Marks Realty Group, Compass

January 2024 Marin County & San Francisco Real Estate Market Reports

In the last 2 months of 2023, the average, weekly, 30-year mortgage interest rate dropped from 7.79% to 6.61%. With the fall in inflation this past year, the Fed is widely expected to begin dropping its benchmark rate, probably in multiple steps, in 2024. The consensus forecast among analysts is for further declines in mortgage interest rates.

After its end-of-year rally, the S&P Index was up 25% and the Nasdaq up 45% in 2023 (though it has ticked down in early 2024). This plays a major role in Bay Area household wealth.

On an annual basis, the 2023 median house sales price was down 4% from 2022 (the peak of the market), while on a quarterly basis, the Q4 price was up 4% year-over-year.

With interest rates falling, and economic conditions and consumer confidence rebounding, the big question is how much do rates need to fall for buyers and sellers to start participating in the market in normal numbers again? Right now, the direction is trending positive.

Reach out to Jonathan Marks if you have any questions, I am here to help you.

 

Chart of Marin County median home sale prices, 1990–2023, peaking in 2022 before declining about 4%.

Chart of San Francisco median house prices from 1993 to 2023, peaking at $1.825 million in 2021.

Bar chart of Marin County quarterly median house prices, 2015–2023, peaking at $2 million in Q2 2022.

Chart of Marin County median condo prices from 2005–2023, peaking at $750,000 in 2022 before declining.

San Francisco condo price chart, with annual median sales prices from 1993 to 2023 and a 2021 peak.

Chart of Marin County new listings by year, 2005–2023, with 2023 at a decades-long low.

Chart of San Francisco annual new listings from 2005 to 2023, with 2023 at a decades-low.

Chart of Marin County annual home sales from 2005–2023, showing a decline from 3,610 in 2021 to 2,220 in 2023.

Chart of San Francisco home sales from 2005 to 2023, with teal bars and annotations for major market periods.

Chart of Marin County luxury home sales from 2005 to 2023, with gold bars and a green line.

Chart of San Francisco luxury home sales from 2005–2023, with gold bars for $5 million-plus sales and a green line for $10 million-plus sales.

Chart of 2023 Marin luxury home sales by community and price range, with Mill Valley leading at $4 million and above.

Marin County luxury home market infographic comparing 2023 top sales, active listings, and sales in selected towns.

San Francisco luxury home market infographic comparing top 2023 sales and active or pending listings by neighborhood.

Pie chart of Marin County 2023 home sales by price segment, with property-type shares and market notes.

Chart of San Francisco 2023 home sales by price segment, with the largest shares under $1.5 million.

Marin County home listing chart, showing monthly active listings from February 2022 through January 2024.

Bar chart of San Francisco home listings, showing 752 active listings on January 1, 2024.

Chart of Marin County listings going into contract from January 2020 through December 2023.

Chart of San Francisco listings going into contract, showing seasonal peaks in spring and lower activity in 2023.

Marin County chart of annual sale-to-list price percentages from 2005 to 2023, highlighting market periods.

San Francisco house and condo sale-to-list price percentages, 2005–2023, with market-era annotations.

Marin County median days on market chart, 2005–2023, with yearly values and historical market-period annotations.

Chart comparing average days on market for San Francisco condo and house sales from 2005 to 2023.

Marin County home price trends chart comparing annual median sale prices in four cities, 2012–2023.

Bay Area median house values by county for the second half of 2023, comparing two home size categories.

Chart comparing Bay Area county home values by bedroom and bath count for the second half of 2023.

Bay Area second-half 2023 condo and townhouse median values by county, with prices, square footage, and price per square foot.

CLICK HERE TO SEE THE FULL MARIN COUNTY REPORT

CLICK HERE TO SEE THE FULL SAN FRANCISCO REPORT

ABOUT THE AUTHOR


Marks Realty Group is more than just a top-producing real estate team in Marin County—we’re your trusted neighbors, friends, and advocates. Known for combining market expertise with a client-first approach, our team is dedicated to helping you buy or sell your home with discretion, respect, and care. We listen like friends and deliver results like seasoned professionals, guiding you through every step of the process and staying by your side long after the deal is done. With Marks Realty Group, you’re not just a client—you’re part of our community.

Work With Us

You can count on us to help you sell and help you buy, and be there for you every step of the way before and well after your deal is done. So, why us? Because working with us, you are more than a client in a transaction; you become a friend for life.