San Francisco - Real Estate Market Report SEPTEMBER 2023
San Francisco Real Estate Trends 2023:
Recovery and Complexity: While 2023 has shown a robust market rebound after the lows of 2022, San Francisco's real estate scene remains intricate. The city's house and condo markets differ significantly, with condos varying even within city parts.
Mortgage and Cash Transactions: The rise in the 30-year mortgage rate above 7% in August has affected housing affordability in San Francisco. However, a notable trend is the increase in all-cash purchases, which have reached their highest in 8 years.
Seasonal Market Movements: After a quieter summer, the real estate market is gearing up for a busy fall, especially after Labor Day. Historically, September is a peak month for new listings. Luxury homes, in particular, are anticipated to see an uptick in sales this autumn.
San Francisco real estate market is thriving. This report will give you an inside look at the latest trends in our market, including sales price and inventory data, as well as information on luxury homes. We’ll also take a look at what’s happening with rental rates so you can make informed decisions about your next move.
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