SF Condo Market in 2025

[Greg Miller]

Hi All, 

I've got a nice condo in Mission Dolores neighborhood that ever since the Pandemic we have long-term rented. Prior to pandemic we used it a lot for ourselves and did AirBNB which was a gold mine for the 90 days that you are allowed to do it in the city. Lease is coming up for tenant and we would love to sell the property, but just don't think we will be able to get what we payed for it back in the summer of 2018.  Any insights from this group who knows this market on what is expected to happen with SF condo market in 2025? I believe CA market in general is expected to increase by 4-5% but SF is unique. Thank goodness we are getting a new mayor. Appreciate any insights. 

Greg

[Jose Rodriguez]

Hi Greg, Im Jose a San Francisco Realtor. Would love to chat with you about your unit,the market, and what your goals are. 

[Wilson Lau]

Hey @Greg Miller, you are right that the SF market is in a unique market, especially for condos. Days on market is about 2 months, slightly better than earlier this year but relatively speaking, it's still a more balanced market compared to rest of the Bay Area. I would say the data is representative of the Dolores neighborhood as well. Curious what makes you sell since you said Airbnb is doing great there?

[Greg Miller]

Hi Wilson Lau, 

Thanks for the information and your perspective. SF has a limit of 90 days per years for AirBNB in the city otherwise I would keep it and short term it all year long. Just had my current LT tenant commit to another year so we will reevaluate again towards the end of 2025.

Greg

[Wilson Lau]

Quote from @Greg Miller:

Hi Wilson Lau, 

Thanks for the information and your perspective. SF has a limit of 90 days per years for AirBNB in the city otherwise I would keep it and short term it all year long. Just had my current LT tenant commit to another year so we will reevaluate again towards the end of 2025.

Greg

I was thinking you can alternate between STR and MTR to maximize the ROI. It's a nice area where it's close to hospitals and large corporates, yet not right in the downtown area.