The San Francisco metro area housing market in January 2025 presents a complex landscape characterized by contrasting trends in pricing, sales, and inventory. The Median Sales Price has decreased by 1.5% year-over-year, settling at $1,379,000. This decline contrasts with the Median List Price, which has increased by 8.1% to $1,349,450, indicating a potential gap between seller expectations and buyer willingness.

Price Per Square Foot metrics further illustrate this complexity. The median Price Per Square Foot has risen by 2.6% to $927.21, while the Median List Price per square foot has decreased by 2.2% to $928.50. This divergence suggests that while sellers are listing properties at higher prices, the actual sales are occurring at slightly lower price points, reflecting a more cautious buyer approach.

Sales activity in the region shows a positive trend, with Homes Sold increasing by 6.2% year-over-year to 466 units. However, Pending Sales have seen a slight decline of 0.2%, totaling 555 units. This indicates a robust market for completed transactions, although future sales may face slight headwinds.

New Listings have surged by 14.6% to 1,046, contributing to a stable inventory level, which has seen a marginal increase of 0.3% to 1,317 units. Despite this increase in supply, the Months of Supply have decreased significantly by 20.0% to 2.8 months, suggesting a faster turnover of available properties and a competitive market environment.

The Median Days on Market have decreased by 13.0% to 52 days, indicating quicker sales and heightened buyer interest. The average sale to list ratio has improved by 2.9%, reaching 102.3%, and the percentage of Homes Sold above list price has increased by 9.0% to 42.3%, both of which underscore the competitive nature of the market.

Price Drops have slightly decreased by 0.3% to 13.0%, suggesting that sellers are adjusting their pricing strategies to align more closely with market conditions. Additionally, the percentage of homes going off the market within two weeks has increased by 4.8% to 52.1%, further highlighting the swift pace of transactions.

Overall, the San Francisco housing market in January 2025 is marked by a dynamic interplay of rising list prices, declining sales prices, and strong sales activity. Buyers and sellers alike must navigate these trends carefully to achieve their real estate goals in this competitive environment.