An elegant white clock featuring 'DANIELLE LAZIER REAL ESTATE LOGO' on a sleek black background.Vivre Real Estate logo

2024 Real Estate Outlook for the San Francisco Bay Area Market

January 4, 2024

Our 2024 Real Estate Predictions for San Francisco post is up on VivreRealEstate.com! Every year since the early aughts, when Danielle started her SFhotlist blog, her annual "Real Estate Predictions" have been a hit.

Watch the video and read below for a quick summary. Click here to read the full 2024 SF Real Estate Predictions post.

SF Bay Area Real Estate Predictions for 2024

Report Card: How were our 2023 Predictions?

What did last year's market teach us, and how accurate were our predictions? In our 2023 Predictions blog, we forecast mortgage rates to fall slightly throughout the year and home prices to be a mixed bag in San Francisco.

Let's call it a B, maybe B+? We were right about home prices. Those were all over the place in San Francisco and parts of the Bay Area. In SF, single-family homes appreciated while condos varied widely. Even among houses, the appreciation was different from one neighborhood to the next.

On the other hand, we were dead wrong about mortgage rates! While most economists expected the US economy to slow, perhaps tipping into recession and prompting interest-rate decreases, the economy stayed relatively strong. In turn, mortgage rates just kept rising throughout the year, reaching a peak in Oct/Nov.

2024 Real Estate Predictions for the SF Bay Area

What's next for SF Bay Area homeowners, hopeful homebuyers and prospective home sellers in 2024? We cover a few key data points in our 2024 Predictions blog. Here's a quick summary and what it means for you.

Mortgage Rates Trending Down

Industry forecasts predict a slow decline in mortgage rates throughout 2024. How will this affect your purchasing power and investment strategies? Consider how even a small percentage change can significantly impact your long-term financial planning.

SF Home Sales and Home Prices Increasing

As mortgage rates improve and more sellers and buyers alike entering the market, we predict home sales to increase in 2024. San Francisco home prices will again be a mixed bag, but as buyers get better purchasing power with rates decreasing, we predict home prices to also increase in 2024 overall.

Food for Thought: What does this mean for the availability and pricing of homes in your desired San Francisco neighborhood? How can you strategize to find the best deal in a competitive market? If you have questions about your personal situation, send us a message here.

Commissions and Legal Challenges in the Real Estate Industry

Recent discussions and lawsuits surrounding real estate commissions have brought these issues to the forefront. But what does this mean for you as a buyer or seller?

Traditionally, real estate commissions are paid by the seller and are split between the buyer's and seller's agents. However, legal challenges and consumer advocacy groups are questioning this model, advocating for more transparency and potentially reshaping who pays the commission and how much.

We are happy to leave this debate to the lawyers and pundits, but we did share a bit more of our industry-insider perspective on the full Vivre blog.

Practical Advice for 2024

Buying or selling a home in SF (or both), here are a few questions to get your real estate juices flowing and help you plan for the year.

  • Stay Informed: Market conditions can change rapidly. How will you keep up-to-date with the latest trends and predictions?
  • Consult Experts: Real estate decisions are significant. Have you identified a trusted advisor to help navigate the complexities of the Bay Area market?
  • Plan Ahead: With potential changes in mortgage rates and market dynamics, what steps can you take today to prepare for tomorrow?

your 2024 Real Estate Journey

As you contemplate your next steps in SF Bay Area real estate, consider how these predictions and trends might influence your decisions. What are your goals, and how will you adapt your strategy to meet the evolving landscape?

For a deeper dive into the 2024 San Francisco Bay Area real estate predictions, read our full 2024 Predictions blog at Vivre Real Estate. And when you feel ready to discuss your personal situation and goals in greater detail, reach out to schedule a no-pressure consultation and we'll talk about all your options. Click here to contact us.

Lastly, stay up to date with all our latest articles, events and more by signing up to the Vivre Real Estate newsletter! Every edition is personally curated by our team with our latest perspectives, interesting stories, SF culture and more—no spam or games. Sign up below and keep in touch!

Get our latest in your inbox 💌

* indicates required
Yelp logo
286 reviews
View All
Zillow logo
204 reviews
View All
Danielle Elazier Realtor on Google My Business- image of Google my business logo
204 reviews
View All

Danielle lazier real estate team

We care deeply about our clients and our commitment to exemplary results. Working with us should be a good fit for you. If you feel our team is the right fit for you and you’d like to talk with Danielle to make sure, contact us today for your complimentary initial consultation.
Contact Me

Do You Need Another Real Estate Newsletter?

Probably not. Yet, in our biased opinion, you should definitely sign up for our twice-monthly email for market insights, webinar invites, local news, gorgeous homes, and more. We never share or sell your information. And, when you’re ready to work with us, please email or call to discuss your plans. We’d love to help!
Consent
Danielle Elazier botanical illustration - 3 different California poppy flower branches. Black and white with line art
Danielle Lazier REAL ESTATE
Privacy PolicyAccessibility StatementTermsCalifornia Privacy PolicyCCPAYour Personal Info
View Full Street Address SAN FRANCISCO, CA 94114 (415) 528-7355 ©2024 VIVRE REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES, OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS, AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT, OR ZONING EXPERT. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED AND SHOULD BE INDEPENDENTLY REVIEWED AND VERIFIED.
enteruserclockcross