SAN FRANCISCO OCTOBER 2024
CRISTIAN ISBRANDTSEN
SAN FRANCISCO SPECIALIST
c. 415.535.9850
e. cristian@aw-sf.com
Happy Fall! Welcome to the October 2024 San Francisco Market Report.
Housing demand remained strong in the SF Bay Area through Q3, driven by lower mortgage rates, which dropped by 70 basis points to the low 6% range. This increase in affordability boosted buyer activity, especially in lower price tiers, while demand for high-end homes remained steady. Job growth added 30,000 positions, a 0 7% increase from last year Both the improving economy and lower borrowing costs could boost home buying demand in the SF Bay Area, attracting more buyers during the typically slower season.
Competition eased slightly after the summer, with over half of homes selling above asking, while around 40% sold below list price. The $2.5M–$3.5M segment was particularly competitive, with homes selling in three weeks or less, and most above asking. The median sales price went up 0.8% compared to that of Q3 2023. Average price per square foot is up 2.9% compared to Q3 2023 and the number of sales increased by 10%
The most expensive sales in San Francisco during Q3 were 2840 Broadway which sold for $71,000,000, 2799 Broadway which sold for $29,150,000 and 290 Seacliff which sold for $26,000,000.
Fast Fact: Applegarth+Warrin was the #1 team at Golden Gate Sotheby’s in San Francisco and Marin last year, with $135M in sales.
TRENDING IN SF
AMAZON SUBMITS THEIR MISSION BAY PLANS
The SF Board of Supervisors put Amazon’s proposed Mission Bay fulfillment center in a two-year time-out, but that pause is now finished, and Amazon just unboxed their plans for the facility at Seventh and Berry streets. They’re throwing in a nice-sounding public park, what the Chronicle describes as a “13,700-square-foot public outdoor area and “2,500 square feet of ground floor commercial space” available, which may be made available to independent retailers.
SAN FRANCISCO IS GETTING A NEW HILTON
The 12-story, 236-room Line Hotel San Francisco at 33 Turk Street — part of the $380 million mixed-use Serif project at 950 Market St. — will rebrand from Line Hotels to a new operator and join the Hilton Curio Collection. As of December 10th, the hotel will become part of the Hilton Curio Collection, and Hilton is expected to rehire all or most of the 86-person staff.
FROM VACANT TO VIBRANT
San Francisco’s commercial districts have long been economic engines, generating billions through tourism, business, shopping and dining. Post COVID-19, the city has seen reduced foot traffic and shifts in its population. A strategic revitalization effort is in place to boost the city’s economy including bringing the best of new business and collaborating with local businesses to drive economic growth and create thriving commercial corridors.
BEHIND THE SCENES
HOME TRANSFORMATION
FROM DRAB TO FAB
A fresh and modern kitchen completely elevated this Bernal Heights home. The original kitchen with its antiquated tile countertops and flooring, was completely transformed with the incorporation of quartz countertops, new hardwood flooring, modern faucetry & hardware and fresh paint. Now bright and airy, and stunning all the way around. More before/after photos can be viewed here : A+W Before & After
BEFORE
SAN FRANCISCO SINGLE FAMILY
SALES BY DISTRICT · SINGLE FAMILY HOMES · Q3 2024
DISTRICT 1
Central Richmond, Inner Richmond, Outer Richmond, Jordan Park/ Laurel Heights, Presidio, Lake Street, Sea Cliff, Lone Mountain
DISTRICT 2
Golden Gate Heights, Outer Parkside, Outer Sunset, Parkside, Central Sunset, Inner Sunset, Inner Parkside
DISTRICT 3
Lake Shore, Merced Heights, Pine Lake Park, Stonestown, Lakeside, Merced Manor, Ingleside, Ingleside Heights, Oceanview
DISTRICT 4
Balboa Terrace, Diamond Heights, Forest Hill, Forest Knolls, Ingleside Terrace, Midtown Terrace, Saint Francis Wood, Miraloma Park, Forest Hill Extension, Sherwood Forest, Mount Davidson Manor, Westwood Highlands, Westwood Park, Sunnyside, West Portal, Monterey Heights
DISTRICT 5
Glen Park, Haight Ashbury, Noe Valley, Twin Peaks, Cole Valley/Parnassus Heights, Buena Vista/Ashbury Heights, Castro, Corona Heights, Clarendon Heights, Duboce Triangle, Eureka Valley/Dolores Heights, Mission Dolores
DISTRICT 6
Anza Vista, Hayes Valley, Lower Pacific Heights, Western Addition, Alamo Square, North Panhandle
DISTRICT 7
Marina, Pacific Heights, Presidio Heights, Cow Hollow
DISTRICT 8
Downtown, Financial District/Barbary Coast, Nob Hill, North Beach, Russian Hill, Van Ness/Civic Center, Telegraph Hill, North Waterfront, Tenderloin
DISTRICT 9
Bernal Heights, Inner Mission, Mission Bay, Potrero Hill, South of Market, Yerba Buena, South Beach, Central Waterfront/ Dogpatch
DISTRICT 10
Bayview, Crocker Amazon, Excelsior, Outer Mission, Visitacion Valley, Portola, Silver Terrace, Mission Terrace, Hunter’s Point, Bayview Heights, Candlestick, Little Hollywood
SAN FRANCISCO COUNTY SINGLE FAMILY MARKET TRENDS
Graphs show trends in market activity for the county comparing this year (dark lines) with last year (light lines) for the same period. Data is gathered from Multiple Listing Service (MLS) sources, reviewed for accuracy, and charted for easy comparison. Data shown is for single family homes only.
