Noe Valley ran out of houses in July. Six came on the market, two were still for sale at the end of the month, and months supply hit the lowest level in our ten-year data.
Prices came down off the spring peak but are still well above last year. Condos went the other way, with more listings and a full sweep of over-asking sales.
Here is what the numbers looked like in July.
Data as of August 14, 2026, from the San Francisco MLS. This report covers July 2026. Some recent-month figures may still be updated as late sales are reported.
Single-family homes are the bigger market here, so we lead with them. Roughly ten sell in a typical month, against about five condos.
Supply was the whole picture in July. Only 6 new listings came on the market, the fewest since December, and just 2 homes were still actively for sale at the end of the month. Outside of two Decembers, when almost nothing is ever listed, we have not seen a count that low in ten years of this data.
Months supply landed at 0.3 on a three-month basis. Months supply estimates how long it would take to sell everything currently on the market at the current pace of sales. Lower means a tighter, more competitive market. That 0.3 is the lowest reading in our ten-year data for Noe Valley.
Sales held up anyway. Eight homes closed in July, and the three-month average is 12.7, up about 15% from the same three months last year. That is worth pausing on, because it runs against the supply numbers. Buyers are clearing out inventory faster than sellers are replacing it.
Pending sales were only 2 in July, down from 10 in June. That looks alarming and mostly is not. With 6 homes listed all month and 2 left over, there was very little available to go under contract. July 2025 also came in at 2 pendings. Pending means the seller accepted an offer. Closed means the sale finished. Closings usually lag pendings by about a month because of escrow, so the thin July pendings will show up in next month's closed count.
On price, the three-month median is $3,131,250 across 38 closed sales from May through July. The median is the middle value. Half the sales were above it, half below. We use it instead of the average because one very expensive (or very cheap) sale can't throw it off. That is up about 21% from the same period last year, and down from the $4,425,000 reading in March and April that we flagged in the spring as the highest in our ten-year data by a wide margin.
So prices are cooling from an extraordinary peak while still sitting well above 2025. Both things are true at once. July's own median was $3,337,500 across 8 sales, which is a thin month and worth treating as preliminary.
Competition eased a little from June. Last month we reported that 92.7% of Noe Valley homes had sold above asking over three months and that the typical sale finished at 124% of its original list price, both records in this data. July brought those to 89.5% and 122.8%. Still extremely strong, just off the top. Homes took a median of 10 days to go under contract over the three months, against 20 days a year ago.
| Metric | July 2026 | 3-month | vs. year ago* |
|---|---|---|---|
| New listings | 6 | 9.7 avg | −9% |
| Active listings | 2 | 3.0 avg | −78% |
| Pending sales | 2 | 8.7 avg | −10% |
| Closed sales | 8 | 12.7 avg | +15% |
| Median sale price (38 closed sales) | $3,337,500 | $3,131,250 | +21% |
| % sold over list | 75.0% | 89.5% | +16.8 pts |
| % of original price | 119.0% | 122.8% | +20.2 pts |
| Days on market | 12 | 10 | −10 days |
| Months supply | 0.2 | 0.3 | −79% |
A couple of the terms above, briefly. % sold over list is the share of homes that sold above their asking price. % of original price compares the final sale price to the very first asking price, so it also captures any price cuts along the way. Days on market is how long a typical listing took to go from hitting the market to accepting an offer.
Condos are the smaller market here, around five sales a month, so we lead with three-month figures throughout and treat single months carefully.
Listings came back. After June recorded zero new condo listings, which we noted last month was unheard of outside winter, 6 came on the market in July. Five were still available at the end of the month.
Closings went the other way. Only 2 condos closed in July, the fewest for any July in our ten-year data. Two sales is far too small a sample to read a monthly median from, so we are not publishing one. The three-month window covering May through July holds 15 sales, which is a reasonable basis.
On that three-month basis the median is $1,685,000, up about 11% from the same period last year and up from the $1,640,000 we reported last month.
Competition is the number that stands out. Every one of those 15 condo sales from May through July closed above its asking price. That is 100%, and the only other time this data has shown a full three-month sweep in Noe Valley condos was September 2017. The typical sale finished at 114.4% of its original list price, and homes took a median of 13 days to go under contract.
Months supply for condos is 1.0, down from 1.3 a year ago and from the 1.2 we reported last month. Condos here are less tight than single-family homes, which at 0.3 months are in a different league, but the gap narrowed again in July.
| Metric | July 2026 | 3-month | vs. year ago* |
|---|---|---|---|
| New listings | 6 | 4.3 avg | −43% |
| Active listings | 5 | 5.7 avg | −26% |
| Pending sales | 5 | 5.3 avg | −24% |
| Closed sales | 2 | 5.0 avg | −38% |
| Median sale price (15 closed sales) | n/a | $1,685,000 | +11% |
| % sold over list | n/a | 100% | +16.7 pts |
| % of original price | n/a | 114.4% | +8.1 pts |
| Days on market | n/a | 13 | −1 day |
| Months supply | 0.9 | 1.0 | −23% |
Market data is useful. We genuinely enjoy this stuff. But it is one part of a much bigger picture, and it only goes so far.
Perfectly timing the market is something that really only happens in hindsight. What matters far more is your own situation: where you are in your life, what you are trying to do next, and what your options actually look like right now. A market with two homes for sale means something different to an owner weighing a sale than it does to a buyer who has been looking since spring.
That is the work we do with buyers and sellers every day, and it is why we would rather talk with you about your specifics than hand you a chart and wish you luck.
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Noe Valley market report by Danielle Lazier - Vivre Real Estate, top San Francisco Realtors serving Noe Valley and the wider Bay Area since 2002. Data from SFARMLS. InfoSparks © 2026 ShowingTime Plus, LLC. Danielle Lazier, DRE #01340326.
