San Francisco Homes Sell 110 Percent Above Asking

San Francisco’s housing market has seen quite the improvement over the past year, though it’s slowed in recent months.

San Francisco saw a 12.2 percent increase in home sales year-over-year from June 2024 to 2025, according to the latest report from the California Association of Realtors. Home sales in San Francisco ticked up 1.2 percent from May to June to 221 single-family residence sales in the month of June.

Homes went for well above asking price in San Francisco in June. The city saw a 111.2-percent sales price-to-list price ratio in the past month and a 3.3 percent increase in sales prices year-over-year. From May to June, though, sale prices fell 5.3 percent.

Sales prices in the Bay Area at large, meanwhile, held steady.

The region saw no change in sales prices from May to June and from June 2024 to June 2025. Home sales increased 1.6 percent from May to June and 1 percent year-over-year.

“With more properties on the market and price growth flattening, conditions have become more favorable for prospective buyers who have been waiting on the sidelines to reenter the market and take advantage of increased negotiating power,” CAR president and Palm Springs Realtor Heather Ozur said in a statement of the wider California housing market. “Recent improvements in housing sentiment suggest that the market could see a bounce-back in the second half of the year.”

The Bay Area has seen an influx of international buyers as wealthier families from East Asia, Dubai and London look to break into the market.

“I think because the [venture capital] money is still in the Bay Area, this is why they want to be here. They want to be here physically and they need to be here for all the mentoring,” Steven Huang, president of the San Francisco Association of Realtors, told the San Francisco Business Times.

The growth of artificial intelligence firms in the Bay Area could drive up home demand even further in the coming years. AI firms are predicted to hire between 50,000 and 60,000 workers in San Francisco over the next five years, according to CBRE. Renters, rather than homebuyers, could bear the brunt of an AI-related housing cost surge, per AvalonBay Communities COO Sean Breslin. — Chris Malone Méndez