SF Market Update - 2018 Year in Review

ALAMO SQUARE

Offered at $6,300,000 701Scott.com

2018 Year in Review

San Francisco

Market Update

a message from

Jeffrey Gibson

San Francisco Brokerage Manager As we look back at sales data from San Francisco for the complete calendar year, we see that median sale price rose steadily compared to past years, reaching $1.6M for single-family homes, according to the San Francisco Association of Realtors (SFAR).* In contrast to several other regions across the United States, San Francisco demonstrated not only consistently increasing prices but also a decline in average days on market (DOM), dropping to just 28 days for single-family homes and condominiums across the city, compared to 33 days in 2017. Many districts and subdistricts participated in this trend, including District 7, with single-family home DOM down 28%, and Districts 1, 5 and 9, where DOM was down 15-16%. Cow Hollow had the lowest days on market for condos of our featured neighborhoods, at 21 days. In contrast, condos in the Financial District stayed on the market much longer, approximatively 76 days on average.

If you are looking to buy or sell real estate anywhere from Alamo Square to Woodside or beyond, the agents affiliated with our San Francisco brokerage can point you in the right direction. We firmly believe that they represent not just the best agents in the Bay Area, but the best agents in the entire United States. Our globally recognized brand keeps them in constant contact with elite clients around the world. They also enjoy the support of a tight-knit community of top performing agents in our San Francisco office, as well as our extended network of 970 offices in 72 countries and territories.

Sotheby’s International Realty remains the widely recognized luxury leader in Northern California and around the world, a position we’ve reached by providing the highest levels of professional guidance to our clients. We look forward to being of service to you.

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; 2018 data refer to sales 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. Photo credit: Rich Hay

cover: commanding st. regis residence | last asking $10,900,000

Though sales volume remained relatively flat across most districts compared to 2017, a few areas saw more growth in 2018, including condominium unit sales in District 1 which rose a robust 43%, and District 4 where they grew 23%. Though District 2 continued to have the highest ratio of median sale price to median asking price at 20%, relatively high-priced listings in Cow Hollow and Pacific Heights also outperformed their asking prices, selling for 10% and 9% respectively over list on average.

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*in order from left to right, top to bottom

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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

2018 Year in Review Highlights

Market Snapshot | by District

San Francisco

San Francisco Median Sale Prices

Price Ratio

by District

{Single Family Homes vs. Condos}

Highlight Median: SFH vs Condos San Fran

{Median Final Sale vs. Original List} $1,800,000 $1,600,000 $1,400,000 $1,200,000

1

8

$800,000 $600,000 $400,000

6

$200,000 $0

9

5

2

Districts

Median Sale Prices

4

-15%

2015

2016

2017

Condo Median Sales Price

-5%

0%

+5%

+10%

Highlight HighlightMedian Medianbybydistrict districtSFH SFH {Districts vs. San Francisco Overall}

District 1 District 4 District 5

$4,000,000 4,000,000

District 6 District 7

$3,000,000 3,000,000

+15%

+20%

+25%

2018

Condos

$5,000,000 5,000,000

10 -10%

2014

SFH Median Sales Price

Single Family Homes

District 8

$2,000,000 2,000,000

District 9

$1,000,000 1,000,000

San Francisco

$0 -20%

2013

$6,000,000 6,000,000

3 -25%

$1.570,000 $1,600,000 $1.196,500 $1,200,000

7

$1,000,000

2014

2014 2014

District11 District District66 District

2015

2015 2015

2016

2016 2016

District District 4 4 District District 7 7

2018

2017

20172017

2018 2018

5 DistrictDistrict 5 8 DistrictDistrict 8

2018 Highlights

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

5%

15%

7%

-

-16%

2018

$2,000,000

189

$994

11%

23

2017

$1,900,625

164

$928

12%

27

2016

$1,820,000

181

$862

8%

31

2015

$1,650,600

193

$875

16%

23

2014

$1,468,500

214

$755

13%

27

single family homes

1

{ 2018 vs. 2017 }

Change

at a glance {2018}

DISTRICT 1

Jordan Park Lake Laurel Heights Lone Mountain Outer Richmond Central Richmond Inner Richmond Sea Cliff

9

%

Median Sale Price | Single Family Homes vs. Condos Median Sales Price: SFH vs. Condos

