To get straight to the point, the median home price in San Francisco in 2026 is approximately $1.7 million. This is clear. As of May 2026, the median transaction price for all homes in San Francisco (including single-family homes) reached $1.7 million, marking a 16.1% increase compared to the same period last year. In San Francisco County, the median price as of April was recorded at $2,127,500. Both figures indicate that the market is experiencing a distinct upward trend.

Here are the key indicators summarized:

• Median transaction price (May 2026): approximately $1.7 million (up 16.1% year-over-year)
• San Francisco County median price (April 2026): $2,127,500 (up 19.5% year-over-year)
• Average asset value of single-family homes (Zillow, May 2026): approximately $1.39 million (up 7.6% year-over-year)
• Single-family home inventory: approximately 0.8 months (extremely seller's market)
• Condo inventory: approximately 2.1 months
• Average days on market for listings: approximately 13 days

The inventory situation clearly reveals the structural causes of the market. As of February 2026, there were 1,964 active listings in San Francisco, a 4.7% decrease from the previous year. The number of single-family home listings was only 157 in February, a staggering 37.5% drop compared to February 2025. Condo listings also decreased by 15.8% year-over-year. The lack of new development sites and strict zoning regulations are directly reflected in these figures, hindering supply expansion.

The unusually rapid price increase is due to the imbalance between supply and demand. The recovery of employment in the tech sector and expectations of interest rate cuts have revived demand, while inventory remains critically low. The total home sales in the Bay Area increased by 5.5% compared to the previous year, and multiple offer competitions arise as soon as properties hit the market. The fact that contracts are signed on average within 13 days of listings being posted underscores this.

For serious buyers, there are several key points to check in the current market. First, you must complete pre-approval and be ready to bid. Buyers who are not financially prepared in a multiple offer environment will fall behind from the start. Second, it is essential to set a price ceiling. An annual increase rate of 16% indicates that the market has entered an overheating phase, and the possibility of a correction cannot be ruled out. Third, you should check for regional variations. Price movements differ between single-family homes and condos, as well as by neighborhood, so a detailed comparative analysis of specific listings is necessary.

The 2026 San Francisco housing market is characterized by a structural bull market driven by supply shortages and recovering demand. While there is a possibility of further price increases in the short term, it is also important to remember that shifts can occur at any time due to interest rate fluctuations and macroeconomic conditions. (Source: Redfin, Zillow, Legacy Real Estate, CoStar, Norada Real Estate Investments, as of 2026 / This article does not constitute investment or legal advice, and it is recommended to consult with professionals before making any actual contracts.)