The Cunningham Group - January 2024 Market Report | San Francisco Bay Area
San Francisco Bay area
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What’syourhome reallyworthin today’smarket?
That's the question you should be asking yourself.
Our market is incredibly diverse and rapidly changing. Values vary not just by neighborhood but by street. Your home isn't necessarily worth what your neighbors' home is. It's the current market that sets the value of your home.
So, do you know what your home is worth in today's market?
Icanhelp...
Contact me for a confidential, no obligation assessment of your home's value.
3KeystoHittingYour HomeownershipGoalsin2024
If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.
Over the last year, the economy had a big impact on the housing market, and likely on your wallet too. That’s why it’s critical to have a clear picture of not just the market today, but also on what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at Realtor.com, explains:
“The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, so that you can stay in your home long enough that buying is a sound financial decision.”
Here are a few things to think through as you define your goals for 2024.
HOW TO BUDGET FOR UNEXPECTED
Unlock homeownership confidently! Prepare for hidden costs like inspections and renovations. Take control with a strategic plan:
Save for Unexpected Costs
1
Ensure a worry-free home with a proactive maintenance plan! Allocate 1-2% of your home's value yearly for repairs, creating a financial safety net. Even $20 a week adds up, offering peace of mind for unexpected expenses. Safeguard your home and finances with a well-crafted budget.
2
3
Keep your appliances and systems in good shape.
Elevate your homeownership with proactive care! Craft a seasonal to-do list, from flushing your water heater to changing filters and cleaning gutters. Enjoy smooth operation, reduce repair frequency, and discover the joy of a well-maintained home.
Consider getting a home warranty
Secure your home's future with American Home Shield® Our budget-friendly plans handle repairs and replacements, giving you peace of mind in homeownership.
Contact me, your Real Estate Expert, for support and to learn more about AHS.
Looking to lighten the mood in your laundry room?
EIGHTEYECATCHING
Laundry Room Colors
To Look Out For
These refreshing colors make the wash-and-dry chore a little more pleasant.
Tranquil Blue
View it here
Eight Colrs fo Laundry
Sage Green
View it here
White
View it here
Yellow
View it here
Gray
View it here
Dusty Pink
View it here
View it here
Navy Blue Purple
View it here
Create a tranquil laundry space with Benjamin Moore's Beach Glass Its light blue shade, coupled with a subtle gray undertone, offers a clean and versatile aesthetic that avoids any baby nursery associations.
Transform your space with earthy tones like October Mist and Gloucester Sage from Benjamin Moore Test out the trendy sage in your laundry room for a lowcommitment update easy to change and customize, ensuring lasting satisfaction with your design choice.
Create an elegant laundry room with Chantilly Lace by Benjamin Moore The classic white choice adds sophistication, opens up the space, and simplifies stain detection
Elevate your laundry space with the energizing touch of yellow. Behr's Roasted Corn or Upbeat bring warmth and optimism, while Pearly White offers a mellow option a yellow-based white that brings a perfect harmony of vibrancy and calmness.
Gray remains a top choice for laundry room walls, providing a timeless and serene backdrop A soft gray for a whisper of sophistication, easily personalized with printed patterned tile flooring or Behr's bold 2024 Color of the Year, Cracked Pepper
Sherwin-Williams' Rosebud for a touch of romance in laundry rooms. The dusty pink hue, paired with gold accents, adds a luxurious and warm atmosphere.
Navy as the key to a striking laundry room Beyond lighter blues, navy paired with lighter accents or white fixtures, especially Benjamin Moore's Hale Navy, creates a bold choice that makes the laundry room stand out.
Dare to take a style risk in your laundry room with a pop of color. Opt for the subtle smoky lavender of Farrow & Ball's Peignoir for a neutral touch or go all-out glam with Backdrop's dark and vampy McQueen, drawing inspiration from the famous fashion designer.
There were 964 single-family homes for sale, providing 1.3 months of inventory. There were 238 new listings, and 455 homes sold at a median price of $1.1m. The median overbid percentage was at 103%, with an average of 32 days on the market.
There were 477 condo and townhome units for sale, providing 1 8 months of inventory There were 89 new listings and 158 units sold at a median sale price of $647k. The median overbid percentage was at 98.6%, with an average of 49 days on the market.
mily Homes
ory
% ist
455 Sold Listings
$1.1M Median Sale Price
32 Avg Days on Market
InfoSparks, includes all single-family homes, condos and rnia Area above from December 2022 to December 2023. This data, and may vary from the time the data was gathered. All but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
89
New Listings
158 Sold Listings
1.8
Months of Inventory
$647K
Median Sale Price 98.6%
Median Sale vs List 49 Avg Days on Market
AlamedaCounty
DECEMBER 2022 - DECEMBER 2023
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Median SalesPrice
Single-Family Homes
The median sales price has increased from $1m last December 2022, to $1 1m as of December 2023
Condos & Townhomes
The median sales price has decreased from $721k last December 2022, to $647k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 39 days last December 2022, to 32 days as of December 2023
Condos & Townhomes
The average time spent on the market went up from 47 days in December 2022, to 49 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 98 5% last December 2022, to 103% a year later
Condos & Townhomes
The overbid percentage has increased from 97.9% last December 2022, to 98.6% a year later.
