Hello Friends!
As the season of gratitude unfolds, I would like to take a moment to express my heartfelt thanks for being a part of my inner circle. Whether you're a valued client, a trusted partner, or a cherished colleague, your support and trust mean everything to me. From finding dream homes to building stronger communities, I am endlessly grateful to have you in my corner.
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How is the market doing after the election? While we can't attribute current data to the election results, let's jump right into the most important metrics:
The stock market reacted positively to the election results (of course there can be many reasons for this), continuing it's very strong 2024 trajectory (Dow is +16.5% YTD; Nasdaq is +30% YTD).
Mortgage interest rates have continued to climb since their low in mid September; the average 30-yr fixed is now pushing 6.8%.
Median sales price for single-family homes is +1.8% year-over-year, while condo prices are +5.8% year-over-year.
The absorption rate in San Francisco (in other words, the % of active listings going into contract) hit its highest point since spring 2022 (the very peak of our housing market) this October. This is a very positive sign for real estate prices moving in the right direction, despite high interest rates.
Our luxury sector has seen a huge increase in demand:
2024 year-to-date sales of luxury house sales ($5M+) are up 40% and luxury condo and co-op sales ($2.5M+) are up 48% (!).
In other words, the segment of the market that is most positively impacted by financial market gains and least negatively impacted by higher mortgage interest rates is the segment making moves.
Listing and sales activity, as well as virtually all the standard metrics of demand, typically cool dramatically in November and December, and the number of unsold listings take off the market usually jumps, especially in higher price segments. Still, the next 2 months can be an excellent time for buyer to negotiate more aggressively to make some of the best deals of the year.
If you have any questions about a particular listing or market segment, feel free to reach out to me directly.
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Soups on!
There's nothing quite like a bowl of homemade soup. Soup is the ultimate rainy day buddy. The recent soft opening of the Rusty Ladle in the Outer Sunset comes at just the right time. Owner John Lindsey serves a variety of soups, salads, sandwiches, as well as beer, wine, sake, and soju in his cozy bar-seating-only restaurant, which is located next door to his art gallery, The Great Highway.
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Let's Talk Turkey...
Scratch that: let's talk decor! The fun part of hosting Thanksgiving is having creative control over the menu and the tablescape. The not-so-fun part is all the cooking. Whether a minimalist or a maximalist, here are some fresh ideas and color palettes to liven up your Thanksgiving table.
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When it rains...it snows in the mountains ❄
Ski season is officially here. This weekend, head to Sports Basement in the Presidio for SnowFest 2024. Their biggest, most exciting, and most snow-tastic event of the year with exclusive giveaways and deep discounts. The event is free, but ticketed, so snag your spot before they're gone.
Saturday, November 23 · 9am - 4pm PST
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Fewer Buyers, More Bargains: Your Opportunity This Holiday Season
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As we approach the holiday season, I wanted to share a quick tip that might surprise you: this can actually be one of the best times of the year to buy a home.
• Motivated Sellers: Many sellers are eager to close before the end of the year, making them more open to negotiation and price reductions.
• Less Competition: With many buyers busy with holiday plans or traveling, there’s often less competition, giving you a better chance to snag a great deal.
• More Opportunities: While the weather might be cooling down, the housing market heats up with hidden gems.
If you’re staying in town, now could be your moment to find the perfect home.
If you’re ready to explore some new options or want to get started, I’d love to help you find that special place before the new year.
Let’s connect and see what’s out there for you.
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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 2025 ¦ 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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