General — Inner & Outer Richmond, Sea Cliff, Lake Street

District 1 closed 18 sales in February at a median of $2,463,000 — the third-highest district median citywide — driven by a strong SFH market with an SFH-specific median of $2,610,000. With only 0.78 months of supply and a 54.8% absorption rate, demand substantially outpaces available inventory. The district is predominantly SFH (11 of 18 closings), with 6 condos averaging $1,468,000. Notably, 22% of sales — 4 properties — transacted off-MLS, the highest off-MLS rate among lower-priced districts, suggesting an active private network among sellers. ATC data shows both tracked sales closing above asking at 109–111%, confirming competitive bidding is the norm here.

What This Means for Sellers

Sellers in D1 are in an excellent position: sub-1 month supply, quick absorption, and consistent overbid performance. SFH sellers in particular can expect multiple offers and prices above ask when priced correctly. The robust off-MLS market means sellers also have the option of testing the private market first, particularly for larger homes where buyer pools are pre-qualified. The gap between the median active list price ($1,373,000) and median closed price ($2,463,000) reflects the dominance of SFHs in closings versus a condo-heavy active inventory — sellers of homes should not anchor to active condo pricing.

What This Means for Buyers

Buyers must be prepared to move quickly and write over asking. The limited condo inventory offers a more accessible entry point into the district (median ~$1,468,000), but even there competition is real. For SFHs, buyers should expect bids 10%+ above list and should stress-test their financing accordingly. Given the 22% off-MLS rate, buyers not connected to agents with active private deal flow are effectively missing nearly a quarter of the market. Patience is thin here — the one stale listing over 30 DOM is the exception, not the rule.

General — Inner & Outer Sunset, Parkside

District 2 is a pure SFH market — all 31 February closings were single-family homes, with zero condos or TICs transacting. The median closed price of $1,860,000 and $1,095/sqft confirm this as one of the city's most consistent family-home markets. Despite a moderate active count of 21 listings, nearly 20 are already pending, yielding an absorption rate of 48.8% and just 0.68 months of supply. The ATC data tells a striking story: while the median LTC was 149% and one property closed at 170% over asking, these figures reflect aggressive underpricing strategies — buyers should evaluate actual competition rather than just the ratio. DOM is tight at a median of 11 days, and only one active listing has been sitting beyond 30 days.

What This Means for Sellers

This is one of the most seller-favorable districts in the city for SFH product. The underpricing strategy is alive and well here — setting an attractive list price consistently drives multi-offer scenarios with dramatic overbids. Sellers who price at $1.2–1.4M for a home worth $1.8M+ can expect a competitive process that nets market value or above within 1–2 weeks. The off-MLS rate is low (6%), meaning the public MLS market is where buyer activity is concentrated — sellers benefit from maximum exposure rather than private channels.

What This Means for Buyers

The Sunset is a competitive battleground for families and first-time SFH buyers. List prices are intentionally misleading — budgeting at list price will result in repeated losses. Buyers need to run comps aggressively and understand that a home listed at $1.2M may realistically sell for $1.7–2.0M. Strong escalation clauses, clean offers, and flexible close dates are key differentiators. Those targeting the $1.5–2.0M range will face the most competition; the $2.5M+ segment has slightly more room to negotiate but still moves quickly.

General — Lakeshore, Ingleside, Merced Manor

District 3 had the lightest transaction volume in February with just 10 closings, but the underlying demand signals are strong. The median closed price of $1,408,000 (9 SFHs, 1 condo) reflects a primarily single-family market at a relatively accessible price point. All three ATC-tracked sales closed above asking (106–122%), for a 100% over-ask rate. The pipeline shows a concerning imbalance however: 16 active listings against only 5 in pending, yielding an absorption rate of just 23.8% — the lowest in the city. Months of supply at 1.6 suggests more hesitation in the buyer pool than neighboring districts, which may reflect both thinner buyer awareness of this district and a few overpriced listings softening demand signals.

