SAN FRANCISCO

Real Estate Market Newsletter

December, 2024

Dreaming of living near the park? 🏞️ Calling all sports enthusiasts and athletes—your perfect home is just a step away! We're here to help you find it. 🏡💪

As we wrap up another year, it’s a perfect time to reflect on the successes and challenges of 2024 while looking ahead to what 2025 has in store for the real estate market. Whether you're gearing up for a busy end-of-year push or taking a moment to recharge, we're here to bring you the latest trends, insights, and tips to close out the year strong.

In this month’s edition, we’ll explore year-end market trends, valuable tips for clients, and a preview of what to expect in the upcoming season. Plus, don’t miss our special feature on strategies to keep your business thriving during the holiday season. Let’s finish the year on a high note!

Weekly & Daily Average Interest Rates: 

The daily rate has begun to tick down in the last 2 business days, too early to know if it's the beginning of a sustained decline. 

The National Association of Realtors just published their 2024 review of statistics pertaining to U.S. buyers and sellers. Below are some highlights of that report.

Comparing Q3 2024 median house sales prices and year-over-year appreciation rates in selected "metro areas" (typically multi-county regions containing a multitude of different submarkets). The San Jose, CA metro area, home to high-tech firms such as Nvidia, has seen super-heated conditions due to its "AI boom."

Perhaps due to September's lower interest rates, existing-home sales volume spiked up a bit in October. (Sales in one month mostly reflect listings that went into contract in the previous month.) When November data becomes available, we will see if and how October's rising rates affected sales.

Sales have not kept pace with the increase in listings, which has lifted the months-supply-of-inventory reading to its highest point since 2020. This means buyers have more listings to choose from and comparatively less competition from other buyers.

Though many homes still sell quickly with multiple offers for over asking price, the number of price reductions has climbed higher in 2024. Buyers have decided that hundreds of thousands of listings were simply priced too high.

Kelly's Korner:

Deck the Halls: Simple Tips for Holiday Home Décor

Decorating your home for the holidays can quickly transform your space into a festive wonderland. Start by making your Christmas tree the centerpiece, adorned with lights, personal ornaments, and a standout tree topper.

Don’t stop there—string lights can be added to banisters, windows, and mantels for a warm glow throughout your home. Swap out your regular pillows and throws for holiday-themed ones in rich, seasonal colors and cozy patterns. Scent your home with seasonal candles or potpourri featuring notes of cinnamon, pine, or vanilla to add a welcoming touch. Finally, embrace the DIY spirit by creating your own wreaths, garlands, or table centerpieces for a personal, handmade feel. These simple yet effective ideas will help make your home feel festive and inviting throughout the season.

As a Realtor® & Certified Home Stager, I love answering your questions about Home Staging!

Click here to submit your questions!

Answers will be posted in the next issue of our Newsletter.

Another Happy Client

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The Minchen's Monthly Wine Recommendation

Ridge Vineyards (Monte Bello)

17100 Montebello Road, Cupertino, CA 95014

Just south of San Francisco, Ridge Vineyards is a must-visit for wine lovers. Their Monte Bello vineyard is famous for producing some of the best Cabernet Sauvignon and Zinfandel wines. The views from the tasting room are stunning, and their wines have a loyal following.

Indulge in Elegance: Christmas at The Garden Court

2 New Montgomery St, San Francisco

Celebrate the holiday in style at The Garden Court in the iconic Palace Hotel, San Francisco. This Christmas Day, the venue offers an unforgettable brunch in its opulent, glass-domed atrium. Guests can enjoy a lavish buffet featuring highlights such as:

• Carving Stations with perfectly prepared holiday roasts.

• Fresh Seafood selections, including local favorites.

• Dim Sum Delights, adding an international flair.

• Delectable Desserts crafted to sweeten your holiday.

Accompanied by live music, this dining experience blends festive cheer with sophistication, making it the perfect setting for a memorable Christmas celebration. Reservations are highly recommended due to its popularity during the holidays.

For bookings and more details, visit OpenTable

SAN FRANCISCO

HISTORY:

Did you know?

The Emporium’s rooftop carnival in San Francisco was a magical tradition during the holidays, especially in the mid-20th century. Families would gather at the Emporium to enjoy festive activities, including rides like the Ferris wheel and merry-go-round on the store's rooftop. The carnival was a highlight for children, featuring visits with Santa Claus and treats like caramel corn. This cherished tradition drew visitors from across the Bay Area and beyond, making it a quintessential part of San Francisco’s Christmas celebrations until the Emporium's closure in the 1990s.

The Fairmont’s Iconic Gingerbread House

One of San Francisco’s most iconic holiday traditions is the two-story gingerbread house at the Fairmont Hotel. This impressive structure stands 22 feet tall and is meticulously crafted from thousands of gingerbread bricks, all bound together with royal icing.

The creation process begins months in advance, with a team of engineers, builders, and pastry chefs starting their planning in July. The house is constructed using over 8,000 gingerbread bricks, each measuring 12x4 inches, and requires a staggering 150 gallons of egg whites and 1,000 pounds of powdered sugar to make the royal icing. It takes 520 hours to assemble, light, and decorate the Victorian-style house with hundreds of pieces of candy, including favorites like candy canes and chocolate Santas.

MINCHEN TEAM

FEATURED LISTINGS:

A Time for Celebration!

As the holiday season approaches, Christmas Eve is a time to reflect, gather with loved ones, and look forward to the joy of Christmas Day. Whether you're exchanging gifts, sharing a meal, or simply enjoying time together, these two days remind us of the importance of kindness, community, and family.

From all of us at The Minchen Team, we wish you a warm and joyful holiday season!

The Magic of December: Music for the Season

🎶 December Vibes 🎶

Let December’s magic fill the air ✨❄️. From cozy winter vibes to festive beats, this playlist is your perfect soundtrack for the season. Hit play and let the music take you there. 🎶

We are members of the Compass Sports & Entertainment (S&E) Division created to serve the distinct needs of high-profile Athletes and Celebrity Buyers and Sellers.

#SportsAndEntertainment

Steven Minchen

Broker Associate

DRE# 01367542

M: 415.690.0352

steven@minchenteam.com

Kelly Minchen

REALTOR®

DRE# 01811086

M: 415.619.1728

kelly@minchenteam.com