ALAMO SQUARE
Offered at $6,300,000 701Scott.com
Q2 | 2018
San Francisco
Market Update
a message from
Jeffrey Gibson
San Francisco Brokerage Manager Sotheby’s International Realty is synonymous with luxury real estate in the Bay Area. We believe that luxury is an experience, not a price point. Buying and selling real estate can be an emotional experience as well as a business decision, and we focus on the human interaction that is essential to a successful transaction. Whether our clients are searching for an estate in Pacific Heights or a 1-bedroom condominium, we provide the same bespoke service. Drawing on our global network of 950 offices in 69 countries, we offer our clients an incomparable global reach, including the power of a website visited by 27 million people a year, 60% of whom are from overseas*. As the San Francisco market warmed up from the slower months of Q1, median prices continued a steady rise overall, to $1.62 million for single-family homes according to the San Francisco Association of Realtors (SFAR). Areas such as Districts 1 and 4 also saw a significant increase in units brought to market: District 1, which includes the dynamic Outer Richmond area, saw the number of condo sales fully double compared to Q2 2017 while single-family home sale units rose 26%. In District 4, unit sales in both categories were up 15%. Single-family homes and condominiums sold for well over their asking price in both areas, by 14% in District 1 and a remarkable 19% in District 4.
As we move through the summer months, we look forward to being of service to you in the sale or purchase of real estate, whether in the Bay Area or around the world. We take great pride in using our expertise, resources, and global connections to unite extraordinary homes with the extraordinary people who will live in them.
SAN FRANCISCO BROKERAGE
Jeffrey Gibson Senior Vice President & Brokerage Manager 117 Greenwich Street | San Francisco, CA 94111
sothebyshomes.com/sanfrancisco Source: San Francisco Multiple Listing Service (SFMLS)/InfoSparks; Q2 data refer to sales from 4/1 - 6/30 for the year(s) specified. Data within this document are drawn from the SFAR MLS, BAREIS, and/or MLS Listings. *Web data 1/1-12/31/17. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. SIR DRE: 899496. Jeffrey Gibson DRE: 01407690
cover: parisian salon atop pacific heights | 1901ca3.com
District 7, which includes Pacific Heights, experienced a modest 10% decline in total unit sales as reported to the MLS, but condominium sale prices continued to swell well beyond listing prices, by 16% in Cow Hollow and Presidio Heights, and 14% in the Marina. Days on market were also exceptionally low in the same areas, at only 13 days in Cow Hollow and 18 days in the Marina. In District 8, which includes SoMa and Bernal Heights, median prices rose a robust 55% on a low volume of single-family homes, and ticked up 13% for condominiums.
BAY AREA
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San Francisco featured neighborhoods
district 1
jordan park, lake, laurel heights, richmond, sea cliff
district 4
balboa terrace, diamond heights, west portal
district 5
clarendon heights, dolores heights, noe valley
district 6
alamo square, hayes valley, lower pac hgts, nopa
district 7
marina, cow hollow, pacific heights, presidio heights
district 8
financial dist, russian hill, nob hill, telegraph hill
district 9
bernal heights, south beach, soma, yerba buena
San Francisco
Market Snapshot | by District
Price Ratio by District
-25%
-20%
{Median Final Sale vs. Original List}
-15%
-10%
-5%
0%
+5%
+10%
+15%
+20%
+25%
Q2 2018 Highlights San Francisco
Highlight Median: SFH vs Condos San Fran
San Francisco
{Single Family Homes vs. Condos}
Median Sale Prices $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000
$600,000 $400,000 $200,000 $0
2013
2014
2015
SFH Median Sales Price
2016
2017
Condo Median Sales Price
Single Family Homes
$1.235,000
$1.620,000
$800,000
2018
