$1,487,50019.7%12-42.9%6-33.3%16
Merced Heights$710,00012.7%12-40.0%6-45.5%22
Miraloma Park$1,250,00021.0%37-17.8%9-30.8%13
Mission Bay$1,110,00038.8%33-10.8%1110.0%13
Nob Hill$1,225,0003.2%2722.7%1011.1%16
Noe Valley$1,740,0002.4%48-23.8%2673.3%15
Outer Mission$780,000-1.9%166.7%4-63.6%17
Outer Richmond$1,105,000-8.5%2460.0%18260.0%25
Outer Sunset$1,020,00025.9%4711.9%14-22.2%16
Pacific Heights$1,700,000-13.3%50-24.2%3030.4%16
Potrero Hill$1,214,19221.4%47-26.6%21110.0%16
Rincon Hill$875,000-3.3%23-17.9%100.0%29
Russian Hill$1,562,500-16.6%3119.2%13-31.6%15
South of Market$1,105,00022.8%1542.7%727.5%18
Sunset District$1,186,50022.3%139-10.9%49-19.7%15
Telegraph Hill$1,190,500-1.8%8-11.1%80.0%15
Twin Peaks$1,158,50027.6%4-55.6%8166.7%14
Visitacion Valley$805,00016.7%15-28.6%11-62.1%14
Western Addition$840,00020.0%9-43.8%8100.0%15
San Francisco$1,150,00011.9%4747.7%331-7.0%19