San Francisco's real estate market is on a roll, powered by the City's booming AI start-up scene. It's an exciting time as rents skyrocket at the fastest pace in the nation and home prices climb higher than last year. September was a standout month with impressive gains in home sales, especially in the luxury sector, and a surge in property contracts compared to the previous year.
While new listings almost doubled from August, there are fewer homes on the market and fewer price cuts, creating a high-demand, competitive landscape. As we await October's sales figures, they promise to reveal more about the bustling autumn selling season before the usual winter slowdown.
Mortgage rates have steadied around 6.3% since September, a drop from early 2025 levels. Economic factors continue to shift, with inflation inching up and stock markets reaching new heights. Nationally, there's cautious optimism, as concerns linger about personal finances and employment, though those invested in the stock market seem more at ease.
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Cece & Team
