San Francisco Market Update | April 2021

  • Chris Jurach
  • 04/8/21


San Francisco Market Update

Q1 2021 Wrap-up


San Francisco remains tremendously active as we continue through the spring selling season. The number of properties sold increased significantly in both the single-family home and condominium segments. The median sale price for Single-family homes also recorded a new record for the quarter at $1,675,000; a 6.7 percent increase from last year. They are also selling slightly faster than last year at a median market time of 12 days.

The condominium sector is a bit more friendly to buyers currently, even though there was a huge yearly increase in the number of sales. The median sale price decreased 3.8 percent with the median days on market increasing 12 days from last year to 36 for the quarter. So while more condominiums are selling, they are doing so at a slightly lower price and with longer time spent on the market.

National mortgage rates remained mostly flat last week after recent increases. FreddieMac reported, 'Although mortgage rates remain low, we are beginning to see a pullback by those looking to enter the housing market. In fact, homebuyer demand has gone from 25% above pre-COVID levels at the start of the year, when mortgage rates hit record lows, to 8% above pre-COVID levels today. We even see that purchasing demand is diminished today as compared to late May and early June of 2020 when mortgage rates were at the same level. This is confirmation that while purchase demand remains strong, the marginal buyer is feeling the affordability squeeze resulting from the increases in mortgage rates and home prices we've experienced in recent months.

Year-over-year Comparison
Single Family Residences



Month-over-month Comparison
Single Family Residences

Change in Past Month:

Median Area Values
Single Family Residences
Q1 2021



Top Five Sales in Q1 2021
Single Family Residences



150 Glenbrook Avenue 
Clarendon Heights

$17,500,000  $2,352/sq. ft.
6 bed / 8 bath  7,440 sq. ft.



2820 Scott Street
Cow Hollow

$17,450,000  $1,163/sq. ft.
7 bed / 11 bath  15,000 sq. ft.



2502 Broadway Street
Pacific Heights

$13,450,000  $2,305/sq. ft.
5 bed / 5 bath  5,836 sq. ft.



2100 Jefferson Street
Marina

$12,500,000  $2,083/sq. ft.
5 bed / 5 bath  6,000 sq. ft.




Year-over-year Comparison
Condominiums/Tic/Coops

Month-over-month Comparison
Condominiums/Tic/Coops

Change in Past Month:



Median Area Values
Condominiums/Tic/Coops
Q1 2021

Top Five Sales in Q1 2021
Condominiums/tic/coops



2000 Washington Street #5
Pacific Heights

$14,500,000  $2,685/sq. ft.
4 bed/3 bath  5,400 sq. ft.



488 Folsom Street #5302
South Beach

$9,250,000  $2,145/sq. ft.
3 bed/3 bath  4,312 sq. ft.



1170 Sacramento Street #17d
Nob Hill

$7,500,000  $2,698/sq. ft.
2 bed/3 bath  2,780 sq. ft.



181 Fremont Street #61b
Yerba Buena

$6,600,000  $2,852/sq. ft.
3 bed/4 bath  2,314 sq. ft.



1100 Union #701
Russian Hill

$5,900,000  $2,269/sq. ft.
3 bed/3 bath  2,600 sq. ft.

Year-over-year Comparisons



Median Market Time



Number of Sales