San Francisco Home Prices Jump 5% Over Last Year as Tech Demand Heats Up

San Francisco’s residential market posted a notable 5% rise in median home prices over the last quarter compared with the same period in 2025, according to newly released data from the San Francisco Association of Realtors. The citywide median now sits at $1.3 million, up from $1.24 million last summer—a reversal from the gentle declines seen over much of 2024.

Tech Recovery Pushes Key Neighborhoods Higher

This uptick matters for both buyers and sellers navigating a rapidly shifting landscape. After an uncertain 18 months marked by layoffs and sluggish tech hiring, Salesforce, OpenAI, and other downtown firms have resumed relocating workers back to Market Street offices. That renewed demand has fueled competition in established enclaves and up-and-coming pockets alike, propping up prices citywide just as many metros, from New York to Seattle, show only flat or modest gains.

Pacific Heights and the Marina District remain in a league of their own. On streets like Broadway, median detached home sales topped $5 million between April and June—up nearly 7% year-over-year as international buyers returned and tech stock-fueled buyers re-entered the market. Meanwhile, the Mission and Dogpatch recorded the city’s fastest growth in condo prices, with median condo sale values hitting $1.15 million in the Mission and $1.08 million in Dogpatch as of June 30, according to Compass’ Q2 market report. The well-trafficked Dogpatch Arts Plaza and nearby UCSF Medical Center continue to attract biotech professionals seeking newer construction and proximity to waterfront parks.

Data Signals Sustained Momentum

The latest quarterly report from Paragon Real Estate shows total residential transactions across San Francisco reached 1,460 in the April-June period, up from 1,320 a year earlier. Inventory remains tight: as of July 1, there were only 870 active single-family and condo listings on the city market, 10% lower than last year. Despite ongoing affordability concerns, 38% of all homes sold above asking, with Pacific Heights and Bernal Heights most likely to see bidding wars.

Certain micro-markets have rebounded faster than others. In the Mission, median single-family sale prices rose 6.8% year-over-year, compared to a 3.5% gain in the Richmond District. Citywide, luxury properties over $4 million saw buyer interest surge, while entry-level stock remains scarce, squeezing first-time buyers and renters hoping to convert.

Looking ahead, agents at Zephyr Real Estate expect competition to remain stiff through the fall, especially if interest rates edge downward. Potential buyers should act quickly on realistic listings, especially in high-demand corridors like Polk Street and Hayes Valley. For sellers, this may represent the best window in two years to command top dollar. Even as the Golden Gate Bridge shimmers in the heat haze and Fourth of July fireworks are called off for public safety, San Francisco’s market is pushing higher—defying economic headwinds and recapturing its perennial property lustre.