San Francisco CA Real Estate - San Francisco CA Homes For Sale | Zillow (2024)

FAQs

Are home prices dropping in San Francisco? ›

Home prices have plunged in San Francisco since homebuying boomed during the pandemic, making it more likely for sellers in the city to lose money than in other parts of the country.

Starting in the 1990s, the city of San Francisco and the surrounding San Francisco Bay Area have faced a serious housing shortage. The Bay Area's housing shortage is part of the broader California housing shortage.

2021 and beyond is a great time to buy property in the SF Bay Area. Due to various factors, the housing market should stay strong for years to come. SF Bay Area property prices have actually underperformed during the global pandemic as people moved to less dense areas.

San Francisco, CA housing market

The median listing home price in San Francisco, CA was $1.2M in June 2024, trending down -7.7% year-over-year. The median listing home price per square foot was $957. The median home sold price was $1.2M.

“The market is in a recovery mode,” says Ying He, a real estate agent at Barb Co. “I feel San Francisco really hit rock bottom in the fall and winter of 2023, and the market has come back very strong since the beginning of this year.” Some homes at San Francisco's Four Seasons Residential have been selling for a loss.

In the San Francisco Bay Area, the outlook for home sales in 2024 remains robust, with projections suggesting stability compared to the previous year and possibly a slight increase.

A recent analysis from ConsumerAffairs reveals that San Francisco residents need a minimum salary of $131,050, while San Jose residents must earn at least $124,292, and Fremont residents require $117,339. In Oakland, the minimum salary needed for comfortable living is $99,334.

In fact, in the priciest locales — New York, San Francisco and Honolulu — $100,000 buys you the same quality of life as someone making $36,000 per year almost anywhere else in the nation, according to a new analysis from personal finance website SmartAsset.

If you're confident that you can afford the cost of the purchase (as well as the ongoing costs of property taxes, insurance premiums, maintenance and upkeep), then it may well be a good idea. San Francisco real estate has historically proven to be a wise investment.

San Francisco. In San Francisco, you need an annual household income of $404,332 to afford an average home. This is the most expensive market in the country, with a median monthly mortgage price of $10,108, according to Redfin.

Is it cheaper to rent or buy in San Francisco? ›

This was especially the case in the San Francisco and San Jose metro areas, which had some of the highest cost differentials: In San Francisco, their data showed you'll pay nearly 96% more to own versus rent.

In short, yes. Older adults happen to be the fastest growing age group in San Francisco, with almost 30 percent of residents hitting 60 or older by 2030, according to the San Francisco Human Services Agency. In 2010, it was 19 percent and in 2020 it was 23 percent.

$200k in SFBA is well beyond the point where all your basic needs are met. The fact that you have have to stipulate that one can live without roommates and "all basic needs are met" with a $200,000 salary proves the OP's point. That's more than 6 times the median annual income in the US.

Presidio Heights

Stylish Presidio Heights is the most expensive neighborhood in San Francisco, with an average rent for a one-bedroom unit coming in at $4,500. There are plenty of reasons why this neighborhood draws residents. The tree lined streets showcase stately historic mansions.

With a median household income that is nearly double the national average, San Francisco costs 82.8% more than the national average, the study found. San Franciscans need to earn slightly more than $300,000 pre-tax to take home $100,000 of purchasing power.

The California median home price is forecast to rise 6.2 percent to $860,300 in 2024, following a projected 1.5 percent dip to $810,000 in 2023 from $822,300 in 2022.

San Francisco rents are flat month-over-month and down 1.0% year-over-year. The median rent in San Francisco rose by 0.5% over the course of July, and has now decreased by a total of 1.0% over the past 12 months.