San Francisco, CA 94109 Real Estate Market Report
ZIP Code: 94109
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
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.
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.
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.
Property Taxes
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.
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 are approximately 6.38%, which is 0.78% higher than the 5.60% average observed for typical loans originated in this market earlier in 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's primary indicator, the median sold price, is $3,074,950, which establishes current market value based on completed transactions and supports pricing above many city submarkets; combined with a hot market temperature, this suggests sellers can expect strong price outcomes on representative recent sales.
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The median days on market is 821, indicating notably slower sales velocity for closed transactions—this long absorption period may reflect pricing friction or selective buyer behavior rather than broadized demand weakness, so underwriters and pricing agents should treat each listing as a representative recent sale rather than relying on rapid turnover. slower sales velocity
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The median price per square foot is 1,456 while the median market rent is $3,195; these fixed metrics point to high per-unit valuation and solid rent levels in the sample, so investors and pricing teams should prioritize unit-level comparables and rent-supported valuation scenarios when assessing SFR and condominium opportunities. high unit valuation
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Market-level signals show price year-over-year trend is up and market temperature is hot, but interest rate pressure is elevated (current 30-year fixed mortgage rates in market context are approximately 6.38%, 0.78% higher than the early-2026 average); this combination suggests momentum in pricing but constrained affordability, and with elevated inventory relative to sales activity the market may exhibit pockets of negotiation even amid overall strength. elevated interest rate pressure
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold below market average
San Francisco, CA 94109 Real Estate Market Report
ZIP Code: 94109
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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.
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.
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.
Property Taxes
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.
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 are approximately 6.38%, which is 0.78% higher than the 5.60% average observed for typical loans originated in this market earlier in 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary indicator of recent market value is the $999,000 median sold price, which, alongside a hot market temperature and a up price year-over-year trend, suggests realized transaction values remain strong in this ZIP code.
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There is a notable spread between the $810,000 median listing price and the $999,000 median sold price, which may indicate pricing friction or competitive bidding dynamics where representative recent sales are clearing above asking in many cases.
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The 342 median days on market points to slower sales velocity relative to typical hot-market expectations and may reflect lags in transaction timing or higher buyer selectivity despite the overall hot market signals.
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Rents and financing are exerting mixed pressure: the $4,450 median market rent and a up rent year-over-year trend support rental demand, while elevated interest rate pressure (Current 30-year fixed mortgage rates in San Francisco are approximately 6.38%, which is 0.78% higher than the 5.60% average observed for typical loans originated in this market earlier in 2026) may constrain affordability and temper purchaser capacity.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.2% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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