Data Source: MLS. Data is for single family homes only. THIS YEAR LAST YEAR
SAN FRANCISCO CONDOS
SALES BY DISTRICT · CONDOS · Q3 2024
DISTRICT 1
Central Richmond, Inner Richmond, Outer Richmond, Jordan Park/ Laurel Heights, Presidio, Lake Street, Sea Cliff, Lone Mountain
DISTRICT 2
Golden Gate Heights, Outer Parkside, Outer Sunset, Parkside, Central Sunset, Inner Sunset, Inner Parkside
DISTRICT 3
Lake Shore, Merced Heights, Pine Lake Park, Stonestown, Lakeside, Merced Manor, Ingleside, Ingleside Heights, Oceanview
DISTRICT 4
Balboa Terrace, Diamond Heights, Forest Hill, Forest Knolls, Ingleside Terrace, Midtown Terrace, Saint Francis Wood, Miraloma Park, Forest Hill Extension, Sherwood Forest, Mount Davidson Manor, Westwood Highlands, Westwood Park, Sunnyside, West Portal, Monterey Heights
DISTRICT 5
Glen Park, Haight Ashbury, Noe Valley, Twin Peaks, Cole Valley/Parnassus Heights, Buena Vista/Ashbury Heights, Castro, Corona Heights, Clarendon Heights, Duboce Triangle, Eureka Valley/Dolores Heights, Mission Dolores
DISTRICT 6
Anza Vista, Hayes Valley, Lower Pacific Heights, Western Addition, Alamo Square, North Panhandle
DISTRICT 7
Marina, Pacific Heights, Presidio Heights, Cow Hollow
DISTRICT 8
Downtown, Financial District/Barbary Coast, Nob Hill, North Beach, Russian Hill, Van Ness/Civic Center, Telegraph Hill, North Waterfront, Tenderloin
DISTRICT 9
Bernal Heights, Inner Mission, Mission Bay, Potrero Hill, South of Market, Yerba Buena, South Beach, Central Waterfront/ Dogpatch
DISTRICT 10
Bayview, Crocker
Amazon, Excelsior, Outer Mission, Visitacion Valley, Portola, Silver Terrace, Mission Terrace, Hunter’s Point, Bayview Heights, Candlestick, Little Hollywood
SAN FRANCISCO COUNTY CONDO MARKET TRENDS
Graphs show trends in market activity for the county comparing this year (dark lines) with last year (light lines) for the same period. Data is gathered from Multiple Listing Service (MLS) sources, reviewed for accuracy, and charted for easy comparison. Data shown is for condo, townhouse, stock cooperative, and tenant-in-common properties only.
A+W SAN FRANCISCO FEATURED PROPERTIES
Modern Masterpiece
$14,000,000
SOLD SOUTH OF MARKET
Four Seasons Residence
SEACLIFF
Sold Above Asking
$3,490,000
$2.700,000 SOLD NORTH BEACH Represented Buyer
Sold Above Asking
$1,550,000 SOLD PACIFIC HEIGHTS
COLE VALLEY Represented Buyer
$2,900,000
RUSSIAN HILL Represented Buyer
$2,595,000
$2,350,000 SOLD BERNAL HEIGHTS
$1,900,000
WESTWOOD PARK
Westwood Park Classic
FAST FACT : The Applegarth + Warrin Team has sold nearly $135 Million this year. SOLD PACIFIC HEIGHTS Elegant in Pacific Heights $1,420,000
A+W MARIN FEATURED
SAUSALITO
Premier Sausalito Estate
$11,995,000
Striking Modern Home
$5,995,000
Represented Buyer
$7,200,000
Iconic Beachfront Home
$11,995,000
Extraordinary Estate
$4,295,000
Represented Buyer
$5,650,000
SALE TIBURON
Tiburon View Home
$5,995,000
Belvedere Lagoon Estate
$8,750,000
Sold Off-Market
$4,750,000
DISTRICT 1 SALES
DISTRICT 2 SALES SUNSET AND PARKSIDE
DISTRICT 3 SALES OCEANVIEW TO LAKESHORE
DISTRICT 4 SALES
FOREST KNOLLS TO WESTWOOD PK
DISTRICT 5 SALES
HAIGHT ASHBURY TO GLEN PARK
DISTRICT 6 SALES
LOWER PAC HTS TO HAYES VALLEY
DISTRICT 7 SALES MARINA TO PACIFIC HEIGHTS
NORTH BEACH TO DOWNTOWN
DISTRICT 9 SALES SOUTH BEACH TO BERNAL HEIGHTS
POWER OF THE BRAND
SOTHEBY’S
Sotheby’s Auction House has over 200 years of history selling our clients’ treasures. Our association with the brand ensures stellar representation, brings cachet to your property and allows us access to affluent buyers around the world.
