The San Francisco holiday home stretch is on! I’m betting that buyers and sellers will be making some deals between now and the end of 2024. Serious sellers will be keeping the higher interest rates in mind and will be prepared to negotiate. Buyers who are preapproved for a loan or can pay in all cash may be motivated to get into a new place before New Year’s at the right price.
Here’s a look at what’s out there:
Single-Family Homes
Number available: 245
Median list price: $1.7M
Avge days on market (DOM): 75
Where the inventory is: Bayview, Bernal Heights, Eureka Valley, Excelsior, Glen Park, Noe Valley, Pacific Heights, Portola, Potrero, Silver Terrace
Off-market: There are 51 homes listed in the “Coming Soon” section of the MLS, which is a great place for your agent to find opportunities for you that aren’t yet public. My favorite is a three-level Bernal Heights Victorian with parking in a good neighborhood location ($1,999,000).
Take note: More than half of all single-family home inventory is listed for $2M or less—the sweet spot for San Francisco houses. And 48 homes have been on the market for three or more months. Current inventory ranges from $749,998 for a 3BR/1BA home in Ingleside Heights, to $32M for the 11,000-square foot manse on Pacific Heights’ Gold Coast that’s been seeking a buyer since late 2023. And let’s not forget about the Robin Williams’ estate at 540 El Camino Del Mar, first listed in October 2023 for $25M and still available at its current $20M list price.
Condos
Number available: 607
Median list price: $949,000
Avge DOM: 102
Where the inventory is: Dogpatch, Cow Hollow, Downtown, Hayes Valley, Inner Mission, Mission Bay, Nob Hill, Pacific Heights, Potrero Hill, Russian Hill, South Beach, SoMa, Van Ness/Civic Center, Yerba Buena
Off-market: 82 units are available to show now or are being prepped to come on the market this month or in the new year. My pick: A top floor 2BR/1BA unit in a very central Noe Valley location, steps from the J Church Muni line and a totally workable distance from BART ($1.2M).
Take note: 61% of all condos currently listed have been on the market for 90 days or more. Almost a quarter of all condo inventory is located in SoMa, South Beach, Mission Bay and Yerba Buena, and these condos have a median list price of $1M with an average DOM of 153. If you have any interest at all in a unit within a large building in one of these neighborhoods, now is the time to strike.
TICs
Number available: 73
Median list price: $849,000
Avge DOM: 61
Where the inventory is: Inner Mission, Inner Sunset, Russian Hill
Off-market: Only 6 TICs—sellers aren’t big on off-market sales right now.
Take note: There are 25 2BR and three 3BR TICs listed for under $1M. Focus on location when it comes to TICs, because their value lies in scoring a better location for the money than that of a condo. Better yet if you can get two bathrooms and parking.