by Janet Krahling
Take a look at this comparison:
Downtown Hotel Luxury Condos (St. Regis and Four Seasons Residences
re-sales) vs. Pacific Heights Condos ($1m+ sales).
This chart compares average price per square foot in 2006 vs. average price per square foot YTD in 2007, according to MLS data. The average price per square foot has increased for $1m+ properties in Districts 7 and 8 as well as the hotel luxury condo market. In 2006, the average price per square foot for $1,000,000 plus condominiums was $841 and for luxury hotel condominiums was $1,298 psf. Year-to-date, price per square foot increased to $875 and jumped to $1,530 for those respective property
categories. That’s an increase of more than 17%, on average, for luxury
Exceptional services, such as Private Residences Concierge, state-of-the-art fitness facilities, world-class reputation, fine dining and amenities contribute to the increasing value of these homes.
Additionally, demand for new luxury homes, especially as development of
the Downtown/SoMA district flourishes, continues to rise.
[Editor’s note: Not sure about your districts? Here’s the map.]