According to Compass, in 2024, Marin County and San Francisco saw mixed real estate trends. Median house prices rose year-over-year but remained below the pandemic-era highs. Luxury home sales, fueled by stock market gains, outperformed the general market, while Marin condo prices dipped slightly, and San Francisco condos saw modest growth.
New listings and sales increased from 2023 but stayed below historical averages. Overbidding softened in Marin but rose in San Francisco, where listings sold faster on average.
Macroeconomic shifts included inflation easing to 2.7% and the Federal Reserve reducing its benchmark rate, though interest rates ended higher than they began. Stock markets saw strong gains, boosting consumer confidence and household wealth, especially among affluent buyers.
Seasonal patterns persisted, with December’s slowdown expected to give way to a vibrant spring market. Renewed optimism at the start of the year often drives real estate activity, setting the stage for 2025.
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Source: Compass