Condos
Highlight Median by district SFH
Districts
{Districts vs. San Francisco Overall}
Median Sale Prices $7, 000,000 $6,000,000
District 1
$5,000, 000
District 4 District 5
$4,000,000
District 6
$3,000,000
District 7
$2,000,000
District 8 District 9
$1, 000,000
San Francisco
$-
2014 District 1
2015 District 4
2016 District 5
2017 District 6
2018 District 7
Q2 Highlights
District 8
District 9
/ San Francisco Q2 Market Update
at a glance {Q2 | 2018}
DISTRICT 1
Jordan Park Lake Laurel Heights Lone Mountain Outer Richmond Central Richmond Inner Richmond Sea Cliff
1
%
Change in Median Sale Price { 2018 vs. 2017, Condominiums }
100
%
Change in Units Sold { 2018 vs. 2017, Condominiums }
117
Total Units Sold
2
$ m Median Sale Price { Single Family Homes }
District Q2
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
13%
26%
12%
-
-16%
2018
$2,001,224
63
1,000
11%
20
2017
$1,768,000
50
889
11%
24
2016
$1,822,000
57
855
10%
26
2015
$1,885,000
67
918
14%
16
2014
$1,605,000
57
782
23%
19
single family homes
1
{ 2018 vs. 2017 }
Change
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2014
2015
2016
SFH Median Sales Price
Single Family Homes
Q2
2017
2018
Condo Median Sales Price
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
1%
100%
7%
-
2%
2018
$1,247,500
54
1,003
25%
21
2017
$1,230,000
27
934
17%
21
2016
$1,027,500
40
851
4%
39
2015
$1,125,000
38
854
13%
26
2014
$884,500
48
739
4%
38
condominiums { 2018 vs. 2017 }
Change
District 1
/ San Francisco Q2 Market Update
District Q2
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
13%
15%
6%
-
-13%
2018
$1,813,250
100
1,019
22%
17
2017
$1,605,000
87
960
19%
19
2016
$1,500,000
90
840
15%
25
2015
$1,442,500
94
833
13%
20
2014
$1,362,500
76
734
16%
27
single family homes
4
{ 2018 vs. 2017 }
Change
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
2014
2015
2016
SFH Median Sales Price
Q2
2017
2018
Condo Median Sales Price
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
6%
15%
18%
-
-60%
2018
$770,000
15
876
3%
19
2017
$725,000
13
740
7%
48
2016
$662,500
8
783
1%
37
2015
$792,500
14
690
9%
35
2014
$574,500
18
635
14%
22
condominiums { 2018 vs. 2017 }
Change
San Francisco Q2 Market Update / District 4
at a glance {Q2 | 2018}
DISTRICT 4
Balboa Terrace Diamond Heights Forest Hill Forest Hill Extension Forest Knolls Ingleside Terrace Midtown Terrace Miraloma Park Monterey Heights Mt Davidson Manor Sherwood Forest St. Francis Wood Sunnyside West Portal Westwood Highlands Westwood Park
10
%
Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }
15
%
Change in Units Sold { 2018 vs. 2017, Condominiums }
115
Total Units Sold
1.8m
$
Median Sale Price { Single Family Homes }
at a glance {Q2 | 2018}
DISTRICT 5
Ashbury Heights Buena Vista Clarendon Heights Corona Heights Cole Valley Castro Dolores Heights Duboce Triangle Eureka Valley Glen Park Haight Ashbury Noe Valley Twin Peaks Mission Dolores
11
%
Change in Median Sale Price { 2018 vs. 2017, Condominiums }
-2
%
Change in Units Sold { 2018 vs. 2017, Condominiums }
220 Total Units Sold
2.4m
$
Median Sale Price { Single Family Homes }
District Q2
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
-2%
-10%
6%
-
-21%
2018
$2,350,000
82
1,219
18%
22
2017
$2,400,000 91
1,150
9%
28
2016
$1,950,000
92
1,069
9%
28
2015
$2,155,000
84
1,125
20%
19
2014
$1,935,000
87
992
15%
20
single family homes
5
{ 2018 vs. 2017 }
Change
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2014
2015
2016
SFH Median Sales Price
2018
Condo Median Sales Price
Single Family Homes
Q2
2017 Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
11%
-2%
8%
-
-16%
2018
$1,425,000
138
1,165
19%
21
2017
$1,280,000
141
1,080
16%
25
2016
$1,300,000
104
1,031
9%
27
2015
$1,225,000
165
1,030
23%
20
2014
$1,010,000
136
933
13%
25
condominiums { 2018 vs. 2017 }
Change
District 5
/ San Francisco Q2 Market Update
District Q2
single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
139%
0%
-1%
-
-50%
6
{ 2018 vs. 2017 }
Change 2018
$4,300,000 7
