So…what’s it gonna be for 2024? Has the San Francisco real estate market found bottom? I do believe it has.
Are the sellers who’ve been sitting and waiting to sell going to finally pull the trigger and give us the inventory we need? I sure as heck hope so.
Follow this link for the first market report of 2024, which gives a good picture of 2023, and read below for the San Francisco details. If you’d like details on Marin County or Peninsula / Silicon Valley just hit us up and we can get dem for you.
Quick Take:
- The median single-family home price rose from November to December, up 7.1%, while condo prices declined 7.1%, coincidentally. Year over year, prices appreciated, up 3.1% for single-family homes and 6.7% for condos.
- Active listings in San Francisco fell 28% month over month. Both single-family home and condo inventory hit record lows, as new listings declined significantly.
- Months of Supply Inventory declined significantly in December, as sales outpaced new listings, indicating the market firmly favors sellers as we enter the new year.
Reminder: If you want the FULL report, follow this link. There is a lot more data and words to get your mind spinning. Or, give us a shout, we’ll walk you through it, and advise you on the correct path for you to buy or sell.