This year has been extraordinary for our team. We sold seven homes just last week (possibly a record), and we’re on pace to surpass 100 transactions and $200M in sales for the first time ever. That level of activity gives us a front-row seat to what’s really happening beneath the headlines.
Take Bernal Heights—I’ve been calling it a value play for months. We’re now seeing select homes hit 2021 peak pricing again. Not all of them… but the premium ones? They’re getting snapped up.
Another neighborhood that was on sale, the Richmond. We recently had a buyer decide to purchase a great home at a price that the seller couldn’t get last spring because it was clear the market was moving and with their price point they worried, that next spring they would be priced out.
We are still seeing a lot of cash- historically, we’ve educated buyers that over $5m, you really need cash to compete but right now we are seeing, Even buyers in the high $3Ms are seeing more than half the competition is cash on nearly every offer date.
In SoMa, for the first time since COVID, our buyers encountered multiple offers on condos—something we haven’t seen there in years.
And at 181 Fremont, where we placed a buyer in contract last week, the building just had its strongest month since opening in 2017, with five sales in 30 days. They are down to only a handful of units, and in my opinion, it remains one of the finest buildings in San Francisco. If you’ve been waiting for the right moment—this may be it.
We have a few weeks left of good inventory before things die down for the holiday season. If you’re thinking you might want to sell next year it’s not too early go get in touch and if you want to buy, it’s getting late, but we still have a little time left. Let’s connect.
San Francisco has seen an astonishing strengthening of its real estate market in recent months, presumably due to its rapidly accelerating AI start-up boom. Rents are rising at the fastest rate in the country and median sales prices have risen year over year. September sales and luxury home sales, as well the number of listings going into contract, all soared higher than in September 2024. New-listing activity almost doubled from August, but year-over-year, the number of active listings as well as the quantity of price reductions plunged. Increasing demand coupled with declining supply has added enormous pressure to the city’s market.
October sales data will give us further insight into the autumn selling season, before activity typically begins to slow down in November for the mid-winter holidays.
As of early October, 30-year mortgage rates, at about 6.3%, were essentially unchanged from early September (but well down from 7% in early 2025): The Fed’s first 2025 reduction of its benchmark rate, of .25%, had little effect, though consensus opinion is that further cuts are probably coming before the end of the year. Inflation continued to tick up slightly, while stock markets hit new all-time highs. Nationally, consumer confidence remained low, with significant concerns regarding personal finances, employment and inflation – though affluent consumers deeply invested in stock markets were less concerned than low and middle income segments.
Report created in good faith using data from sources deemed reliable but may contain errors and subject to revision. Last period figures are preliminary estimates based on data available early in the following month. All numbers approximate, and may change with late-reported activity.
