Housing market report for August 2021: Bay Area

houses near road with palm trees

Updated September 8, 2021

August 2021 highlights

The Bay Area is beginning to see seasonal slowdown in the market with median sale price for single family homes dropping across the region, but homes continue to sell at a fast pace. 

  • Competition cooled slightly in San Francisco, yet homes sold quickly. Median days on market for San Francisco single family homes dropped 36% month over month, while condos dropped a huge 60%. Generally, this quickening would indicate increased competition. However, sale-to-list price ratio dropped slightly at the same time, showing that competition isn’t driving buyers to pay more. What happens in September will be telling. 
  • The East Bay and South Bay each saw early signs of slowing. Single family home sale-to-list prices fell month over month while median days on market held steady. In the South Bay, 9% more homes were listed than in July and 8% more went pending; the homes that entered the market were sold at a similar pace to peak months. 
  • In the Peninsula, more homes were listed. August saw 43% more single family homes and 67% more condos listed than July, each coming in at multi-year record numbers of listings. August 2020 also saw the highest number of single family homes for the year.

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.

Real estate competition report for the East Bay
Real estate competition report for the South Bay

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Number of properties pending sale





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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