Change in Median Sale Price { 2018 vs. 2017, Condominiums }

43

%

$2,000,000 $1,500,000 $1,000,000 $500,000

Change in Units Sold

$0

{ 2018 vs. 2017, Condominiums }

353

2014

2015

SFH Median Sales Price

2016

2017

2018

Condo Median Sales Price

Single Family Homes

Condos

Total Units Sold

2

$ m Median Sale Price { Single Family Homes }

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

9%

43%

8%

-

-12%

2018

$1,275,000

164

$974

11%

25

2017

$1,175,000

115

$901

12%

28

2016

$1,085,000

145

$852

9%

34

2015

$1,050,000

153

$820

13%

32

2014

$999,000

163

$743

12%

37

condominiums { 2018 vs. 2017 }

Change

District 1

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

10%

7%

3%

-

8%

2018

$1,735,000

324

$974

16%

22

2017

$1,575,000

302

$944

21%

20

2016

$1,437,400

316

$834

11%

29

2015

$1,422,500

336

$809

14%

25

2014

$1,222,500

308

$730

17%

26

single family homes

4

{ 2018 vs. 2017 }

Change

at a glance {2018}

DISTRICT 4

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos

Balboa Terrace Diamond Heights Forest Hill

$1,600,000

Forest Hill Extension

$1,400,000

Forest Knolls

$1,200,000

Ingleside Terrace

$1,000,000

Midtown Terrace

$800,000

Miraloma Park

$600,000

Monterey Heights

$400,000

Mt Davidson Manor

$200,000

Sherwood Forest

$0

2014

2015

2016

SFH Median Sales Price

2017

2018

Condo Median Sales Price

St. Francis Wood Sunnyside West Portal Westwood Highlands Westwood Park

21

%

Change in Median Sale Price { 2018 vs. 2017, Condominiums }

23

%

Change in Units Sold { 2018 vs. 2017, Condominiums }

377 Total Units Sold

1.7m

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

21%

23%

0%

-

-2%

$

2018

$879,000

53

$790

7%

35

Median Sale Price

2017

$725,000

43

$794

12%

35

2016

$660,000

25

$798

6%

49

2015

$685,000

51

$713

9%

32

2014

$587,000

60

$624

7%

31

condominiums { 2018 vs. 2017 }

Change

San Francisco 2018 Market Update / District 4

{ Single Family Homes }

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

0%

2%

6%

-

-16%

2018

$2,302,500

320

$1,237

15%

23

2017

$2,305,500

314

$1,167

16%

27

2016

$2,063,750

316

$1,081

9%

31

2015

$2,100,000

300

$1,122

17%

21

2014

$1,880,000

325

$980

11%

25

single family homes

5

{ 2018 vs. 2017 }

Change

at a glance {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

5

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos

% $2,500,000

Change in Median Sale Price { 2018 vs. 2017, Condominiums }

4

%

Change in Units Sold { 2018 vs. 2017, Condominiums }

764

$2,000,000 $1,500,000 $1,000,000 $500,000 $0

2014

2015

2016

SFH Median Sales Price

Single Family Homes

2017

2018

Condo Median Sales Price

Condos

Total Units Sold

2.3m

$

Median Sale Price { Single Family Homes }

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

5%

4%

7%

-

-15%

2018

$1,404,000

444

$1,146

15%

22

2017

$1,331,250

428

$1,069

11%

26

2016

$1,253,500

394

$1,012

9%

33

2015

$1,225,000

474

$1,025

23%

26

2014

$1,107,875

458

$899

14%

29

condominiums { 2018 vs. 2017 }

Change

District 5

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

9%

14%

-1%

-

-4%

2018

$2,755,000

40

$1,084

1%

31

2017

$2,535,000

35

$1,096

13%

32

2016

$2,277,500

36

$1,060

11%

42

2015

$2,250,000

37

$916

13%

25

2014

$2,250,000

45

$921

5%

30

single family homes

6

{ 2018 vs. 2017 }

Change

at a glance {2018}

DISTRICT 6

Median Sales Price: SFH vs. Condos

Alamo Square

Median Sale Price | Single Family Homes vs. Condos

Hayes Valley Western Addition

$3,000,000

Lower Pacific Heights

$2,500,000

Anza Vista

$2,000,000

North Panhandle (NoPa)

