Top Real Estate Agents in San Francisco, California

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2023 San Francisco, California Housing Market Summary

San Francisco, California started 2023 with a total of 198 single-family homes on the market, with a median home price of $1,500,000 and an average price per square foot of $1,131. By the end of the year, inventory had decreased to 150 homes on the market (-24%), with a median home price of $1,521,000 (+1%) and an average price per square foot of $1,090 (-3%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had increased to 91 days.

San Francisco started the year with 30% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 34% of San Francisco homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that San Francisco started 2023 as a strong seller’s market, with an MAI score of 73; by the end of the year, the MAI had dropped to 71 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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