If Q4 2025 proved anything, it’s that the condo market found its footing. Buyers came back in force, sales climbed and well-priced units moved more quickly than they had a year earlier. When the right property hit the market—especially with views and parking—buyers didn’t hesitate to stretch.
Here’s a breakdown of the trends and surprises shaping the market as we head into 2026:
Q4 2025 showed strength across the condo market, with year-over-year (YOY) gains in nearly every key metric. Closed sales rose 19.5%, increasing from 516 units in Q4 2024 to 617 in Q4 2025. Pricing also moved higher, with the median sale price climbing 4.5% from $1,125,000 to $1,175,000, and price per square foot increasing 2% from $1,017 to $1,037.
Days on market dropped. Average days on market fell to 54, down from 62 days in Q4 2024, signaling stronger buyer engagement and faster decision-making.
Overbidding remained relatively modest, averaging just 2% citywide. But when bidding wars did happen, buyers went big—particularly in November. Renovated units with parking commanded strong premiums, especially in Cole Valley, Corona Heights, the Haight, Noe and Eureka Valleys, NoPa and Hayes Valley.
North-end view condos were in a class by themselves. All bets were off if a condo came on the market in Telegraph or Russian Hill with iconic views, even it was only a one bedroom. Case in point: 750 Francisco (at Bret Harte Terrace) had a dead-on view of Coit Tower, private terrace and two-car parking. Listed for $1,195,000, this one bedroom closed for…wait for it…$1,715,000. (Photo above courtesy Compass)
And the two-bedroom unit listed for $1,195,000 at 1440 Montgomery #21 at the base of Coit Tower had Bay views. It closed for $1.6M in an all-cash transaction. In general, though, condos tended to sell for closer to their list prices, with larger buildings in downtown neighborhoods closing for at or below their asking prices.
The sun shone on one- and two-bedroom condos. 180 one bedrooms sold, a big leap from the 135 that closed in Q4 2024. We also saw the YOY two-bedroom median price climb from $1.2M to $1.3M.
Luxury condos sold more quickly. Days on market dropped by almost half YOY in the $3M+ range, meaning buyers were much quicker to act in late 2025. This is good news for sellers in the luxury category as we head into 2026.
Pricing expectations for current inventory need to change. There’s a disconnect between the average list prices of active and in-contract listings, which can be challenging to overcome. The 102 units in contract for an average list price of $965,000 point to where buyers’ sweet spot lies. But 210 active listings have an average asking price of $1,350,000.
Give me a shout if you’re planning to buy or sell a condo in 2026, I’m always available to consult and help you strategize and shape your search. I’m at eileen@insidesfre.com | 415.823.4656.