9

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

14

%

$1,500,000 $1,000,000 $500,000

Change in Units Sold

$0

{ 2018 vs. 2017, Single Family Homes }

2014

2015

2016

SFH Median Sales Price

2017

2018

Condo Median Sales Price

Single Family Homes

Condos

321 Total Units Sold

2.8m

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

4%

-7%

6%

-

4%

$

2018

$1,245,000

281

$1,074

14%

34

Median Sale Price

2017

$1,200,000

303

$1,012

10%

33

2016

$1,067,500

321

$1,008

8%

36

2015

$1,100,000

284

$943

13%

30

2014

$900,000

314

$825

11%

40

condominiums { 2018 vs. 2017 }

Change

San Francisco 2018 Market Update / District 6

{ Single Family Homes }

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-1%

2%

5%

-

-28%

2018

$4,730,000

99

$1,499

-3%

28

2017

$4,800,000

97

$1,427

-2%

40

2016

$4,700,000

102

$1,465

-2%

46

2015

$4,975,000

87

$1,493

8%

28

2014

$3,905,000

117

$1,211

3%

37

single family homes { 2018 vs. 2017 }

Change

at a glance {2018}

DISTRICT 7

The Marina Cow Hollow Pacific Heights Presidio Heights

-1

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

2

%

Change in Units Sold { 2018 vs. 2017, Single Family Homes}

389

7

$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

2017

2018

Condo Median Sales Price

Condos

Total Units Sold

4.7m

$

Median Sale Price { Single Family Homes }

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-5%

-7%

3%

-

-13%

2018

$1,497,500

290

$1,239

11%

24

2017

$1,575,000

313

$1,199

5%

28

2016

$1,458,500

298

$1,193

2%

34

2015

$1,495,000

261

$1,160

15%

24

2014

$1,341,000

318

$999

6%

33

condominiums { 2018 vs. 2017 }

Change

District 7

/ San Francisco 2018 Market Update

district 7

Neighborhood Highlights

District

Cow Hollow

Pacific Heights

{Median Sale Price | Condominiums over Five Years}

{Median Sale Price | Condominiums over Five Years}

Cow Hollow

10

%

$1,450,000 $1,400,000 $1,350,000 $1,300,000

21

$1,450,000

$

2015

2016

2017

2018

1,177

$/Square Foot

Marina

11

%

$1,800,000 $1,600,000

Median Sale vs. Original List

$1,400,000

22

$1,200,000 $1,000,000 $800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2016

2017

Median Sale vs. Original List

26

$1,400,000 $1,350,000

Average DOM

$1,300,000 $1,250,000

$

$1,200,000

2014

2015

2016

2017

2018

1,265

$/Square Foot

{Median Sale Price | Condominiums over Five Years}

Marina

2015

%

Presidio Heights

{Median Sale Price | Condominiums over Five Years}

2014

9

$1,550,000 $1,500,000

Average DOM

$1,200,000

Pacific Heights

Median Sale vs. Original List

$1,250,000

2014

7

2018

1,236

$/Square Foot

Presidio Heights

0

$2,500,000

Median Sale vs. Original List

$2,000,000

26

$1,500,000 $1,000,000

Average DOM

$500,000

$

$0

2014

%

2015

2016

2017

2018

District 7 Neighborhood Highlights

1,163

$/Square Foot

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

43%

-4%

19%

2018

$3,564,875

23

$1,316

-5%

37

2017

$2,497,500

24

$1,110

-2%

48

2016

$3,447,500

14

$1,389

-2%

55

2015

$2,826,500

22

$1,514

26%

51

2014

$2,757,000

23

$1,156

-1%

45

single family homes

8

Median Sale vs. Average Days Original List on Market

{ 2018 vs. 2017 }

Change

-23%

at a glance {2018}

DISTRICT 8

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos

Civic Center Downtown Financial District

$4,000,000

North Beach

$3,500,000

Russian Hill

$3,000,000 $2,500,000

Nob Hill

$2,000,000

Telegraph Hill

$1,500,000

Tenderloin

$1,000,000

North Waterfront

$500,000

43

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

-1

%

Change in Units Sold

$0

{ 2018 vs. 2017, Condominiums }

2014

2015

2016

SFH Median Sales Price

Single Family Homes

2017

2018

Condo Median Sales Price

Condos

505 Total Units Sold

3.6m

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-1%

-1%

1%

-

-9%

$

2018

$1,085,000

482

$1,151

5%

40

Median Sale Price

2017

$1,100,000

489

$1,140

5%

44

2016

$998,000

467

$1,112

4%

36

2015

$1,050,000

452

$1,089

6%

35

2014

$896,500

538

$963

5%

43

condominiums { 2018 vs. 2017 }

Change

San Francisco 2018 Market Update / District 8

{ Single Family Homes }

district 8

Neighborhood Highlights

District

Financial District

North Waterfront

{Median Sale Price | Condominiums over Five Years}

{Median Sale Price | Condominiums over Five Years}

Financial District/B

-7

$2,500,000

%

Median Sale vs. Original List

$2,000,000

76

$1,500,000 $1,000,000

Average DOM

$500,000

$

$0

2014

2015

2016

2017

2018

1,155

$/Square Foot

Nob Hill

4

%

$1,320,000 $1,300,000 $1,280,000 $1,260,000 $1,240,000 $1,220,000 $1,200,000 $1,180,000 $1,160,000 $1,140,000 $1,120,000 $1,100,000

