Property Values

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What’s the market doing right now?

2024 has started out with a lot of new energy. Open house traffic and new ratifications of contracts have begun earlier than usual, which would be February. It is literally “early days”, yet the presumed end of the rate hikes, and hopeful rate reductions seems to have energized buyers right now. Inventory is still low, but that is expected to change in the coming weeks. Time will tell.

2023’s rising interest rates created new challenges for buyers, though this were offset in many instances by more affordable offerings. Determined buyers were moving forward, knowing they can refinance in the near future at lower rates. As the year progressed however, with each rate increase and proximity to the holiday season, the market slowed almost to a halt.

2022 had low inventory and climbing interest rates, resulting in fewer transactions overall, yet prices remain stable.

2021 was remarkably active, with new high water marks in ratifications compared to previous years. High traffic continued into the winter and holiday season.

2020 COVID threw all of us a giant curve ball. Given the extreme changes in the way we do business and our daily lives, San Francisco real estate showed remarkable resilience. It was a big surprise that real estate sales in remained very solid, with average increased price of 3%, as people remained steadfast in upgrading their homes in which to ride out the pandemic.