Potrero Hill wrapped up 2024 with a fascinating mix of trends in both its single-family and condo markets. While prices fluctuated, buyer demand remained strong—proof that this neighborhood, known for its sunny weather, panoramic views, and easy access to downtown, continues to be one of San Francisco’s most desirable places to call home.
Single-Family Homes: More Sales, Slight Price Adjustments
The single-family home market in Potrero Hill saw increased activity, even as prices adjusted slightly. The year-to-date median sales price settled at $1,775,000, reflecting a 9.2% dip compared to 2023. However, other indicators suggest the market remains active and engaged:
- New listings rose by 17.9%
- Closed sales increased by 10.3%
- Days on market improved slightly, dropping from 37 to 35 days
December’s numbers were particularly volatile due to the small sample size—only three homes sold compared to just one the year before. Still, one key takeaway is that a third of these homes sold above asking price, with sellers receiving an average of 105.5% of their list price.
Condos: A Year of Strong Growth
While single-family homes saw price adjustments, the Potrero Hill condo market surged ahead:
- Median sales price increased 13% to $1,040,000
- Sales volume jumped 25.9%
- Pending sales rose 27.1%
- New listings held steady, up just 0.9%
December brought a bit of a seasonal slowdown, with properties sitting on the market longer (45 days vs. 19 days last year). However, inventory tightened significantly, with the months of supply dropping from 3.1 to 1.6, signaling continued buyer interest.
Key Takeaways from 2024
Several major themes emerged from this year’s market data:
- More Sales Activity – Buyers were engaged, with transactions increasing in both market segments.
- Condos Gaining Value – Unlike single-family homes, condos saw prices rise—a sign of strong demand.
- Competitive Bidding Continues – Though slightly lower than in 2023, 62.5% of single-family homes and 41.1% of condos still sold above asking price.
What to Expect in 2025
As we head into the new year, Potrero Hill’s market appears to be stabilizing:
- For buyers: Single-family home prices have adjusted, making it a potential window of opportunity, while condo buyers will need to be strategic as prices continue to climb.
- For sellers: Demand remains solid, but accurate pricing is key—especially for single-family homes, where the market is more price-sensitive.
With inventory tightening and sales activity increasing, 2025 is shaping up to be a competitive but balanced year for Potrero Hill real estate.
Considering buying or selling in Potrero Hill? As your expert San Francisco realtor, I’m here to help you navigate this evolving market with a strategy tailored to your goals.
Data source: San Francisco Association of REALTORS® MLS, December 2024 Local Market Update.