1,226
3%
20
2017
$1,800,000
1,242
0%
39
2016
$2,305,000 9
990
0%
49
2015
$1,821,500
8
855
8%
29
2014
$2,725,000
11
1,067
19%
21
7
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2014
2015
2016
SFH Median Sales Price
2018
Condo Median Sales Price
Single Family Homes
Q2
2017 Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
9%
-13%
3%
-
12%
2018
$1,240,001
84
1,042
11%
33
2017
$1,140,000
97
1,007
14%
29
2016
$1,175,000
71
973
18%
34
2015
$1,045,000
75
966
16%
28
2014
$910,000
77
851
14%
34
condominiums { 2018 vs. 2017 }
Change
San Francisco Q2 Market Update / District 6
at a glance {Q2 | 2018}
DISTRICT 6
Alamo Square Hayes Valley Western Addition Lower Pacific Heights Anza Vista North Panhandle (NoPa)
9
%
Change in Median Sale Price { 2018 vs. 2017, Condominiums }
-13
%
Change in Units Sold { 2018 vs. 2017, Condominiums }
91
Total Units Sold
4.3m
$
Median Sale Price { Single Family Homes }
at a glance {Q2 | 2018}
DISTRICT 7
The Marina Cow Hollow Pacific Heights Presidio Heights
10
%
Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }
-13
%
Change in Units Sold { 2018 vs. 2017, Condominiums }
121
Total Units Sold
5.9m
$
Median Sale Price { Single Family Homes }
District Q2
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
10%
0%
13%
-
-60%
2018
$5,869,000
30
1,620
0%
15
2017
$5,324,000
30
1,439
-4%
38
2016
$4,725,000
33
1,457
-1%
48
2015
$4,750,000
31
1,543
-5%
19
2014
$3,700,000
34
1,226
4%
45
single family homes { 2018 vs. 2017 }
Change
7
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
2014
2015
2016
SFH Median Sales Price
Single Family Homes
Q2
2017
2018
Condo Median Sales Price
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
-1%
-13%
4%
-
-28%
2018
$1,506,300
91
1,318
16%
19
2017
$1,525,000
105
1,263
5%
26
2016
$1,562,500
82
1,197
5%
30
2015
$1,507,507
64
1,177
20%
21
2014
$1,310,000
99
993
9%
28
condominiums { 2018 vs. 2017 }
Change
District 7
/ San Francisco Q2 Market Update
district 7
Neighborhood Highlights Cow Hollow
{Median Sale Price | Condominiums over Five Years}
Cow Hollow
16
$1,600,000 $1,400,000
Median Sale vs. Original List
$1,200,000
13
$1,000,000 $800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2014
%
2015
2016
2017
2018
1,152
$/Square Foot
Marina
{Median Sale Price | Condominiums over Five Years}
Marina
14
%
$1,800,000 $1,600,000
Median Sale vs. Original List
$1,400,000
18
$1,200,000 $1,000,000 $800,000
Average DOM
$600,000 $400,000
$
$200,000 $0
2014
2015
2016
2017
2018
1,227
$/Square Foot
District
7
Pacific Heights
{Median Sale Price | Condominiums over Five Years}
Pacific Heights
6
%
$1,800,000 $1,600,000
Median Sale vs. Original List
$1,400,000
20
$1,200,000 $1,000,000 $800,000
Average DOM
$600,000 $400,000
$
$200,000 $0
2014
2015
2016
2017
2018
1,365
$/Square Foot
Presidio Heights
{Median Sale Price | Condominiums over Five Years}
Presidio Heights
16
$3,000,000 $2,500,000
Median Sale vs. Original List
24
$2,000,000 $1,500,000
Average DOM
$1,000,000 $500,000
$
$0
2014
%
2015
2016
2017
2018
District 7 Neighborhood Highlights
1,422
$/Square Foot
/ San Francisco Q2 Market Update
District Q2
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
55%
-13%
19%
-
11%
2018
$3,564,875
7
1,499
19%
45
2017
$2,300,000 8
1,257
-6%
41
2016
$3,185,000
6
1,241
-4%
44
2015
$2,222,000 7
1,300
11%
17
2014
$3,191,000
1,237
4%
86
single family homes { 2018 vs. 2017 }
Change
8
8
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2014
2015
2016
SFH Median Sales Price
2018
Condo Median Sales Price
Single Family Homes
Q2
2017 Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
13%
-12%
3%
-
-27%
2018
$1,100,000
129
1,161
10%
32
2017
$971,000
146
1,127
2%
43
2016
$1,085,000
131
1,100
9%
30
2015
$1,112,500
138
1,145
12%
34
2014
$945,000
146
943
9%
42
condominiums { 2018 vs. 2017 }
Change
San Francisco Q2 Market Update / District 8
at a glance {Q2 | 2018}
DISTRICT 8
Civic Center Downtown Financial District North Beach Russian Hill Nob Hill Telegraph Hill Tenderloin North Waterfront
