San Francisco condominium prices rose 18 percent in December 2013 over the previous year, according to the Condominium Pricing Index released today by The Mark Company, a leading urban residential marketing and sales firm.
The Mark Company Condominium Pricing Index for December was $1,034 per square foot, which is up 2 percent from November. New construction inventory was 78 percent lower than a year ago, and down 26 percent from the previous month, with 92 units currently available.
“With fewer than 100 new condominiums now for sale in San Francisco, price appreciation is likely to continue in 2014,” states Erin Kennelly, senior director of research, The Mark Company.
The Condominium Pricing Index, part of the firm’s monthly Trend Sheet (available at www.themarkcompany.com), represents the price per square foot of a new 10th floor, 1,000-square-foot condominium. It is based on recent sales data, and uses a proprietary quantitative method to measure trends in market demand. It tracks the value of a new construction condominium without the volatility of inventory changes.
The Mark Company Penthouse Pricing Index, which applies the same methodology to a new 30th floor, 2,000-square-foot condominium, was $1,776 per square foot, up 18 percent year over year.
The condominium price per square foot was $868 for resales, up 26 percent over December 2012, according to The Mark Company Trend Sheet for San Francisco. In addition, there were 229 condominium resales in San Francisco in December, 134 active condominium listings representing less than one month of inventory, and 123 pending condominium units, the Trend Sheet found.
That’s some pretty insane growth and is not surprising. Thanks Mark Company for the info.
This top floor, one bedroom, one bath, ultra luxury condominium in the heart of San Francisco will be hitting the market (with any luck) on Friday August 9th [It’s now officially on the market], but since you’re a fan of theFrontSteps, you get to see it here first.
This unit is not only on the top floor, but also on the North East corner and features soaring 12 foot ceilings, open kitchen/living area, bamboo flooring, walk-in closet, custom kitchen pantry, Cesarstone kitchen countertops with bar seating, espresso cabinetry, stackable Kenmore High Efficiency Washer & Dryer, Bosch Energy Star appliances (Dishwasher, Gas Range & Hood), Samsung French Door Refrigerator, microwave, and a 64″ Samsung Plasma TV already perfectly mounted to the wall! This unit comes with additional storage, bike parking, and all of the furniture could be included as well. (Parking for one car is currently subleased nearby at 18 Lansing St for $225/mo. Although it is highly likely the sublease would be honored, it cannot be guaranteed.)
What makes 1 Ecker so attractive and in such demand? 1 Ecker (16 Jessie) is an appealing blend of modern and timeless San Francisco charm, and sustainable down to its very foundation. The original century-old building structure was painstakingly restored and updated with brand-new modern interior fixtures and finishes in every bedroom and bath. The soaring arched windows are 100% recycled, and all of the units were restored with sustainability in mind. Nestled among some of San Francisco’s tallest structures, the grand windows and high ceilings fill this residence with generous amounts of natural light, while the original brick structure is a welcome backdrop for modern, sophisticated living.
1 Ecker’s common area amenities include the comfortable rooftop lounge, with grill and plenty of seating for entertaining a large group or enjoying a quiet dinner for two. Sleek, comfortable modular seating allows for adjustment to meet your group’s needs, as art form meets function. Exotic foliage in vibrant hues frames an antique Balinese water fountain, a tranquil centerpiece. The lounge grill is ready to serve up favorites year-round.. The interior courtyard offers a stylish visual backdrop featuring exotic, vibrant foliage. Common areas are maintained by the building’s Home Owners Association, and monthly HOA dues of $500.68 for this unit help serve to keep them in pristine order. HOA dues also include water, garbage, and professional property management services.
The location of this wonderful city home (go ahead…map it) puts you steps away from tons of shops, restaurants, clubs, art museums (MOMA), theaters (Metreon), Outdoor Parks (Yerba Buena), conference centers (Moscone), World Champion baseball stadium (Go Giants!), and so much more. Multiple Zipcar® locations are within walking distance for pay-as-you-go car convenience, and the future Transbay Transit Center steps away at 1st and Mission Streets will house 11 transportation systems, including AC Transit, BART, Caltrain, Muni &; Amtrak, for easy access to all of the Bay Area and beyond.
This is certainly a one-of-a-kind unit in a one-of-a-kind property that you won’t want to miss.
The bullet points:
Samsung French Door Refrigerator
Lazy Susan in cabinetry
Cesarstone countertops and espresso cabinetry
Under counter lighting
Washer/Dryer – Kenmore High Efficiency
12 ft Ceiling heights
~64 inch Samsung Plasma TV
Custom Paint throughout
12 ft Ceiling heights
Walk in Closet
Custom closet organizer
Custom cabinetry under sink
Custom Glass Shower Door upgrade
Parking: Currently Subleased $225/month. Location at 18 Lansing St.
Showing times: Sunday 8/11 from 2-4pm; Tuesday 8/13 from 2-3:30pm; Sunday 8/18 from 2-4pm, and by private appointment anytime in between. Sorry, no showings until first Open House. But at least you can see the pictures here and get yourself ready to make this fabulous home your own!
Exclusively listed by Alexander Clark of Paragon Real Estate.
For more details:
Ritz-Carlton residence number 1502, a 2 bed, 2.5 bath, 1195 square foot condominium, originally listed for $1,825,000 back in 2008 is going to auction on December 10th…and there is no minimum bid. The current list price is $949,905, and as the spam asks, “WILL YOU BE KICKING YOURSELF IF THIS RITZ-CARLTON CONDO SELLS FOR ONLY $600,000?”
Good Lord! If it sells for $600,000 we’re all f*cked…pardon our French. Of course, if you’re a buyer, you’ll be thrilled.