What This Means for Sellers

D3 sellers who price correctly are getting rewarded — the 100% over-ask rate on completed sales proves demand is there. The challenge is the relatively high active-to-pending ratio, which means mis-priced or poorly presented listings are sitting. Sellers need to be rigorous about pricing at or slightly below market and investing in presentation. The low off-MLS rate (0%) confirms buyers are discovering product on-market, so MLS exposure and marketing quality matter. Sellers who treat this like a set-it-and-forget-it market will be disappointed; those who execute with precision will see competitive offers.

What This Means for Buyers

District 3 offers one of the best combinations of value and competition in the city. The lower absorption rate means buyers have slightly more time to evaluate — median DOM of 12 days is still fast, but not the 7-day sprint of Districts 5 or 7. Entry-level SFHs in the $1.1–1.4M range represent meaningful value versus comparable product in adjacent districts. Buyers who are willing to look past lower name recognition will find better odds and less frenzied competition. The one active condo at $1,295,000 represents the district's only non-SFH option currently.

General — St. Francis Wood, Forest Hill, West Portal, Sunnyside

District 4 is one of the most balanced and high-conviction SFH markets in the city. February saw 20 closings at a median of $2,350,000, almost entirely SFHs (18 of 20), with $1,150/sqft — the second-highest PPSF of primarily-SFH districts. The absorption rate of 62.2% is the second-highest in the city, meaning nearly two-thirds of the combined active and pending pool is already in contract. Months of supply at 0.70 and a median DOM of 12 days confirm relentless demand. ATC data shows 75% of tracked sales closing above asking, with a maximum overbid of 23% and a high of $4,800,000 on 199 Brentwood Avenue. Zero off-MLS activity reflects a transparent, MLS-driven market with broad buyer participation.

What This Means for Sellers

D4 is a seller's market at every price point. The 62% absorption rate means a correctly priced listing will be in contract within days of hitting the market. The wide price range — from $1.4M condos to $4.8M SFHs — means sellers need to comp carefully within their specific sub-market rather than relying on district medians. The lack of off-MLS activity means sellers get maximum buyer exposure on the MLS, and pricing discipline here consistently delivers overbids. With 23 properties currently pending versus only 14 active, the pipeline is extremely healthy entering March.

What This Means for Buyers

Buyers in D4 should expect competition at every level. The 62% absorption rate is a clear signal that hesitation costs deals. Buyers targeting Forest Hill or St. Francis Wood SFHs above $2.5M will compete against well-capitalized buyers who understand the market and write clean, decisive offers. The two condos that closed in February averaged $1,638,000 — a meaningful discount to SFH but still a competitive sub-market. Pre-inspection and offer-ready positioning are essential. Budget conservatively — 8–15% over list is the realistic range based on ATC data.

General — Noe Valley, Castro, Haight-Ashbury, Cole Valley

District 5 is the city's most active and diverse market, closing 43 transactions in February — the second-highest volume citywide — across SFH, Condo, and TIC product types. The median closed price of $1,900,000 masks significant spread: SFH median was $3,300,000, condo median $1,650,000, and TIC median $1,200,000 — giving buyers three meaningfully distinct entry points. At $1,322/sqft, it holds the highest PPSF in the city, reflecting premium neighborhood desirability. The pipeline is deep but healthy: 47 active listings, 55 already pending, and a 53.9% absorption rate. The ATC data shows a more polarized picture than most districts — exactly half of tracked sales closed over ask (max 135%) and half under (min 91%) — a signal that pricing discipline is critical and the market rewards precision but punishes optimism.

What This Means for Sellers

D5 sellers are operating in a high-stakes, high-reward environment. The highest PPSF in the city means correctly valued homes generate exceptional returns, but the 50/50 over-ask rate in ATC data signals that buyers are increasingly discerning — overpriced listings sit. With 5 active listings already past 30 days on market, the inventory drag is real. SFH sellers in the $3M–5M range should expect strong but selective demand; condo and TIC sellers benefit from a broader buyer pool but need impeccable presentation to differentiate. The 9% off-MLS rate (4 sales) suggests an active private network for premium SFHs.

