San Francisco Housing Market Update: Prices Near $1.3M as Mortgage Rates Dip Below 6%

San Francisco, CA – February 28, 2026 – Prices held near $1.3M, days on market improved, rates slipped under 6%, and inventory stayed active.

San Francisco, CA – February 28, 2026 – Recent market dashboards continue to point to firm pricing heading into spring, even as sales pace looks slower than last year. Buyers still have options, but homes priced well can move quickly.

Top takeaways

  • Pricing (Redfin): January 2026 median sale price was $1.3M (+2.8% YoY).
  • Speed (Redfin): Median time to sell was 44 days in January 2026.
  • Home values (Zillow): Typical home value was $1,258,198 (+3.1% YoY), with homes going pending in about 26 days.
  • Mortgage rates (Freddie Mac): The weekly average for a 30-year fixed mortgage was 5.98% as of 02/26/2026, down from 6.01% the prior week.

Market snapshot

On the sales side, Redfin reported 222 homes sold in January 2026, down from 282 a year earlier. That slower year-over-year pace can matter for sellers watching demand, especially if pricing expectations are set based on last year’s activity.

Inventory remains active. Zillow’s January 31 snapshot showed 729 homes for sale and 224 new listings. With more choice, buyers may take a closer look at condition, layout, and price positioning before making an offer. At the same time, the pending timeline data suggests that when a home checks the right boxes, it can still move.

ServiceXTC local pros

  • National Maintenance Services of San Francisco — Cleaning service
  • Quality House Cleaning Services — Cleaning service
  • UDG Services LLC — Appliance repair service

What are you seeing right now—more price cuts, more bidding, or more sellers waiting for lower rates?

Sources

Nearby

Leave a Reply

Your email address will not be published. Required fields are marked *