13
%
Change in Median Sale Price { 2018 vs. 2017, Condominiums }
-12
%
Change in Units Sold { 2018 vs. 2017, Condominiums }
136 Total Units Sold
3.6m
$
Median Sale Price { Single Family Homes }
district 8
Neighborhood Highlights Financial District
{Median Sale Price | Condominiums over Five Years}
Financial District/B
-3
$1,800,000 $1,600,000
Median Sale vs. Original List
$1,400,000
52
$1,200,000 $1,000,000 $800,000
Average DOM
$600,000 $400,000 $200,000
$
$0
2014
%
2015
2016
2017
2018
1,304
$/Square Foot
Nob Hill
{Median Sale Price | Condominiums over Five Years}
Nob Hill
8
%
$1,800,000 $1,600,000
Median Sale vs. Original List
$1,400,000
39
$1,200,000 $1,000,000 $800,000
Average DOM
$600,000 $400,000
$
$200,000 $0
2014
2015
2016
2017
2018
1,164
$/Square Foot
District
8
North Waterfront
{Median Sale Price | Condominiums over Five Years}
North Waterfront
0
%
$1,200,000
Median Sale vs. Original List
$1,000,000
20
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2014
2015
2016
2017
2018
1,021
$/Square Foot
Russian Hill
{Median Sale Price | Condominiums over Five Years}
Russian Hill
5
$2,500,000 $2,000,000
%
Median Sale vs. Original List
29
$1,500,000 $1,000,000
Average DOM $500,000
$
$0
2014
2015
2016
2017
2018
District 8 Neighborhood Highlights
1,340
$/Square Foot
/ San Francisco Q2 Market Update
at a glance {Q2 | 2018}
DISTRICT 9
Bernal Heights Dogpatch Inner Mission Mission Bay Potrero Hill South Beach SoMa Yerba Buena
9
%
Change in Median Sale Price { 2018 vs. 2017, Condominiums }
-6
%
Change in Units Sold { 2018 vs. 2017, Single Family Homes }
406 Total Units Sold
1.7m
$
Median Sale Price { Single Family Homes }
District Q2
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
8%
-6%
7%
-
-31%
2018
$1,675,000
75
1,091
12%
16
2017
$1,550,000
80
1,019
11%
22
2016
$1,385,000
78
988
22%
27
2015
$1,460,000
63
1,015
22%
20
2014
$1,170,000
56
875
23%
25
single family homes
9
{ 2018 vs. 2017 }
Change
Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
2014
2015
2016
SFH Median Sales Price
Single Family Homes
Q2
2017
2018
Condo Median Sales Price
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Median Sale vs. Average Days Original List on Market
9%
28%
11%
-
-26%
2018
$1,200,000
331
1,171
9%
30
2017
$1,100,000
259
1,051
7%
41
2016
$1,132,000
260
1,090
3%
41
2015
$1,069,000
321
1,100
7%
30
2014
$905,000
345
997
7%
27
condominiums { 2018 vs. 2017 }
Change
District 9
/ San Francisco Q2 Market Update
district 9
Neighborhood Highlights Bernal Heights
{Median Sale Price | Single Family Homes over Five Years}
Bernal Heights SFH
-14
%
$1,600,000 $1,400,000
Median Sale vs. Original List
$1,200,000
15
$1,000,000 $800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2014
2015
2016
2017
2018
1,101
$/Square Foot
Inner Mission
{Median Sale Price | Condominiums over Five Years}
Inner Mission
7
$1,400,000 $1,200,000
Median Sale vs. Original List
$1,000,000
28
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2014
%
2015
2016
2017
2018
1,104
$/Square Foot
District
9
SoMa
{Median Sale Price | Condominiums over Five Years}
South of Market
6
%
$1,200,000 $1,000,000
Median Sale vs. Original List
$800,000
26
$600,000 $400,000
Average DOM
$200,000
$
$0
2014
2015
2016
2017
2018
1,076
$/Square Foot
South Beach
{Median Sale Price | Condominiums over Five Years}
South Beach
-2
%
$1,400,000 $1,200,000
Median Sale vs. Original List
$1,000,000
40
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2014
2015
2016
2017
2018
District 9 Neighborhood Highlights
1,247
$/Square Foot
/ San Francisco Q2 Market Update
SAN FRANCISCO
Extraordinary Results We celebrate the notable success of our associates and clients
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PRESIDIO HEIGHTS
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Alta Plaza Park Grand Victorian Home Last Asking $7,995,000 MARINA
Handsome Contemporary Design Last Asking $6,595,000 FINANCIAL DISTRICT
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