What This Means for Buyers

For buyers, D5 offers the most varied opportunity set in the city. TICs starting around $1.2M represent the most affordable path into these neighborhoods, with the trade-off of financing complexity and conversion risk. Condos at $1.65M median offer cleaner ownership with strong appreciation history. SFH buyers at $3M+ are entering a tightly contested market where off-market connections matter and sub-7-day decision windows are common — the 818 Douglass Street sale at $7.25M with 0 DOM illustrates how the top of this market moves. Buyers should be prepared for significant variance: the same street can have a property sell at 91% of ask and another at 135%.

General — Hayes Valley, NOPA, Western Addition, Lower Haight

District 6 closed 24 transactions at a median of $1,428,000, with the market dominated by condos (21 of 24 sales). The single SFH transaction — 1409 McAllister St at $3,435,000 — skews the type breakdown but illustrates the premium attached to the rare single-family home here. The active pipeline shows an interesting divergence: median active list price of $890,000 vs. a closed median of $1,428,000, reflecting a large cohort of smaller/lower-tier condos sitting in inventory against a closed pool weighted toward larger, updated units. Absorption sits at 41.7%, and MoS of 0.88 suggests reasonable but not frenzied demand. The sole ATC-tracked sale closed exactly at ask (100%), and the over-ask rate of 0% in this limited sample suggests pricing is fairly calibrated.

What This Means for Sellers

D6 condo sellers occupy a market where quality and pricing precision are paramount. The gap between active list prices and closed prices isn't a sign of dramatic overbidding — it's a composition effect where well-located, larger, updated units transact, while starter condos linger. Sellers of premium 2-bed condos in Hayes Valley or NoPa should price to the $1.3–1.6M market with confidence. Those with smaller, older product need to be realistic about the competition from 21 active listings and calibrate expectations to the $700K–$900K range. The one off-MLS sale suggests private deal flow exists at the upper end.

What This Means for Buyers

D6 is one of the more buyer-friendly condo markets in the city right now. The 41.7% absorption rate — lower than most districts — means there is more time to evaluate and more negotiating room than in Districts 2, 4, or 7. Buyers can find quality condos in Hayes Valley and NoPa at reasonable pricing without the extreme competitive pressure seen in SFH-dominated districts. The $700K–$950K range has the most options; the $1.2M–$1.6M range has less inventory but also less competition. The single TIC entry point around $1.95M (two transactions) occupies a niche upper tier.

General — Pacific Heights, Marina, Cow Hollow, Presidio Heights

District 7 is San Francisco's premier luxury market, and February confirmed its position. 39 closings at a median of $2,450,000 and $1,404/sqft — second-highest PPSF citywide — with an SFH median of $7,559,000 that reflects the extreme value of single-family homes in this corridor. The headline numbers are anchored by two nine-figure transactions: 2765 Union Street at $9,950,000 (0 DOM) and 3300 Jackson Street at $9,600,000. The 26% off-MLS rate — the highest in the city in absolute and relative terms — speaks to a market where the most significant transactions happen privately. The pipeline shows strong momentum: 26 pending vs. 24 active (52% absorption), and MoS of just 0.62. ATC data shows a split picture: 38% over ask with a maximum of 130%, while two deals closed under (min 91%) — the latter typically larger or more unique homes where pricing complexity is greater.

What This Means for Sellers

D7 is where the city's strongest sellers market meets its most sophisticated buyers. For SFH sellers, the opportunity is exceptional — sub-1 month supply, a strong luxury buyer pool flush with tech and finance capital, and a private market channel that allows premium transactions without public days-on-market exposure. The 26% off-MLS rate is not accidental; it reflects sellers who understand that discretion and access are as important as price at this tier. Condo sellers have a more competitive environment with 23 closings at a median of $1,510,000 — still strong, but with 24 active condos currently listed, pricing discipline is critical.

