San Francisco, CA 94105 Real Estate Market Report

ZIP Code: 94105
Report Date: February 2026
Market Temperature: HOT
Scope: This ZIP code has limited single-family residential (SFR) inventory. Metrics are based primarily on other residential property types (e.g. condos/townhomes) as a proxy, so treat SFR conclusions as directional rather than precise.

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Executive Overview

As of February 2026, the real estate market in San Francisco, CA (ZIP: 94105) is characterized by a median sold price of $1,299,000, reflecting the actual market transactions and indicating a robust demand despite elevated inventory levels. The market has shown a positive price trend, with prices generally trending up. This suggests a competitive environment, driven by a strong local economy, particularly in the AI startup sector, alongside falling interest rates which may further stimulate buyer activity.

The market is currently experiencing moderate transaction volume, with 244 days as the median days on market, indicating a slower sales velocity. Elevated inventory levels relative to sales activity suggest that while there is demand, the supply of homes is not as constrained as it has been in the past. This dynamic may create pricing friction as buyers navigate the gap between seller expectations and market realities, particularly given the median listing price of $1,999,999 which is significantly higher than the median sold price.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in San Francisco, CA, around 6.000% are lower than the 6.25% average rate seen for similar loans originated earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $1,299,000 indicates strong buyer interest despite elevated inventory levels.

2. With a median listing price of $1,999,999, there is notable pricing friction between seller expectations and market realities.

3. The median days on market of 244 suggests a slower sales velocity, reflecting a moderate transaction environment.

4. The market temperature is currently hot, indicating strong demand driven by a robust local economy and falling interest rates.

5. The median market rent of $4,350 continues to rise, reflecting ongoing demand in the rental sector.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.