San Francisco, CA 94118 Real Estate Market Report

ZIP Code: 94118
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in San Francisco, CA (ZIP: 94118) stands at $2,495,000, reflecting a robust market driven by strong demand, particularly from the AI and tech sectors. The market has shown a consistent upward trend, with prices continuing to rise, indicating a competitive environment for buyers. The elevated demand, coupled with constrained supply, has resulted in a market characterized by rapid appreciation in home values and increasing rents.

Current market conditions reveal a median days on market of 314, suggesting a slower sales velocity despite the hot market temperature. The elevated inventory levels relative to sales activity indicate a potential imbalance, where excess supply may be contributing to longer selling periods. This dynamic may suggest that while prices are high, buyers are exercising caution, leading to a more measured pace of transactions.

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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 are averaging 6.38%, which is 0.29% higher than the 6.09% average seen in early 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 $2,495,000 indicates a strong market demand, particularly from the tech sector, contributing to ongoing price appreciation.

2. With a median days on market of 314, the market is experiencing slower sales velocity, which may reflect buyer caution amidst elevated prices.

3. The median market rent of $4,283 suggests a competitive rental market, further emphasizing the demand for housing in the area.

4. The property tax rate of 1.182% may influence buyer decisions, particularly in a market with high property values.

5. Current interest rate pressure is elevated, with mortgage rates averaging 6.38%, which could impact buyer affordability and overall market activity.

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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.