Q2 2024 San Francisco Multifamily Report
Q2 2024 saw a tremendous jump in transactions as multifamily investors continued to gain confidence in the San Francisco market.
San Francisco Multifamily Q2 2024 Sales Volume Signals an Active Market
The second quarter of 2024 was a period of increased activity and cautious optimism in the financial and real estate markets. Influenced by cooling inflation concerns and Federal Reserve policies, the S&P 500 gained 4.4% in Q2. In parallel, the multifamily real estate market in San Francisco remained resilient: quarter-over-quarter sales of multifamily properties increased by 109% and rents by 5.86%. Q2 data suggests the broader market is successfully navigating through economic uncertainties, continuing to bolster investor sentiment.
District-by-District Analysis - Trailing Twelve Month Average/Total as of 7/1/2024
Cap Rate | $/SF | Total Transactions - 5+Unit Multifamily Properties - Source: SFAR MLS
5+ Unit Properties - $/SF | Cap Rate | GRM
5+ Unit Properties - Sales Volume
Multifamily Vacancy Rate & Asking Rents
Transaction Volume and Active Listings
Federal Funds Rate, 30-Year Mortgage Rate, 5-Year Treasury, and 25-Year SBA504 Loan Rate
This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass and LL CRE Group disclaim any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass/ LL CRE Group does not provide such advice. All opinions are subject to change without notice. Compass and LL CRE Group makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.
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Brian Leung
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Associate
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