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Market Intelligence · CA / San Francisco

San Francisco, CA 94121 Housing Market

In San Francisco's 94121 ZIP code, the typical home value is $1,862,908, up 20.1% over the past year as of September 2026. The median list price stands at $1,893,472, and homes are spending a median of 31 days on the market.

Updated September 2026Median value$1863K

The median home value in San Francisco, CA 94121 is $1.86M as of September 2026, up 20.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Lic #01923750 CA

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Typical 94121 range

$1.71M to $2.01M

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+20.1% over 12 months

Typical home value in 94121 over the last 12 months: $1.55M in Sep 2025 to $1.86M in Sep 2026 (+20.1%).

Sep 2025$1.55M

Sep 2026$1.86M

The numbers

What is the 94121 housing market like?

Typical home value

$1.86M

Up20.1%YoY

Median list price

$1.89M

Up8.6%MoM

Days on market

31

Down22.5%MoM

Homes for sale

25

Up92.3%MoM

Price cuts

0.0%

New listings

24

Down14.3%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

94121 housing market forecast 2027

+3.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 94121 to rise 3.1% by September 2027.

Over the 12 months through September 2026, typical home values in 94121 rose 20.1%, per the Zillow Home Value Index.

Will home prices drop in 94121?

Zillow's forecast does not call for a drop: it expects typical home values in 94121 to rise 3.1% by September 2027, after a 20.1% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 94121 home prices compare?

  • 94121$1,862,908
  • San Francisco$1,406,332
  • California$692,765
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (San Francisco: 26 ZIPs; California: 1,543 ZIPs; United States: 26,262 ZIPs).

Context

The 94121 market is moving quickly by most standards. As of September 2026, there are 25 homes for sale and 24 new listings, so fresh supply is arriving at nearly the same pace as the existing stock. The median list price is $1,893,472, slightly above the typical home value of $1,862,908, which has climbed 20.1% over the past year. Not a single listing shows a price cut, with the share sitting at 0.0%, and homes are selling in a median of 31 days. For a seller, this is a market where demand is absorbing what comes on, and pricing close to market value is likely to be rewarded.

Monthly payment

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20% · $372,582

Common questions

What people ask us.

How much is a home in 94121 worth?

The typical home value in 94121 is $1,862,908, up 20.1% over the past year as of September 2026. The median list price is $1,893,472.

How fast are homes selling in 94121?

Homes in 94121 are spending a median of 31 days on the market as of September 2026. The share of listings with a price cut is 0.0%.

How much competition is there for sellers in 94121?

As of September 2026, there are 25 homes for sale in 94121, with 24 new listings hitting the market. That is a relatively thin supply for a San Francisco ZIP code.

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