According to NBC Bay Area, about 30% of Bay Area home purchases are now all-cash, up significantly from just a few years ago. The obvious narrative is AI wealth, but the article also points out something I don't think gets talked about enough: family wealth is playing a bigger role too, with parents buying homes in cash for their kids.

Cash doesn't automatically win every deal, but it definitely changes how buyers need to approach this market.

May MLS data just posted for San Francisco:

Single-family median home prices were up 22.6% year-over-year to $2.2M. Homes also sold quickly, averaging 16 days on market versus 23 days a year ago.

Median condo prices were up 4.5% year-over-year to $1.4M, sales volume increased 12.9% and condos sold about two weeks faster than they did a year ago.

The most notable thing to me is that both single-family homes and condos saw more sales and faster market times than a year ago. The condo market in particular seems to be continuing the recovery we’ve been seeing over the past several months.

Data source: MLS via Broker Metrics.

I have a new listing in South Park and was reminded how easy it is to overlook certain parts of the city. Despite being right next to SoMa and downtown, it has a surprisingly calm, human-scale feel. There are brick buildings, a central park, cafés with outdoor seating, and people actually spending time outside instead of just passing through.

It got me wondering what other neighborhoods people think are underrated.

A decade ago, I probably would have said the Inner Richmond or Outer Sunset, but it feels like the secret is out on both. They've become some of the most sought-after neighborhoods in the city for families, and now even Zendaya hangs out on Clement St. They're still great neighborhoods, but I don't think they qualify as underrated anymore.

So what would be your pick today?

April MLS data just posted for San Francisco:

Single-family median home prices were up 21% year-over-year to $2.1M.

What stood out to me most though was the condo market: sales volume jumped 22% and condos sold much faster than they did a year ago. Feels like buyers are getting more comfortable with that segment again after a pretty uneven few years.

Homes overall are also moving quickly right now — average market time for single-family homes was just 17 days in April.

Data source: MLS via Broker Metrics.

Here is the April 2026 real estate data for San Francisco:

Single-family homes

• Median price: $2.1M (+21.4% year-over-year)
• Avg. days on market: 17 (down 7 days)
• Sold: 246 (+7.9%)

Condos

• Median price: $1.4M (+18.1% year-over-year)
• Avg days on market: 32 (down 18 days)
• Sold: 235 (+22.4%)

The condo market continues to look noticeably stronger than it did a year ago. Sales volume was up more than 22% year-over-year and condos sold much faster than they did this time last year, which usually points to buyers feeling more confident again.

Single-family homes are still seeing the strongest price growth overall. A 21.4% year-over-year increase, combined with homes averaging just 17 days on market, suggests competition remains pretty intense for well-located, well-prepared houses — especially with inventory still feeling relatively tight across much of the city.

Data source: MLS via Broker Metrics, April 2026.

As someone who works in S.F. luxury real estate, this article is mostly right — but the frenzy is really concentrated around a very specific type of home: turnkey family homes in top neighborhoods with views, outdoor space, parking and great design.

A lot of these homes are intentionally priced to spark bidding wars. So when something sells for “2x ask,” it doesn’t necessarily mean the market doubled overnight.

That said, the AI wealth effect is absolutely real. A lot of buyers already lived in S.F., sat out the downturn, and are now jumping back in with serious liquidity from secondary sales.

The bigger issue is supply. S.F. barely builds family-sized homes in neighborhoods like Noe Valley, Cow Hollow and Presidio Heights. So when 10 buyers compete for the same great house, prices go crazy fast.