According to Compass, August brought the Bay Area’s typical late-summer cooling, with closings declining year over year in 13 of 14 counties and inventory rising across much of the region. Competition remained stronger than last year, however, with the share of homes selling above asking increasing in every county. Single-family homes continued to outperform condos overall, while condo conditions were more uneven as price reductions increased across much of the Bay Area.
San Francisco remained the regional standout. Condo sales rose 11% year over year to 214, the median price climbed 22% to $1.23 million, and active condo listings fell 36%. It was the only county to post meaningful growth in both condo prices and closed sales, reinforcing San Francisco’s divergence from the broader Bay Area even as the market moved into its normal late-summer slowdown.