Median Sale vs. Original List

50

Average DOM

$

2016

2017

0

%

$1,200,000

Median Sale vs. Original List

$1,000,000

35

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,009

$/Square Foot

{Median Sale Price | Condominiums over Five Years}

Nob Hill

2015

North Waterfront

Russian Hill

{Median Sale Price | Condominiums over Five Years}

2014

8

2018

1,211

$/Square Foot

Russian Hill

5

%

$1,800,000 $1,600,000

Median Sale vs. Original List

$1,400,000

33

$1,200,000 $1,000,000 $800,000 $600,000

Average DOM

$400,000

$

$200,000 $0

2014

2015

2016

2017

2018

District 8 Neighborhood Highlights

1,261

$/Square Foot

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

6%

-9%

2%

-

-15%

2018

$1,617,500

240

$1,062

18%

20

2017

$1,523,000

263

$1,036

18%

24

2016

$1,405,000

247

$1,000

18%

31

2015

$1,380,000

263

$956

16%

23

2014

$1,200,000

233

$838

22%

28

single family homes

9

{ 2018 vs. 2017 }

Change

at a glance {2018}

DISTRICT 9

Bernal Heights Dogpatch Inner Mission Mission Bay Potrero Hill South Beach SoMa Yerba Buena

6

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

-9

%

Change in Units Sold { 2018 vs. 2017, Single Family Homes }

1,325

$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

2017

2018

Condo Median Sales Price

Condos

Total Units Sold

1.6m

$

Median Sale Price { Single Family Homes }

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

6%

5%

9%

-

-16%

2018

$1,131,000

1,085

$1,152

5%

35

2017

$1,070,000

1,035

$1,055

7%

42

2016

$1,027,500

956

$1,054

3%

44

2015

$1,059,650

1,046

$1,075

6%

33

2014

$915,500

1,158

$959

8%

33

condominiums { 2018 vs. 2017 }

Change

District 9

/ San Francisco 2018 Market Update

district 9

Neighborhood Highlights

District

Bernal Heights

SoMa

{Median Sale Price | Single Family Homes over Five Years}

Bernal Heights

13

Median Sale vs. Original List

$1,000,000

27

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

{Median Sale Price | Condominiums over Five Years} %

$1,200,000

2015

2016

2017

2018

1,016

$/Square Foot

Inner Mission

21

%

$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000

$200,000

Median Sale vs. Original List

$900,000

36

$850,000 $800,000

Average DOM

$750,000

$

$700,000

2014

2015

2016

2017

1,049

$/Square Foot

2018

$0

2018

South Beach

-2

%

$1,300,000 $1,250,000

Median Sale vs. Original List

30

$1,200,000

47

$

2017

%

Median Sale vs. Original List

Average DOM

$400,000

2016

4

$950,000

{Median Sale Price | Condominiums over Five Years}

Inner Mission

2015

South of Market

South Beach

{Median Sale Price | Condominiums over Five Years}

2014

9

1,065

$/Square Foot

$1,150,000

Average DOM

$1,100,000 $1,050,000

$

$1,000,000

2014

2015

2016

2017

2018

District 9 Neighborhood Highlights

1,303

$/Square Foot

/ San Francisco 2018 Market Update

SAN FRANCISCO

Extraordinary Results We celebrate the notable success of our associates and clients

PACIFIC HEIGHTS

Pacific Heights Garden Home Last Asking $7,000,000 PACIFIC HEIGHTS

Elegant Home Fronting Alta Plaza Last Asking $4,995,000 BERNAL HEIGHTS

Art House on Elsie Street Last Asking $3,495,000 RUSSIAN HILL

Rare Russian Hill Contemporary Last Asking $3,200,000 NOEMARINA VALLEY

Five BedroomHarmonious Contemporary View Home Contemporary Last Asking Asking $6,840,000 $5,400,000 Last

*in order from left to right, top to bottom

sothebyshomes.com/sanfrancisco

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