San Francisco Real Estate Report - January 2025
In 2024, the median house sales price increased year over year. The numbers of new listings and sales rose from 2023, but volumes remained well below long-term norms. Fueled by rising stock markets, luxury home sales strongly outperformed the general market. There was a slight reduction in overbidding statistics, and, on average, listings took somewhat longer to sell. Details follow within this report.
Macroeconomically, there were quite a few ups and downs in 2024. The inflation rate dropped from 3.1% to 2.7%, a welcome decline, but not as large and consistent as hoped. In September, the Fed reduced its benchmark rate for the first time in 4 years, followed by 2 more cuts in November and December, but, confounding expectations, interest rates rose, ending the year higher than when it began. The Fed also released a tentative forecast of only 2 small rate reductions in 2025, but the Fed often alters its future “guidance” depending on economic developments. Despite significant volatility, stock markets saw very substantial appreciation in 2024, boosting household wealth, especially for the more affluent. Consumer confidence rose in the second half of the year to end 6% higher than a year earlier and seems poised to improve further
SAN FRANCISCO NEIGHBORHOOD MEDIAN HOME SALES PRICE MAP - COMPASS
This map reflects median home sales prices and dollar per square foot values in San Francisco neighborhoods for sales reported in 2024 by mid-December 2024 to the NORCAL MLS® ALLIANCE. (New sales are reported constantly, which often change median home values.)
Click on icons to pull up neighborhood median home sales prices. Click on the X to close the window for the specific neighborhood.
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