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May 8, 2024

SF: May 2024 Market Stats

By Compass

 

April 2024 Market Highlights

  • Home prices, sales volume, luxury sales, the number of new listings, and overbidding - all increased as the market moved deeper into spring.
  • But not every listing sells: Price reductions also rose in April.
  • Preparing, pricing and marketing the home properly still matter.

 

This report also includes breakouts of home values and market conditions in neighborhoods & Realtor districts within the city.

Inflation & interest rates: The general inflation reading for March - released in April - unexpectedly ticked up to 3.5%, significantly higher than the Fed's goal of 2%. This caused mortgage interest rates to climb back above 7% - though remaining well below rates seen last fall. Speculation as to what the Fed may or may not do with its benchmark rate has been shifting for months from optimistic (will cut rates, perhaps several times in 2024) to pessimistic (won't cut rates this year), back and forth, with the release of each new economic indicator. For the time being, the Fed has been standing pat, as it has since August. In any case, buyers and sellers seem to be taking the recent rise in interest rates in stride, and moving forward with life plans.

San Francisco HOUSE Price Trends since 1990 Monthly Median House Sales Prices, 3-Month RollingSan Francisco: Year-over-Year House Appreciation Rates Y-o-Y Percentage Change in Quarterly Median HOUSE Sales Price*San Francisco CONDO Price Trends since 2005 Median Condo Sales Price, 3-Month RollingSan Francisco CONDO Prices: Downtown vs. Non-Downtown 3-Month-Rolling, Median Condo Sales Prices since 2005*San Francisco Value Trends since 2005 3-Month Rolling, Median Dollar per Square Foot Values*New Listings Coming on Market San Francisco Market Dynamics & SeasonalitySan Francisco Homes Market Active & Coming-Soon Listings on 1st of Month*Listings Accepting Offers (Going into Contract) San Francisco Market Dynamics & SeasonalityMonthly Home Sales Volume San Francisco Market Dynamics & SeasonalitySan Francisco Luxury Home Sales* Homes Selling for $5 Million+San Francisco House Prices Median HOUSE Sales Prices - Selected Neighborhoods*San Francisco House Values Median HOUSE $/Sq.Ft. Values - Selected Neighborhoods*San Francisco Median House Sizes Median HOUSE Square Footage - Selected Neighborhoods*San Francisco Condo Prices Median CONDO Sales Prices - Selected Neighborhoods*San Francisco Condo Values Median CONDO $/Sq.Ft. Values - Selected Neighborhoods*San Francisco Condo Sizes Median CONDO Square Footage - Selected Neighborhoods*Average Days on Market - Speed of Sale San Francisco Market Dynamics & SeasonalityOverbidding List Prices in San Francisco Percentage of Home Sales Closing over List PriceAverage Sales Price to Original List Price Percentage San Francisco Over/Under Bidding: Market Dynamics & SeasonalityPrice Reductions on Active Listings San Francisco Market Dynamics & SeasonalityHouse Sales Volumes & Median Sales Prices by Realtor District San Francisco, 12 Months House Sales*Average Days on Market to Acceptance of Offer San Francisco HOUSE Markets by Realtor District*Percentage of Listings Selling Over List Price San Francisco HOUSE Markets by Realtor District*Average Overbid & Underbid Percentages San Francisco HOUSE Markets by Realtor District*Condo Sales Volumes & Median Sales Prices by Realtor District San Francisco, 12 Months Condo Sales*Average Days on Market to Acceptance of Offer Major San Francisco CONDO Markets by Realtor District*Percentage of Listings Selling Over List Price Major San Francisco CONDO Markets by Realtor District*Average Overbid & Underbid Percentages Major San Francisco CONDO Markets by Realtor District*

If you have any questions or want to talk more about local market statistics, please don't hesitate to reach out. I'd be happy to grab a coffee or chat via phone. 

Thank you,
Shannon

Want to learn more about Bay Area market trends?

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