Hello Friends!
I hope you are enjoying a wonderful end of summer!
My Instagram feed quickly went from envious European vacations, to obligatory 'back to school' pics.
While summer always ends too quickly, I look most forward to the fall. The weather is perfect and there's something comforting about being home, entertaining friends & family and getting back to work and
If you follow me on instagram, I'll be sure to post our summer Portugal travel photos sooner than later. Meanwhile, see below for your monthly market update and plenty of fun events taking place this weekend in the city!
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In July, the strong labor market coupled with cooling inflation pushed U.S. consumer confidence to the highest levels since July 2021. And in SF, the city’s labor market remained robust with 3.2% unemployment.
While the national trend of surging office vacancy rates continues, Bloomberg reported that demand for office space in SF grew about 10% in the second quarter. The same article noted that almost a dozen companies are currently seeking about one million square feet of SF office space.
As is usually the case in the summer, July real estate activity was slow and August is even quieter. From conversations with fellow agents, staging and title companies, I expect housing inventory to increase significantly in September when the fall housing market kicks off. Most agents are holding off on releasing homes for sale until September and October, in order to capitalize on the year’s second strongest market.
While headlines abound that interest rates are now ~7%, I'm helping many of my clients secure rates for less. I remain convinced that interest rates will not stay at these levels for long and that as they decrease, home values will climb.
These higher interest rates are giving buyers the opportunity to purchase homes at 2016-2018 prices: the year-to-date (YTD) median single family home sales price is $1.55M - below the 2018 median single family home price of $1.6M, and the YTD median condo sales price is $1.15M - hovering just above the 2016 median price of $1.095M.
If you are thinking of buying, I’d love to discuss how to secure a well-priced home with the lowest possible interest rate.
Click below to view the full August report.
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Monterey Bay Properties Joins Compass!
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We are excited to announce that Monterey Bay Properties, a boutique brokerage with more than 40 years of dedicated service to Santa Cruz County, is joining the Compass team! This partnership marks the inception of our Santa Cruz flagship market, further building our local presence and expertise throughout NorCal.
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Noise Pop along with the SF Parks Alliance host the return of the popular Due South concert series, nestled among the trees of McLaren Park
at the Jerry Garcia Amphitheater. Today, catch LA based American rock band Cherry Glazer along with Momma (duo) & King Isis. Hike, bike, boogie or Uber your way there, the venue has you covered with local food vendors and food trucks, beer & wine.
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The Golden Mile Beer & Wine Garden is open Saturday & Sundays from 12pm-6pm through Labor Day. Pull together a few Adirondack chairs or grab one of the picnic tables and take a breather from exploring The Golden Mile. This weekend and next, enjoy live music, food trucks, & lawn games for the whole family, (kids and dogs too!) while also enjoying some fun, fresh air, & cold beverages.
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National Cinema Day
This Sunday, August 27th, celebrate National Cinema Day with $4 movies all day long. – even on specialty screens like IMAX, 4D, ScreenX, RPX, and theaters with fancy schmancy lounge seating.
Whether you’re in the mood for a fun movie with your kids or a scary movie with a friend, 2D or 3D, a classic or the newest blockbuster, it’s all only four bucks.
Take advantage of this special price and go see Barbie for a 2nd time. You know you want to!
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HEAD WEST MARKET is back for another incredible marketplace in the heart of SF!
This Sunday, August 27th from 11am – 5pm at Patricia’s Green in Hayes Valley.
This will be one of the biggest outdoor markets of the year!
​​​​​​​ Get ready to SHOP SMALL from over 100 Makers, Merchants, Crafters, Designers and Artists, along with hundreds of local merchants.
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*Seek advice and counsel of a medical professional and/or officials prior to going outdoors or any items mentioned in the above.
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© Compass 2023 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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