San Francisco 2024 June Real Estate Report

San Francisco 2024 June Real Estate Report

  • Alexander Fromm Lurie
  • 06/18/24

San Francisco Real Estate
June 2024 Report

Report Highlights

  • The 3-month-rolling median house sales price in May, at $1,735,000, hit its
    highest value since mid-2022. The median condo sales price, $1,135,500,
    declined about 1% year over year.

  • Year over year, 2024 YTD home sales volume was up about 12% from
    2023, while luxury home sales of $5 million+ soared 62%.

  • 82% of house sales and 44% of condo sales sold for over asking price in

  • House sales averaged a sales price almost 13% over asking price, while
    condos averaged a sale price about a half percent higher than asking
    price. Both were the highest percentages since mid-2022.

  • Average days on market were the lowest in 12 months.

30-year-loan interest rates hovered around 7% in May and early June, which many
buyers and sellers have clearly come to accept as the new normal. (And an
estimated 30% to 40% of national homebuyers have been paying all cash.) Stock
markets once again hit new all-time highs, with substantial effect on household
wealth. It is not unusual for home listing and sales activity to slow in summer.

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