San Francisco Real Estate Market Report - April 2023

Jackson Salamunovich • May 15, 2023

San Francisco Real Estate Market Report – April 2023

Trends at a Glance

For single-family homes, here are the key figures for April 2023 compared with March 2023 and April 2022:

  • Home Sales: 165 (down from 148 in March and 244 in April 2022)
  • Median Price: $1,570,000 (down from $1,697,500 in March and $2,050,000 in April 2022)
  • Average Price: $2,148,830 (down from $2,282,230 in March and $2,465,518 in April 2022)
  • Sales Price/List Price (SP/LP): 101.5% (down from 103.5% in March and 118.4% in April 2022)
  • Days on Market: 31 (up from 28 in March and 14 in April 2022)


For lofts, townhomes, and TICs, here are the key figures for April 2023 compared with March 2023 and April 2022:

  • Condo Sales: 210 (down from 241 in March and 364 in April 2022)
  • Median Price: $1,172,500 (up from $1,075,000 in March but down from $1,338,000 in April 2022)
  • Average Price: $1,378,035 (up from $1,216,303 in March but down from $1,422,700 in April 2022)
  • Sales Price/List Price (SP/LP): 98.4% (down from 100.7% in March and 107.4% in April 2022)
  • Days on Market: 55 (same as March but up from 31 in April 2022)


Market Analysis

The median sales price for single-family, re-sale homes was down 7.5% in April from March, and down 23.4% year-over-year. The average sales price was down 5.8% month-over-month and 12.8% year-over-year. Sales of single-family, re-sale homes fell 32.4% year-over-year with 165 homes sold in San Francisco last month, compared to the average of 214 since 2000.


For condos and lofts, the median sales price was down 12.4% year-over-year. The average sales price was down 3.1% year-over-year. Sales fell 42.3% year-over-year with 210 condos/lofts sold last month, compared to the average of 230 since 2000.


The sales price to list price ratio fell from 103.5% to 101.5% for homes and from 100.7% to 98.4% for condos/townhomes.


The average days on market, the time from when a property is listed to when it goes into contract, was 31 for homes and 55 for condos/lofts.


Momentum Statistics

Sales momentum for homes dropped from –34.6 to –38.4 and for condos/lofts, it was down 7.3 points to –61.9. Pricing momentum for single-family homes fell 4points to –13.8 and for condos/lofts, it fell 2.3 points to –7.9.

These momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.


If you are planning on selling your property, please call for a free comparative market analysis.


For the complete annual report, which includes charts and graphs for each city in the county, click here.

Information based on the 'The Real Estate Report of Local Market Trends for San Francisco' by Robb Fleischer, Broker/Officer for AMSI and Novo Real Estate Services.

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