SOTHEBY’S INTERNATIONAL REALTY
With our distinguished global referral network we can find qualified buyers or quality agents for your next purchase from around the globe. Our listings achieve maximum sale price.
BAY AREA AND BEYOND
BAY AREA AND BEYOND FEATURED
LISTING
NEWPORT BEACH, CA
$60,000,000
Perched at the pinnacle of Crystal Cove, this newly constructed estate embodies the pursuit of perfection and privacy. Beyond secure gates on over a 3/4 acre of land, the home’s coastal positioning unveils sweeping 270-degree ocean views and priceless peace. Spanning 18,366 sq. ft. with 6 bedroom-suites and 12 bathrooms, this unmatched residence boasts luxurious accommodations, fine finishes, modern design elements, and sun-drenched living spaces. Every detail, from swathes of the highest quality stones and finest woods to advanced technology, is meticulously selected to deliver unparalleled comfort. The breathtaking two-story entry foyer, separating the formal living room and library/study, both with custom built-ins and Barghini marble fireplaces, showcases a bold glass orb chandelier, embraced by a three-story floating staircase, which highlights the vast scale. Listed by Pacific Sotheby’s International Realty.
For more information on this listing and others from our Southern California partners, call us at 415.289.8999.
BAY AREA AND BEYOND FEATURED LISTING
DENHAM, ENGLAND
$84,415,584
The history of this ambassadorial proportioned home dates back to 1688, with a residential and guest list of formidable characters that include noblemen, Hollywood producers, aristocrats and even Kings and Queens. It is no wonder that this is one of the UK’s most important country estates with palatial style and substance. Today, much of that grandeur is the result of the masterful restoration conducted by Alex Kravetz, whose lavish refurbishment history includes The Dorchester in London and The Imperial in Vienna. The eight-year project to transform Denham into a majestic palace of timeless opulence has been assisted by English Heritage and The Georgian Society and produced magnificent results that must be seen to be believed. Listed by United Kingdom Sotheby’s International Realty.
For more information on this listing and others from our global partners, call us at 415.289.8999.
BAY AREA AND BEYOND FEATURED LISTING
PARK CITY, UT
$16,900,000
Introducing Sky’s Edge, an extraordinary mountain retreat with world-class skiing just minutes away. Designed by Jean-Yves Lacroix, Sky’s Edge represents architecture in its purest form, with the structure of the home visible and the industrial elements of concrete, steel, and glass balanced by warm patinas and soft curves. This stunning property opens to an inviting sitting room with a standing fireplace and floor-to-ceiling views of the breathtaking valley and mountain range in the distance. An open-concept living area includes a gourmet kitchen, dining, and gathering area with oversized glass sliders leading to heated decks and terraces for easy indoor-outdoor living. Endless opportunities for hiking, biking, and groomed Nordic skiing just a short walk out the front door, with world-class skiing at Deer Valley and Park City Mountain Resort. Listed by Summit Sotheby’s International Realty.
For more information on this listing and others from our Ski Country partners, call us at 415.289.8999.
BAY AREA AND BEYOND FEATURED LISTING
NEW YORK, NY
$29,000,000
Redefining Manhattan penthouses in Carnegie Hill, this extremely glamorous and expansive residence is comprised of three full floors and crowned by a magnificent private terrace with 360-degree views, an all-weather fireplace, an outdoor kitchen, and a swimming pool. Luxuriously appointed and delivered fully furnished, this never-lived-in condominium designed by AD 100 designer Tony Ingrao presents a unique and rare opportunity. Spanning 7,000 square feet of interior space, this strikingly-designed and elegant home features 14-foot-high ceilings, rich architectural details and gorgeous finishes, and an abundance of light, as well as wonderful views of Park Avenue and Central Park. Luxurious details, such as wide-plank oak flooring, custom paneling and millwork, and complete home automation, set the tone for elegant living.
Listed by Sotheby’s International Realty, East Side Manhattan Brokerage.
For more information on this listing and others from our East Coast partners, call us at 415.289.8999.
BAY AREA AND BEYOND
FEATURED LISTING
LOS ANGELES , CA
$119,950,000
La Fin, translated as 'The End', aims to provide accommodation and entertainment on a scale comparable only to the world's finest hotels. An extraordinary estate perched atop Bel Air, redefines luxury living with unparalleled sophistication and breathtaking views. This meticulously crafted residence epitomizes opulence with 12 bedrooms, 17 baths. Every corner of La Fin exudes extravagance, from its grand glass-walled entryway and a majestic 44-foot crystal chandelier to a sprawling formal living room adorned with shimmering chandeliers and handcarved stone latticework around a monumental fireplace. The estate's lower level dedicated to entertainment and wellness, featuring a state-of-the-art wine cellar with a stunning Murano glass installation, a climate-controlled cigar lounge, and a sleek vodka tasting room. Listed by Sotheby’s International Realty, Beverly Hills Brokerage.
For more information on this listing and others from our Southern California partners, call us at 415.289.8999.
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