What This Means for Buyers

Buyers in D7 need to be plugged in — 26% of this market never appears on the MLS. For those pursuing SFHs above $5M, relationships with agents who have direct seller access are not optional, they are the product. In the condo segment ($1.0M–$2.0M), the market is competitive but more transparent, with a healthy spread of active inventory and a range from Marina studios near $500K to large Pac Heights full-floor condos approaching $3M. Buyers should be ready to move within days at any price point — the 11-day median DOM does not leave room for deliberation.

General — Russian Hill, Nob Hill, Telegraph Hill, North Waterfront

District 8 presents the most complex picture of any district in the city. 40 closings at a median of $1,002,000 mask extraordinary variance: the average closed price of $1,595,000 is driven by two landmark sales — 117 Telegraph Hill Blvd at $7,450,000 (after 192 days on market) and 455 Vallejo St #PH7 at $5,850,000. Strip those out and the core market is a condo-and-TIC dominated segment with strong softening signals. The median DOM of 17 days is the highest among active-market districts, the average DOM of 42 days confirms the skew, and the ATC over-ask rate of just 14% — with a median LTC of 96% — means most properties here are closing below asking. The 12% off-MLS rate reflects selective premium activity, while 46 active listings against only 35 pending (43.2% absorption) indicates a market with meaningful supply overhang.

What This Means for Sellers

D8 is the most challenging district to sell in right now. The 96% median LTC ratio and 86% under-ask rate among ATC-tracked sales signal that buyer leverage exists here, particularly for condos in high-rise buildings where supply is elevated. Sellers need to price aggressively relative to recent comps, not wishful thinking — the market is telling a clear story. Properties that are well-located, renovated, and priced below $1.2M are moving; those in older buildings or at premium prices are sitting. The 4 active listings beyond 30 DOM are a cautionary signal. The rare SFH remains its own market entirely — the $4.6M SFH median reflects genuine scarcity value.

What This Means for Buyers

D8 is the most favorable market for buyers in the city right now. The below-ask median LTC, 42-day average DOM, and high active inventory give buyers real negotiating leverage — a rarity in SF. Well-located Nob Hill and Russian Hill condos in the $800K–$1.2M range can be acquired with reasonable due diligence periods and thoughtful negotiation. TICs with a median of $692,500 offer the lowest price point of any central SF district. Buyers who have been frustrated by overbidding wars in Districts 2, 4, or 5 should look seriously here — the fundamentals of the neighborhoods are strong even as near-term pricing pressure provides an entry window.

General — SoMa, Mission, Potrero Hill, Bernal Heights, South Beach

District 9 is the city's highest-volume market, closing 64 transactions in February — the most of any district — at a median of $1,238,000. The district spans the widest geography and the widest price range in the city: from sub-$1M condos in SoMa to $4.3M SFHs in Bernal Heights. The dominant product is condos (51 of 64 closings, median $1,025,000), with SFHs punching above their weight at a $1,935,000 median. The most significant data point here is the pipeline: 131 active listings — more than any other district by a wide margin — against 66 pending, yielding a 33.5% absorption rate and a 2.05 months of supply. This is the one district in the city where supply and demand are approaching balance. Yet the ATC data tells a nuanced story: 64% of tracked sales closed above ask, with a remarkable 167% LTC maximum (160 Andover St, Bernal Heights), suggesting that desirable SFHs and well-located condos still generate fierce competition even as the district's condo glut moderates overall metrics.

What This Means for Sellers

D9 sellers face the most bifurcated market in the city. SFH and boutique condo sellers in Bernal Heights, Potrero Hill, and the Mission core are operating in a competitive environment with strong buyer demand and overbid potential. Condo sellers in South Beach, Mission Bay, and SoMa high-rises face the inverse: 131 active listings, 18 already past 30 days on market, and a buyer pool that has options. Sellers in the latter category need to be honest about pricing and presentation. The 45-day average DOM (vs. 17-day median) confirms a long tail of stale inventory that is dragging on the district's perception without reflecting its best product.

