MARIN AND SAN FRANCISCO REAL ESTATE MARKET OVERVIEW Q2-2024
Prices, sales, and inventory all rose quarter-over-quarter in Marin Real Estate and San Francisco Real Estate from Q1 to Q2 2024. Year-over-year, prices and sales rose in San Francisco, while the opposite was true for Marin with sale prices and properties sold down. In Marin year over year median sales prices was down 1% to $1,800,000, price per square foot average was down 4% to $1,101. 504 properties sold which was down 3% and days on market increased to an average of 37 days up 5% compared to the previous year. San Francisco median sales price was up 5% to $1,750,000, average price per square foot was up 4% to $1,115, properties sold was up 14% to 567 and days on market was down 17% to an average of 26 days. From Q1 to Q2 of 2024, sales increased by 65% in San Francisco and 113% in Marin. The median single-family home price rose 3% in San Francisco and 6% in Marin quarter over quarter, reaching the highest level since Q2 2022. Similarly, the average price per square foot rose in both markets and are each 8% below their record highs. Mortgage rates averaged 7.0% in Q2 but demand for homes outshined falling affordability. With the ever-changing housing market, we look forward to guiding you on the purchase or sale of your home. We understand that purchasing a home during periods of tight supply, high demand, and higher cost of financing can be especially challenging, and we look forward to positioning you for success.
MARIN COUNTY REAL ESTATE MARKET
SAN FRANCISCO REAL ESTATE MARKET
