The time properties spend on market varies dramatically across the Bay Area, revealing distinct buyer behavior patterns. San Francisco maintains the fastest-moving market, with single-family homes selling in just 13 days (unchanged from last year) and condos moving in 23 days (a significant improvement from 31 days last May). The East Bay also shows quick movement despite inventory increases, with single-family homes averaging just 14 days on market, though this represents a 40% increase from last year.
Silicon Valley single-family homes remain within their long-term averages for market time, but condos are experiencing significant delays, spending 46.15% more days on market in Santa Clara, 111.11% more in Santa Cruz, and 146.15% more in San Mateo Counties compared to last year. The North Bay shows the most consistent pattern of longer market times, with single-family homes spending 5 more days on market in Sonoma County and 2 more days in Marin, Solano, and Napa Counties year-over-year. These patterns suggest that while single-family homes continue to move relatively quickly throughout most of the Bay Area, the condo market is experiencing a fundamental shift toward longer selling periods, particularly in Silicon Valley.
Market dynamics increasingly favor property type over location
The months of supply inventory (MSI) metric reveals a consistent pattern across the Bay Area that transcends regional boundaries: single-family homes generally remain in seller's market territory while condos increasingly favor buyers. San Francisco exemplifies this split with single-family homes at just 1.8 months of supply (down 14.29% year-over-year) while condos sit at 3.8 months (down 22.45% but still favoring buyers). Silicon Valley has largely become a buyer's market, with all three counties showing buyer-favorable condo markets (4 months in San Mateo, 3.3 in Santa Clara, and 5.8 in Santa Cruz). However, Santa Cruz County's single-family market has shifted to favor buyers with 4.3 months of supply, while San Mateo (2 months) and Santa Clara (1.7 months) remain seller's markets.
The East Bay continues its divided pattern with single-family homes at 2.3 months in Alameda and 2.8 months in Contra Costa (seller's markets), while condos favor buyers with 4.8 and 3.9 months respectively. The North Bay shows the most variation, with only Solano County (2.5 months) remaining a seller's market, Marin balanced at exactly 3 months, and Sonoma (3.5 months) and Napa (7 months) firmly in buyer's territory. This pattern suggests that across the Bay Area, single-family homes retain their premium status and seller advantage, while the condo market presents increasingly attractive opportunities for buyers willing to navigate longer search and closing timelines.