What This Means for Buyers

D9 is the best district in the city for buyers who want variety, value, and negotiating room — in the right sub-markets. South Beach and Mission Bay high-rise condos are offering the most buyer-favorable conditions in the city: ample inventory, motivated sellers, and flexible terms. At the same time, buyers targeting Bernal Heights SFHs or Mission Victorians need to be as aggressive as anywhere in the city — these properties move fast and often above ask. The district essentially contains two different markets under one label; buyer strategy should be calibrated to the specific sub-market, not the district aggregate.

General — Bayview, Excelsior, Portola, Outer Mission, Visitacion Valley

District 10 closed 36 sales at a median of $1,080,000 — the most affordable district median in the city — dominated by SFHs (30 of 36 closings) with a $742/sqft that represents exceptional value relative to comparable square footage elsewhere in SF. Despite the lower price points, the competitive dynamics are among the most intense in the city: ATC data shows an 83% over-ask rate, a median LTC of 118%, and a maximum of 145% over asking. Properties here are being dramatically underpriced and generating aggressive bidding, particularly for move-in-ready SFHs in Excelsior and Outer Mission. The absorption rate of 56.1% with 32 pending against 25 active reflects healthy, accelerating demand. Zero off-MLS activity confirms this is a fully transparent, MLS-driven market.

What This Means for Sellers

D10 sellers are significantly underestimating their market power. The 83% over-ask rate and 118% median LTC mean that strategic underpricing — listing at $799K–$899K for a home worth $1.1M–$1.3M — consistently delivers the best outcomes. Sellers who try to set a high asking price to "test the market" are leaving money on the table and reducing competitive tension. The data is clear: price low, generate competition, close above market. With zero off-MLS activity, the MLS is the entire market, and marketing quality and agent relationships directly determine offer volume. March seasonality should further accelerate activity.

What This Means for Buyers

D10 is the hardest district in the city to win in right now on a percentage basis. The 83% over-ask rate and 118% median overbid means buyers who anchor to list price will lose repeatedly. Unlike D8 or D9's condo segment, there is no inventory relief here — 25 active listings for a district this size is thin, and the 56% absorption rate means inventory turns over quickly. Buyers need to have their maximum number ready, write clean offers with minimal contingencies, and be comfortable with the reality that their true budget needs to be 15–25% above whatever they see listed. The trade-off is genuine value: at $742/sqft, buyers are getting more square footage per dollar than anywhere else in San Francisco.

General Overview

San Francisco closed February 2026 with 325 sales totaling $637M in volume, a median sale price of $1,464,000, and a median of just 12 days on market — signaling a market that remains decisively active across all price points. With 359 active listings and 294 properties already in contract, the city-wide absorption rate sits at 45%, meaning nearly half of all available supply is under contract at any given moment. Months of Supply citywide hovers around 1.1, well below the 3–4 months that would constitute a balanced market. Off-MLS activity accounted for 30 closings (9.2%), concentrated in Districts 7 and 1, reflecting persistent demand for discretion at the upper end. The median list-to-close ratio across ATC transactions was 104%, with 59% of tracked sales closing above asking price.

What This Means for Sellers

Conditions strongly favor sellers citywide. Inventory is lean, time on market is short, and the majority of properties are attracting multiple offers within the first two weeks. Strategic pricing at or slightly below market value continues to be the most reliable path to competitive offers — overpricing risks sitting, while precision pricing generates bidding wars. The off-MLS channel remains viable for premium properties where privacy and deal certainty outweigh exposure. Sellers entering in March are doing so into a seasonally accelerating market with strong buyer urgency.

What This Means for Buyers

Buyers face a compressed window of opportunity between new listing activity and contract. With 59% of sales closing above asking and a median DOM of just 12 days, offers need to be ready before tours are finished. Cash or strong pre-approval is table stakes. The best-positioned buyers are those who have already identified their target district, understand realistic comp values, and are willing to move within 24–48 hours of a listing hitting the MLS — or better yet, are tapped into the off-MLS network where 30 properties transacted privately this month.