Hello Friends!
Happy Memorial Day Weekend 🇺🇸
While the holiday weekend is the unofficial kick-off to summer, we cannot forget its true meaning, and I want to say THANK YOU to those reading this who have bravely served. We appreciate your service and sacrifice.
The spring real estate market seems to finally be gaining momentum while graduations, music festivals and summer travel are starting to ensue. On queue, Karl the Fog has reared his ugly head.
We are planning our SF summer weather escape to Portugal this year. If you have had the opportunity to visit this popular destination, I'd love your recommendations & to hear what you have on the docket for this summer as well. Meanwhile, read below for the latest market data and fun events taking place this weekend in the city including a ticket giveaway alert.
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Last week's consumer price index (CPI) report revealed inflation is slowing, an extremely positive sign for home values. Consensus expectations are that interest rates will begin to drop in the fall and perhaps as soon as this summer. I expect this will fuel additional buyer activity, resulting in an increase to U.S. median home values.
Given the positive CPI news, I believe we are on the precipice of seeing sustained growth of real estate prices again in SF (although certain neighborhoods and price points will benefit more than others). As interest rates rose last year, we saw SF real estate prices cool quickly; conversely, as rates drop, I expect SF real estate values to trend upward.
Historically SF is among the strongest and most resilient real-estate markets globally. While median SF home prices are down 20% year-over-year (YOY), since April 2013 SF homes have appreciated 81%, and today's prices are at par with pre-pandemic home prices. Meanwhile, YOY condo prices are down 10% with condos having appreciated 41% since April 2013 (unlike single family homes, condos are down 7% relative to pre-pandemic pricing).
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SF May Real Estate Report
Although mortgage applications are comparatively down from a year ago, many buyers have either (a) accepted higher interest rates as the new norm, or (b) realized rates are likely on the verge of coming back down. These happenings are fueling strong buyer activity...
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Dreaming of owning an Airbnb rental in Palm Springs or a Ski-In/ Ski-Out A-frame in Tahoe? Perhaps you are relocating for a job in another state. Either way, I've got you covered!
With trusted colleagues in 71 markets nationwide, I'm here to help — no matter where life takes you.
Whether it’s time for a move, to invest in a second home or just explore your options, contact me to get started.
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The 44th Annual San Francisco Decorator Showcase is well underway and in its final weekend, ending on Memorial Day. Presenting 28 uniquely styled spaces spanning three levels of a gorgeous Spanish-Mediterranean, 18th century–style Sea Cliff home, it's sure to inspire every homeowner.
I attended yesterday and especially loved the fun lucite 'Interstellar Cellar" designed by Noz Design
Giveaway Alert!! I've got two extra tickets that I'm giving away! First come, first served. Be the first respond to this email me and they are yours!
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Carnaval San Francisco is an incredible 2-day carnival that is fun for the whole family. Taking place in the Mission and attracting over 400,000 people per year, it is the largest multi-cultural celebration on the West Coast.
There are loads of fun activities, food and entertainment including the Grand Parade & Royalty Competition on Saturday.
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Stern Grove Festival
Stern Grove Festival is back for the 86th season of concerts. Reserve your free tickets one month prior to show date. Reservations are required for all shows this year and they are expected to go fast, so be sure to set calendar reminders for the shows you want to see.
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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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