SAN FRANCISCO SEPTEMBER MARKET REPORT
-
Mortgage Interest Rates: As of September 2025, the weekly average 30-year conforming-loan interest rate reported by Freddie Mac was 6.5%, its lowest reading since October 2024. Additionally, the daily average rate reported by Mortgage News Daily dropped to 6.28% on September 8, 2025.
-
Median Sales Prices:
- Houses: The 3-month rolling median house sales price in August 2025 increased by 3% year-over-year but declined from the spring peak.
- Condos: The 3-month rolling median condo sales price rose by just over 1% year-over-year, reflecting slower appreciation compared to houses.
-
Stock Market Impact: The S&P 500 and Nasdaq indices have seen significant growth since January 2024, with large increases positively influencing affluent real estate markets like San Francisco.
-
Luxury Home Sales: After a summer slowdown, luxury home sales (houses priced $5M+ and condos/co-ops priced $3M+) are expected to rebound in the fall, with seasonal fluctuations being a key trend.
-
Market Dynamics:
- New Listings: Listing activity typically peaks in September, fueling the fall selling season.
- Days on Market: In August 2025, houses sold in an average of 34 days, while condos took 73 days.
- Overbidding: 47% of sales closed over the list price, with houses at 70% and condos at 25%.
