The Lurie Group
San Francisco 2024 May Real Estate Report

San Francisco 2024 May Real Estate Report

  • Alexander Lurie
  • May 14, 2024

San Francisco Real Estate
May 2024 Report

April 2024 Market Highlights

Home prices, sales volume, luxury sales, the number of new listings,
and overbidding – all increased as the market moved deeper into spring.

But not every listing sells: Price reductions also rose in April.
Preparing, pricing and marketing the home properly still matter.

This report also includes breakouts of home values and market
conditions in neighborhoods & Realtor districts within the city.

Inflation & interest rates: The general inflation reading for March – released in April – unexpectedly
ticked up to 3.5%, significantly higher than the Fed’s goal of 2%. This caused mortgage interest rates
to climb back above 7% – though remaining well below rates seen last fall. Speculation as to what
the Fed may or may not do with its benchmark rate has been shifting for months from optimistic
(will cut rates, perhaps several times in 2024) to pessimistic (won’t cut rates this year), back and
forth, with the release of each new economic indicator. For the time being, the Fed has been
standing pat, as it has since August. In any case, buyers and sellers seem to be taking the recent rise
in interest rates in stride, and moving forward with life plans.

April 2024 San Francisco market highlights: sales and prices rose, while price reductions and mortgage rates also increased.

San Francisco median house sale price chart, 1990–April 2024, with a 2022 peak and 9.5% annual increase noted.

Chart of San Francisco quarterly house price appreciation, falling to -20% in Q2 2023 before rebounding to 8%.

Bar chart of San Francisco median condo prices, rising to a 2022 peak near $1.3 million and updated through April 2024.

Chart comparing San Francisco downtown and non-downtown median condo sale prices from 2005 through April 2024.

Chart of San Francisco condo and house median price-per-square-foot trends, 2005–April 2024.

Chart of San Francisco new listings from December 2019 to April 2024, with seasonal peaks and an April 2024 increase.

San Francisco active and coming-soon listing counts, February 2022–May 2024; May 2024 shows 1,205 listings.

Chart of San Francisco listings going into contract, August 2021–April 2024, with spring 2024 at its highest since mid-2022.

San Francisco monthly home sales chart through April 2024, with sales up 22% year over year.

Chart of San Francisco luxury home sales over $5 million from 2020 to April 2024.

San Francisco median house prices by neighborhood, from $6.65 million in Cow Hollow to $910,000 in Bayview.

Chart comparing median house prices per square foot across selected San Francisco neighborhoods, from Presidio Heights to Bayview.

Chart comparing median house sizes across San Francisco neighborhoods, from 4,725 square feet in Presidio Heights to 1,362 in Excelsior/Visitacion Valley.

Bar chart comparing median condo sale prices across selected San Francisco neighborhoods, from Presidio Heights to Van Ness/Civic Center.

Bar chart of median San Francisco condo prices per square foot across selected neighborhoods, from $1,234 in Presidio Heights to $783 in SoMa.

Chart comparing median condo square footage across selected San Francisco neighborhoods, from Presidio Heights to Van Ness/Civic Center.

San Francisco house and condo days-on-market trends, January 2020–April 2024.

Chart of San Francisco home sales closing over list price, with a 55% overall rate in April 2024.

San Francisco house and condo sale-to-list price trends, January 2020–April 2024.

Chart of San Francisco listing price reductions from 2018 to April 2024, with October peaks and a pandemic marker.

San Francisco infographic comparing 12-month house sales counts and median prices across realtor districts.

Bar chart comparing days on market across San Francisco house districts, ranging from 23 to 36 days.

San Francisco chart showing listings sold over asking price by district, ranging from 79% to 33%.

Chart of San Francisco house-market overbids by district, led by Sunset-Parkside-Golden Gate Heights at 17%.

San Francisco condo sales chart by Realtor district, with red bars showing sales counts and labels listing median prices.

Chart compares condo days on market across San Francisco districts, from 75 days in South Beach-SoMa-Mission Bay to 27 in three districts.

Chart of San Francisco condo listings sold over list price by district, ranging from 66% in Noe and nearby neighborhoods to 16% in Van Ness.

San Francisco condo overbid chart: Noe and nearby districts lead at 5.5%; three districts are below list price.

Real estate report notes explain statistics, data limitations, price-per-square-foot calculations, and legal disclaimers.







Alexander Lurie smiling in a dark blazer and striped shirt.

Meet Alexander

Meet Alexander Lurie

Alexander Fromm Lurie is a highly accomplished San Francisco real estate professional and the leader of The Lurie Group, a top-performing team recognized among the top 1% of agents in the city. With over a decade of experience in the real estate industry and California DRE License #01952347, Alexander has built a reputation for delivering exceptional results, with hundreds of homes sold and over $1 billion in total sales volume. Born and raised in San Francisco, he brings deep local expertise, generational knowledge of the Bay Area, and a strong connection to the community into every client relationship. His approach goes beyond transactions—focusing on helping clients build meaningful connections to neighborhoods, schools, and local culture while navigating the buying or selling process with confidence.

Alexander’s background in management consulting and entrepreneurship further strengthens his strategic approach to real estate, allowing him to provide clients with a competitive edge in pricing, negotiation, and marketing. Known for his integrity, discretion, and client-first mindset, he continues to be a trusted advisor for buyers, sellers, and investors across San Francisco’s dynamic real estate market.

Alexander Lurie

Founder | Real Estate Advisor
LICENSE NUMBER
01952347
ADDRESS
629 Divisadero Ave, San Francisco, CA 94117

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