Tag Archives: Stats & Numbers

San Francisco Condo Prices Continue to Rise: $1,144 per sqft (new condo), $953 per sqft (resale)

According to The Mark Company Trend Sheet, the value of new construction condominiums in San Francisco was $1,144 per square foot in June, up 13 percent year over year, and the value of resale condominiums was $953 per square foot, up 23 percent year over year.

Below you will find the recent new construction and resale condominium report from the Mark Company, one of the leaders in new development sales in San Francisco, and the market guys behind the enormously successful Amero, Arden, 8 Octavia, Park 181, as well as past home runs at The Brannan and 733 Front. They have extensive knowledge and analysis on our real estate market for high rise, luxury, and new constructions, as well as how these properties are being resold.

San Francisco condominium prices rose 13 percent in June 2014 over the previous year, according to the Condominium Pricing Index released by The Mark Company.

The Condominium Pricing Index for June was $1,144 per square foot, which is up 2 percent from May. New construction inventory was 63 percent higher than a year ago, but down 2 percent from the previous month, with 401 units now available.

“While several new developments have begun selling recently in San Francisco, including Arden by Bosa and 8 Octavia, the additional inventory has not been sufficient to stop the persistent appreciation in prices in recent months,” noted Erin Kennelly, senior director of research, The Mark Company.

The Condominium Pricing Index, part of the firm’s monthly Trend Sheet (available at http://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 $1,964 per square foot in June, up 13 percent year over year.

The condominium price per square foot was $953 for resales, up 23 percent year over year and up 2 percent from May 2014, according to The Mark Company Trend Sheet for San Francisco. In addition, there were 268 condominium resales in San Francisco in June, 274 active condominium listings representing approximately one month of inventory, and 168 pending condominium listings, the Trend Sheet found.
Available units include less than 117 residences at Arden in Mission Bay, 29 residences at 8 Octavia in Hayes Valley, 16 condominiums at 1645 Pacific in Nob Hill, 23 units at Fifteen Fifteen in the Mission District, 20 condominiums at Millwheel North in the Dogpatch, 11 units at the Mint Collection in the South of Market neighborhood, and 74 residences at Vida in the Mission District.

The Mark Company Trend Sheet - San Francisco - June 2014_Page_1

The Mark Company Trend Sheet - San Francisco - June 2014_Page_2

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San Francisco Demographics

A statistical breakdown by household income, education, homeownership, foreign-born population, household size, age and other criteria.

The below charts and table are based upon U.S. Census surveys from 2010 – 2013. Please note that zip codes often contain neighborhoods of widely different demographics. For example, 94115 includes Pacific Heights, one of the most affluent areas of the city, as well the Western Addition, which is much less affluent. A number of SF zip codes are like this and when mixing very different neighborhoods together, you often end up with statistics that don’t really apply to any of them. Zip codes are relatively blunt instruments for demographic investigation, but we still found the analysis to generate interesting, new insights into San Francisco, our ever-changing city.

Each chart illustrates the data for 10 to 12 SF zip codes. Below the charts is a complete table of all the data collected.

The neighborhoods associated with zip codes in the charts and table below are simply representative labels; other neighborhoods are contained within each zip code and many are divided between two or more zip codes.

Median Household Income 

Many factors impact this statistic: household size, level of education, percentages of homeowners vs. renters, whether the rental units are subject to rent control, median resident age, quality of housing, and cost-of-housing issues besides rent control. The South Beach-Yerba Buena zip code takes top place for median household income in San Francisco. Interestingly, it is at the bottom of the ranking for average household size. This zip code is dominated by newer condo projects, many of them at the top of the price scale and the rental units here, which make up over half the housing, are typically not under rent control. The second ranked zip code for income is quite different: the St. Francis Wood-Miraloma Park area has a completely different ambiance, very few condos or renters, older residents and bigger households. And number 3 is the Presidio Trust zip code with no homeowners, all renters but no rent control, and younger residents than either of the first two. All 3 of the top zip codes, however, have very high percentages of residents with bachelor’s, graduate and professional degrees.

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San Francisco SOLD Properties And New Listings Report

San Francisco recently listed and SOLD property by neighborhood. This is the sh*t you need for house hunting and house selling. Get rid of the fluff and focus on the good stuff. Recent sales comparables.

I send this out every other week. If you want to be added to the list, just holla (alexclark@gmail.com)!

-sfnewsletter MarketTracker San Francisco real estate report