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October 2024 Real Estate Market News & More

The Mike Murphy Team October 14, 2024

October is here and we are through 3/4 of the year! I hope that your fall has been great so far and everyone has settled in to post-summer routine(s) in your

world. Life here in the Bay is always exciting in the fall - with the best weather, a Super Moon this past week, (limited this year) Blue Angels, and Hardly Strictly Blue Grass in GG Park. I hope that you and yours have gotten out to enjoy some of the fun! On to real estate and some great info on the Bay's art scene this fall.

The 3rd quarter was marked by falling interest rates, a volatile but ultimately positive stock market, and the lowest inflation reporting in over three years, boosting consumer confidence as the economy continues to grow.

Single-family home appreciation remained steady compared to last year, but the number of homes entering escrow surged by 20% (in Marin), with sales (actual closings) increasing by 10%.

This year’s significant interest rate reductions, along with predictions of further cuts, have led to an especially busy home selling season, as buyers seize the opportunity to benefit from improved borrowing conditions.

If you live in and around Tam Valley, keep an eye out for my semiannual print edition of Tam Valley Market News, reflecting data from our neighborhood from the first half of 2024! You can also check out brief market highlights from that brochure in the online edition here.

Local News

Aerial view of a suburban neighborhood around a large tree-filled park, with mountains in the distance.

Exclusive: DMV Site Near S.F.’s Panhandle Will Become Affordable Housing Complex

A state-owned site at 1377 Fell Street that currently hosts a 60-year-old DMV and large parking lot will soon be transformed into a mixed-use complex with 372 affordable housing units, Gov. Gavin Newsom announced Thursday.

READ MORE

September 2024 Market Review

Marin County

Stats at a Glance - All Property Types

Real estate market statistics for July–September 2024, including median price, price per square foot, and days on market.

Real estate market statistics for July–September 2024, including prices, days on market, listings, and sales.

September 2024 Data by Area - Single-Family Homes

Real estate sales statistics table for eight Marin County cities, including prices, sales counts, days on market, and sale-to-list percentages.

Seasonality & Long-term Trends

# New Listings on Market: All Property Types 2019-2024

Orange bar chart showing values from September 2019 to September 2024, generally declining after 2022.

Median Sales Price: All Property Types 2014-2024

Bar chart of dollar values from September 2014 to September 2024, rising overall to around $1.5 million.

San Francisco

Stats at a Glance: All Property Types

Real estate market statistics: $1,344M median price, $993 per square foot, and 24 days on market.

Real estate market statistics for July through September 2024, comparing prices, days on market, listings, and sales.

Seasonality & Long-term Trends

# New Listings on Market: All Property Types 2019-2024

Orange bar chart of monthly values from September 2019 to September 2024.

Median Sales Price: All Property Types 2014-2024

Orange monthly bar chart from September 2014 to September 2024, with values peaking in early 2022.

Note: Above data reflects that reported to NorCal MLS Alliance MLS. Data from sources deemed reliable but may contain errors and is subject to revision. All numbers approximate. Outlier data adjusted when identified.