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Hey friends, we have a lot to catch up on. The year gone by, the year ahead... and cookies!
But first, our thoughts are with our friends in Los Angeles and the ongoing wildfires there. The current priority is containment and keeping people safe. Later, the efforts and costs to rebuild will be astronomical. If you feel inclined to donate, the LA Times made a list of organizations in need.
San Francisco is also no stranger to adversity. The city's symbol, the phoenix, reminds us of resilience in the face of past challenges. While we can't compare our experiences to the current devastation in LA—and SF’s worst disasters were long before our time—there is evidence all around us in the power of community and ingenuity. Just look outside.
Focusing in on San Francisco real estate, 2024 was a year of earnest recovery. Some segments of the market took off; others firmed up. Multiple factors are coming together to build confidence and excitement in the market. We saw more homes listed and sold, at higher prices for both houses and condos, compared to 2023.
📈 Get the whole scoop in our 2024 SF Real Estate Market Recap
Perhaps most notably, the luxury market flexed its muscles with 120 home sales over $5M, surpassing 2022's impressive figures after a lower 2023. From a $70 million mansion in Pacific Heights to a $213,000 studio in the Sunset, our city's highs and lows continue to amaze.
👀 Explore The High-Low Report: SF's 2024 Most Notable Sales by District
Looking ahead in 2025 and the future of San Francisco real estate, the combination of stable (or potentially lower) interest rates, strong tech sector growth, and changing work and migration patterns points to growing opportunities for both home buyers and sellers in SF.
🔮 Read the tea leaves in our 2025 San Francisco Real Estate Market Predictions
As always, please feel free to reach out with any real estate questions. We are happy to help you and anyone you send our way! Contact us here.
