State of the Market 2024

I began my roadshow this week, presenting State of the Market 2024, with a focus on the Bay Area resale housing market, interest rates, and addressing some of the current noise in the industry. This involves me flying to the downtown Seattle office, and traveling to SF, throughout Marin, Sonoma, as well as Tahoe in the coming months of Spring. I'll be in Las Vegas early March...

This presentation accomplishes two things, examining the sales data of 2023, and in contrast, shows us Where we are Now. While this roadshow polishes my skills in presentation, it also introduces me to new advisors and other top producing agents from around the country inside our rapidly growing Gestalt Group (headed by Paul Benson). I am extremely proud to be working with some of the top real estate professionals globally, as they have been personally vetted and invited to join for their accomplishments and stature in their market and the real estate industry.

Here are the highlights of the State of the Market:

• 28% less sales occurred Year-over-Year compared to 2022

• this decrease in sales has created robust Buyer demand 

• the median sales price for single-family homes and condominiums has increased from the same period last year

• interest rates, dropping significantly since their peak in Oct '23,  currently hover in the mid-six range + a probability of 3 rate cuts in '24

• The modest uptick in demand over the last month signals that there will likely be more competition in a market that remains starved for inventory.

Amid falling inflation, the Federal Reserve's possible rate reduction adds to optimism. Positive media coverage indicates a favorable market shift. Downtown growth, especially in AI companies, enhances the economic landscape, pointing towards a brighter future for Bay Area real estate.

Would you like me to elaborate on the data and statistics I reviewed in my presentation? Contact me directly!