Typically, this time of year is when real estate sales ramp up. However, new data and accounts from real estate professionals in the Bay Area show some apprehension from buyers.
In San Francisco, in the Pacific Heights neighborhood, Realtors are holding an open house for a three-bedroom, two-bath condominium listing. The condo is renovated, complete with custom finishes and new appliances, for the past few weeks, only neighbors have come to look at the property. Which, Realtors have noted, neighbors are absolutely welcome and encouraged to look at the property. But so far, the condominium hasn’t seen any offers yet.
“People are sort of holding back right now, they are waiting to see what’s going on right now, “the Realtor said.
Several Bay Area real estate professionals said they also are noticing a bit of hesitancy from certain buyers.
Other Realtors in the San Francisco Bay Area. have said in particular, that they have noticed more hesitancy among buyers when it comes to condominiums. But in addition to concerns about homeowner association dues, he said he’s heard buyers with hang-ups about the economy in general.
“Right now, there’s a lot of questions, a lot of buyers are concerned in terms of their cost of ownership on a property, the economic uncertainty with tariffs and all of that, and the stock market being very volatile.” Many buyers are worried about where interest rates are at present.
The Bay Area market is still competitive. The current national rankings have three Bay Area cities in its top ten, with San Francisco coming in at number 2, San Jose at number 4, and Oakland at number 9. All of the cities are in the top 10 list are located in the Bay Area, with Sunnyvale topping the list.
Still, some in the Bay Area said they are holding off on making any big financial decisions for now.
“We’re not sure what’s going to happen in the future — not only in the future, but next week,” another Realtor said.
Prices can also present a concern for buyers. A top real estate survey noted that in March of 2025, 71.2% of homes in San Jose and 61.5% of homes in San Francisco sold above their list price.