Contra Costa
What's in the Contra Costa data?
There were 536 single-family homes for sale, providing 0.9 months of inventory. There were 279 new listings, and 426 homes sold at a median price of $800k. The median overbid percentage was at 100%, with an average of 31 days on the market.
There were 247 condo and townhome units for sale, providing 1.4 months of inventory. There were 84 new listings and 134 units sold at a median sale price of $550k. The median overbid percentage was at 100%, with an average of 32 days on the market
SFH
Single-Family Homes
279 New Listings
0.9 Months of Inventory
426 Sold Listings
$800K
Median Sale Price
100%
Median Sale vs List
31
Avg Days on Market
The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from December 2022 to December 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
84
New Listings
134
Sold Listings
1.4
Months of Inventory
$550K
Median Sale Price
100%
Median Sale vs List
32 Avg Days on Market
raCosta
DECEMBER 2022 - DECEMBER 2023
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Median SalesPrice
Single-Family Homes
The median sales price has increased from $757k last December 2022, to $800k as of December 2023
Condos & Townhomes
The median sales price has increased from $531k last December 2022, to $550k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 42 days last December 2022, to 31 days as of December 2023
Condos & Townhomes
The average time spent on the market went down from 43 days in December 2022, to 32 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 98 8% last December 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has stayed from 100% last December 2022, to 100% a year later.
Napa County
What's in the Napa County data?
There were 151 single-family homes for sale, providing 2.2 months of inventory. There were 20 new listings, and 44 homes sold at a median price of $921k. The median overbid percentage was at 98%, with an average of 86 days on the market
There were 16 condo and townhome units for sale, providing 1.8 months of inventory. There were 4 new listings and 6 units sold at a median sale price of $684k. The median overbid percentage was at 99.6%, with an average of 83 days on the market.
SFH
Single-Family Homes
20 New Listings
44 Sold Listings
2.2 Months of Inventory
$921K Median Sale Price
98%
Median Sale vs List
86 Avg Days on Market
The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from December 2022 to December 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
4
New Listings
& Townhomes
6 Sold Listings
1.8
Months of Inventory
$684K
Median Sale Price 99.6%
Median Sale vs List 83 Avg Days on Market
Napa
DECEMBER 2022 - DECEMBER 2023
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Median SalesPrice
Single-Family Homes
The median sales price has increased from $849k last December 2022, to $921k as of December 2023
Condos & Townhomes
The median sales price has decreased from $753k last December 2022, to $684k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 70 days last December 2022, to 86 days as of December 2023
Condos & Townhomes
The average time spent on the market went up from 41 days in December 2022, to 83 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 97 8% last December 2022, to 98 3% a year later
Condos & Townhomes
The overbid percentage has stayed from 99.6% last December 2022, to 99.6% a year later.
San Francisco County
What's in the San Francisco County data?
There were 138 single-family homes for sale, providing 0.9 months of inventory. There were 43 new listings, and 115 homes sold at a median price of $1.4m. The median overbid percentage was at 100.8%, with an average of 39 days on the market.
There were 349 condo and townhome units for sale, providing 2.2 months of inventory. There were 65 new listings and 121 units sold at a median sale price of $1m. The median overbid percentage was at 97.8%, with an average of 73 days on the market.
SFH
Single-Family Homes
43 New Listings
115 Sold Listings
0.9 Months of Inventory
$1.4M Median Sale Price
100.8%
Median Sale vs List
39 Avg Days on Market
The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from December 2022 to December 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
Condo & Townhomes
New Listings
121
Sold Listings
2.2
Months of Inventory
$1M
Median Sale Price 97.8%
Median Sale vs List
73
Avg Days on Market
SanFranciscoCounty
DECEMBER 2022 - DECEMBER 2023
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 5m last December 2022, to $1 4m as of December 2023
Condos & Townhomes
The median sales price has increased from $984k last December 2022, to $1m as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 38 days last December 2022, to 39 days as of December 2023
Condos & Townhomes
The average time spent on the market went down from 74 days in December 2022, to 73 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 100% last December 2022, to 100 8% a year later
Condos & Townhomes
The overbid percentage has decreased from 98% last December 2022, to 97.8% a year later.
SFH
Single-Family Homes
96 New Listings
217 Sold Listings
0.8 Months of Inventory
$1.6M Median Sale Price
100% Median Sale vs List
33 Avg Days on Market
The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from December 2022 to December 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
32
New Listings
63 Sold Listings
1.4
Months of Inventory
$828K
Median Sale Price 99%
Median Sale vs List 51 Avg Days on Market
Median SalesPrice
Single-Family Homes
The median sales price has increased from $1 5m last December 2022, to $1 6m as of December 2023
Condos & Townhomes
The median sales price has increased from $825k last December 2022, to $828k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 37 days last December 2022, to 33 days as of December 2023
Condos & Townhomes
The average time spent on the market went up from 49 days in December 2022, to 51 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 98 3% last December 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has increased from 98.1% last December 2022, to 98.8% a year later.
