Momentum Continues: San Francisco’s 5+ Unit Market Rebounds in Q1 2025

San Francisco’s multifamily market saw a meaningful uptick in activity in Q1 2025, with 32 five-plus unit apartment buildings sold—the highest number of quarterly sales since mid-2022. This increase in transactional volume signals growing confidence among both buyers and sellers and suggests that well-positioned properties continue to generate strong interest.

The average sale price this quarter was $3.19 million, with properties trading at $462 per square foot and $366,067 per unit. These figures reflect a healthy level of pricing stability, particularly for buildings in desirable neighborhoods with updated units or strong rental profiles. As more buyers return to the market, we expect continued interest in well-located assets throughout the year.

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