December Market Update: Bay Area

vehicles near houses at daytime

Key takeaways for the month

  • The San Francisco market has been trending toward normalcy and December continues this trend. The number of single family homes listed decreased month-over-month while days on market increased, demonstrating an expected end-of-year slowdown. However, there are still homes available: listing volume was similar year over year as December 2020 brought 74 single family home listings to the market while December 2019 brought 88. With median list prices for single family homes dropping 13% month-over-month and 16% year-over-year, it may be a good time to buy. 
  • Condos in San Francisco saw a sale-to-list price ratio 3% lower than December 2019, maintaining a gap that we’ve seen since May. There is still condo volume on the market, but the significant drop in sale-to-list price ratio means competition is much lower. 
  • The East Bay has been a hot market this year. While still active, December brought a 10% drop in median sale price for single family homes. Likewise, median days on market increased 20% from 15 to 18 days. Meanwhile, owners who may not have sold in a normal year continued to list amid the area’s recent activity: year over year, December saw 114% more single family homes listed. Sellers aren’t getting the same prices they may have in recent months, but the numbers are still high year-over-year, so selling is an appealing option. 
  • Looking at sale-to-list price ratio for single family homes in the South Bay, we see that the ratio has been increasing month-over-month since September, when the market normally cools, ending the year at 102.5%. This is a result of the later peak season in 2020: while the December ratio is a significant 3.5% higher than the December 2019 ratio, it is on par with the ratio of the 2019 peak in April and May. 

Competition snapshot

Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.

Sale Price

Based on date the property sold.

List Price

Based on date the property was listed.

Sale Price Compared to List Price

Based on date the property sold.

Days on Market

Based on the number of days between the list date and the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Listed

Based on date the property was listed.

Number of Properties Pending Sale

Based on the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Sold

Based on date the property sold.


San Francisco includes data for the city of San Francisco.

East Bay includes data for Oakland and Berkeley.

South Bay includes data for San Jose, Santa Clara, and Sunnyvale.

Peninsula includes data for San Mateo, Foster City, Belmont, and San Carlos.


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