San Francisco Housing Market: Trends & Prices

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    San Francisco Real Estate Market Overview

    (Last Updated – 03/2020)

    The City by the Bay is an alluring town known for its amazing food, gorgeous architecture, and world-class art market. Not to mention, those stunning bay views. This city may have a lot of cool, gloomy days, but the San Francisco housing market is very hot.

    San Francisco home prices are cooling off after seven years of price appreciation and prices are expected to remain in a 2% +/- range into 2020. San Francisco was found to be the third most expensive city in America, with the cost of living being 24.7% higher than the national average.

    For an average family of four to live in San Francisco, they would need to spend over $12,000 a month on living expenses. While living in San Francisco is expensive, the city also has a lot to offer that might make the cost worth it.

    Alongside amazing career opportunities in the tech world and other major industries, there is plenty of art, music, food, and fashion to enjoy in this somewhat small but very metropolitan city. San Francisco is beloved for its diversity, so if you do move there, make sure to take advantage of all of the city’s quirks.

    $1,310,000

    Avg. Home Price

    $964

    Avg. Price Per Sq. Ft

    34 days

    Avg. Time on Market

    San Francisco Housing Market Forecast

    If you’re curious what San Francisco house prices will look like in the near future, consider this housing market forecast.

    San Francisco home values are expected to rise by 4.6% in the next year, which is no small amount when you consider the average home price in San Francisco is $1,310,000.

    Housing market forecast chart

    *Graph taken from Zillow as of 02/2020

    Demographics of the San Francisco Market

    While San Francisco is a relatively compact city, its many neighborhoods offer up completely different vibes. From residential, to coastal, to retro, there’s likely a neighborhood for everybody.

    Overall, let’s look at the demographics of the San Francisco real estate market that may affect you, no matter where you decide to live.

    Median Income: $112,376

    Median Age: 38.3

    College Educated: 57%

    Homeowners: 37.6%

    Married: 42%

    Buena Vista

    If you’ve always dreamed of having your own room with a view, then you’re in luck. The Buena Vista neighborhood lies upon one of San Francisco’s notoriously steep hills, providing residents with great views.

    This neighborhood provides a safe haven from the hectic city as it is low on commercial street traffic and high on greenery.

    Quick Facts

    Population:

    43,610

    Median Age:

    33.6

    Housing Units:

    19,746

    Bike Score:

    71

    Walk Score:

    92

    Transit Score:

    88

    Average Household Income:

    $176,172

    Buena Vista Housing Market

    This competitive neighborhood averages multiple offers per home sold with homes selling for about 8% above the listing price.

    Home prices have gone up in the last year and it isn’t unusual for Buena Vista houses on the market to go pending in just 20 days.


    Average Home Price

    $2,005,000

    Average Price Per Sqare Ft.

    $648


    Outer Sunset

    The Outer Sunset is another San Francisco neighborhood that offers a tranquil feel.

    This almost suburban neighborhood is right on top of the Pacific Ocean which means there is a lot of outdoor fun to be had—especially if you love to surf.

    Quick Facts

    Population:

    62,516

    Median Age:

    39.5

    Housing Units:

    24,352

    Bike Score:

    76

    Walk Score:

    78

    Transit Score:

    62

    Average Household Income:

    $133,356

    Outer Sunset Housing Market

    The Outer Sunset is a very competitive housing market with home prices up 7.2% compared to last year and houses are only on the market for 18 days. In this neighborhood, homes sell on average about 16% above the list price.


    Average Home Price

    $1,420,000

    Average Price Per Square Ft.

    $830


    South of Market

    San Francisco’s South of Market District, commonly called SoMa by locals, has become the home of many tech start-ups in recent years.

    This neighborhood has something for everyone—from Michelin star restaurants to a trusty Trader Joe’s. It is also near other popular neighborhoods like the Design District, which expands your options for food, entertainment, and shopping.

    Quick Facts

    Population:

    17,320

    Median Age:

    37

    Housing Units:

    10,189

    Bike Score:

    93

    Walk Score:

    96

    Transit Score:

    100

    Average Household Income:

    $116,855

    South of Market Housing Market

    This area is slightly more expensive than the San Francisco average, but might become more so in the next few years.

    South of Market home values are up 4.5% since last year and homes sell for about 2% above list price.


    Average Home Price

    $1,150,000

    Average Price Per Square Ft.

    $1,005


    Pacific Heights

    Some refer to Pacific Heights as the most prestigious neighborhood in all of San Francisco, as housing prices are pretty high in this area.

    There are many grand Victorian homes in Pacific Heights and the neighborhood offers great views of the Bay and the Golden Gate Bridge.

    Quick Facts

    Population:

    22,181

    Median Age:

    36

    Housing Units:

    12,985

    Bike Score:

    66

    Walk Score:

    96

    Transit Score:

    89

    Average Household Income:

    $151,051

    Pacific Heights Housing Market

    As one of the most expensive neighborhoods in the entire city, prospective buyers may be happy to know that home prices are down 23% compared to last year.

    Houses are still going 2.5% above list price and go pending in around 38 days.


    Average Home Price

    $1,560,000

    Average Price Per Square Ft.

    $1,210


    Haight-Ashbury

    The name Haight-Ashbury might ring a bell as it is considered the epicenter of the 1960’s counterculture movement.

    Today, you’ll see remnants of that time period with tie-dye and peace signs still scattered around this neighborhood. You’ll also find high-end vintage clothing shops and great restaurants in this area.

    Quick Facts

    Population:

    43,610

    Median Age:

    33.6

    Housing Units:

    19,746

    Bike Score:

    82

    Walk Score:

    96

    Transit Score:

    80

    Average Household Income:

    $176,172

    Haight-Ashbury Housing Market

    If you want to buy a home in Haight-Ashbury, get ready to compete. Many homes in this area receive multiple offers and generally sell for about 6% above list price.

    Highly-desirable homes can even sell for as much as 14% above list price.


    Average Home Price

    $1,520,000

    Average Price Per Square Ft.

    $1,020



    SoFi Home Loans

    It’s easy to see why San Francisco has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from whether you’re young and single or have a family to look after.

    If you think San Francisco could be your home sweet home, then you may need to consider your home loan options.

    If you’re buying a home or refinancing an existing mortgage, SoFi can help you make the process as quick and painless as possible.

    Learn more


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