18% of sellers in San Francisco are taking a loss on their House

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Nearly one of five (17.8%) homes that sold in San Francisco during the three months ending February 29 sold at a loss. That’s comparable with the 17.9% share hit during the three months ending January 31, which was the highest in 11 years.

That’s a higher share than any other metro, and it’s more than four times the national share of 4.3%. The national share of sellers taking a loss is the highest it has been since May 2021, but the share has been fairly stable over the past two years, hovering between 2% and 4.5%.

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In San Francisco, the typical homeowner who sold at a loss parted with their home for $155,500 less than they bought it for, the largest dollar loss of any major metro. Nationwide, the median loss was $39,912.

This is according to a Redfin analysis of county records and MLS data across the 50 most populous U.S. metros. To be included in this analysis, a home must have been owned by the same party for at least nine months leading up to the sale. When we say “sold at a loss,”, we mean the seller sold the home for less than they bought it for.

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San Francisco’s median sale price peaked at $1.66 million in April 2022, and has since fallen 15% ($250,000) to $1.41 million as of February. The typical person who bought in San Francisco at nearly any point in 2021 or 2022, when the housing market was red hot due to ultra-low mortgage rates, would have taken a loss if they sold during the first few months of this year.

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