SantaC County
What's in the Sant County data?
There were 342 single-family providing 0.6 months of inve new listings, and 450 homes price of $1.7m. The median o was at 100 8%, with an avera market.
There were 217 condo and to sale, providing 0.9 months of were 116 new listings and 20 median sale price of $880k. T percentage was at 100%, wit days on the market
homes, condos and December 2023. This data was gathered. All Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
116
New Listings
203
Sold Listings
0.9
Months of Inventory $880K
Median Sale Price 100%
Median Sale vs List 31 Avg Days on Market
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Median SalesPrice
Single-Family Homes
The median sales price has increased from $1 4m last December 2022, to $1 7m as of December 2023
Condos & Townhomes
The median sales price has increased from $879k last December 2022, to $880k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 31 days last December 2022, to 23 days as of December 2023
Condos & Townhomes
The average time spent on the market went down from 33 days in December 2022, to 31 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 98 2% last December 2022, to 100 8% a year later
Condos & Townhomes
The overbid percentage has increased from 98.6% last December 2022, to 100% a year later.
Solano County
What's in the Solano County
data?
There were 441 single-family homes for sale, providing 1.5 months of inventory. There were 198 new listings, and 194 homes sold at a median price of $561k. The median overbid percentage was at 100%, with an average of 49 days on the market.
There were 40 condo and townhome units for sale, providing 1.6 months of inventory. There were 17 new listings and 25 units sold at a median sale price of $415k. The median overbid percentage was at 100%, with an average of 48 days on the market
Single-Family Homes
198 New Listings
194 Sold Listings
1.5 Months of Inventory
$561K Median Sale Price
100%
Median Sale vs List
49 Avg Days on Market
The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from December 2022 to December 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
17
New Listings
25
Sold Listings
1.6
Months of Inventory
$415K
Median Sale Price
100%
Median Sale vs List
48 Avg Days on Market
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $580k last December 2022, to $561k as of December 2023
Condos & Townhomes
The median sales price has increased from $340k last December 2022, to $415k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 57 days last December 2022, to 49 days as of December 2023
Condos & Townhomes
The average time spent on the market went down from 54 days in December 2022, to 48 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 99 2% last December 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has increased from 98.4% last December 2022, to 100% a year later.
Sonoma County
What's in the Sonoma data?
There were 386 single-family homes for sale, providing 1.4 months of inventory. There were 76 new listings, and 216 homes sold at a median price of $817k. The median overbid percentage was at 100%, with an average of 62 days on the market.
There were 47 condo and townhome units for sale, providing 1.3 months of inventory. There were 18 new listings and 25 units sold at a median sale price of $439k. The median overbid percentage was at 100%, with an average of 36 days on the market.
18
New Listings
25
Sold Listings
1.3
Months of Inventory
$439K
Median Sale Price
100%
Median Sale vs List
36 Avg Days on Market
Median SalesPrice
Single-Family Homes
The median sales price has increased from $782k last December 2022, to $817k as of December 2023
Condos & Townhomes
The median sales price has decreased from $450k last December 2022, to $439k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 54 days last December 2022, to 62 days as of December 2023
Condos & Townhomes
The average time spent on the market went down from 48 days in December 2022, to 36 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 99% last December 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has stayed from 100% last December 2022, to 100% a year later.
Southe Centra Marin
What's in the Mari
There were 99 single-family providing 8 7 months of inve new listings, and 99 homes s of $1.5m. The median overb 99.2%, with an average of 54
There were 69 condo and tow sale, providing 1.4 months o were 12 new listings and 38 sale price of $818k. The med percentage was at 100%, wit days on the market.
SFH
Single-Family Homes
18 New Listings
99 Sold Listings
8.7 Months of Inventory
$1.5M Median Sale Price
99.2% Median Sale vs List
54 Avg Days on Market
The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from December 2022 to December 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2024. Each office is independently owned and operated.
12
New Listings
38 Sold Listings
1.4
Months of Inventory
$818K
Median Sale Price 100%
Median Sale vs List
51 Avg Days on Market
Condos & Townhomes
Last 12 months, year-over-year
Median SalesPrice
Single-Family Homes
The median sales price has increased from $1 50m last December 2022, to $1 59m as of December 2023
Condos & Townhomes
The median sales price has increased from $685k last December 2022, to $818k as of December 2023
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 42 days last December 2022, to 54 days as of December 2023
Condos & Townhomes
The average time spent on the market went down from 55 days in December 2022, to 51 days as of December 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 98 5% last December 2022, to 99 2% a year later
Condos & Townhomes
The overbid percentage has decreased from 100% last December 2022, to 99.8% a year later.