Bay Area Market Snapshot: January 2025

January 2025 (Updated Jan 9)

Past Editions

SF Bay Area Market Snapshot title banner over the Golden Gate Bridge at dusk

Good morning, hope all is well with you. Early last year, many big companies (like Wells Fargo, Fannie Mae, & the Mortgage Banking Association) were predicting mortgage rates would fall to the low 6%s by the end of the year. Unfortunately those headlines were a bit optimistic as the average 30 year mortgage is still slightly over 7%. Getting to lower rates ultimately hinges upon two major factors: (1) job growth numbers and (2) inflation data. As these improve, we should see a more favorable environment for real estate. 2025 brings hope to the market with the potential for lower mortgage rates, stabilizing inflation, and a slowly improving inventory shortage.

All the best,

Josh Uy

Table of detached single-family home sales by city in the East Bay and South Bay over the last 3 months: average sold price, percent over asking, price per square foot, and number of sales

Bar chart of the average sold price of detached homes by city in the East Bay and South Bay over the last 3 months

Table of detached single-family home sales by city in San Francisco and the Peninsula over the last 3 months: average sold price, percent over asking, price per square foot, and number of sales

Bar chart of the average sold price of detached homes by city in San Francisco and the Peninsula over the last 3 months

Table of the average home size and average lot size, in square feet, of detached single-family homes sold by city in the East Bay and South Bay over the last 6 months

Table of the average home size and average lot size, in square feet, of detached single-family homes sold by city in San Francisco and the Peninsula over the last 6 months

Table of condo and townhome sales by county over the last 3 months, for 2-bedroom and 3-bedroom units: average sold price, percent over asking, and price per square foot

Table of large home sales by county (4+ bedrooms, 4+ bathrooms, 4,000+ square feet) over the last 3 months: average sold price, percent over asking, average square feet, average lot size, price per square foot, average year built, and number of sales

For more information on how these trends might affect your home values and/or the timing of your real estate moves, please feel free to contact me anytime. You can also visit my website (www.JoshUy.com) which has additional resources for home buyers and home sellers. Sales data was provided by the Bayeast MLS Association, collected through 1/08/25. Data deemed reliable but not guaranteed and is subject to revision.

Visit my website!

Contact Josh Uy, REALTOR, DRE #01952401. Phone 510.449.7280. Email Josh@EverhomeRE.com. Website and QR code both link to www.JoshUy.com. Buying, selling, new homes, and investments.