Q2 | 2017
San Francisco
Market Update
PACIFIC HEIGHTS
sothebyshomes.com/0088471 Last Asking $40,000,000
a message from
Jeffrey Gibson
San Francisco Brokerage Manager In the second quarter of 2017, low inventory coupled with steady demand kept San Francisco in a strong, yet moderating housing market. According the San Francisco Multiple Listing Service, the median sales price for a single-family home rose 7% in the City year-over-year, from $1,350,000 in Q2 2016 to $1,450,000 in Q2 2017. In Q2 2017, 625 single-family homes were sold, a 4% decrease compared to the 654 single-family homes sold in Q2 2016. Strong buyer demand led to a 21% higher final sales price vs. original list price ratio for singlefamily homes. Unlike single-family homes, the total number of condo/co-ops/ TIC units sold in the second quarter increased 5% from 748 in Q2 2016 to 785 in Q2 2017—the first increase recorded for condo/co-op/TIC sales in Q2 since 2013. The median sales price for condos/co-ops/TIC across all of San Francisco increased to $1,150,000, a modest 2% year-over-year increase from Q2 2016. While most of San Francisco saw moderate gains, some Districts in the City experienced above-average gains in median sales price. In District 5, the median sales price for single-family homes climbed 23% year-over-year, increasing from $1,950,000 in Q2 2016 to $2,400,000 in Q2 2017. That median sales price continued to grow as the total number of single-family homes sold remained relatively flat from 91 units in Q2 2016 to 88 units in Q2 2017. Notably, the median sales price for a condo/co-op/TIC in District 1 rose 25% in Q2 year-over-year. The total number of condo/co-ops/TICs sold in District 1 fell 35%, down from 40 units in Q2 2016 to 26 units in Q2 2017.
SAN FRANCISCO BROKERAGE
Jeffrey Gibson, Senior Vice President & Brokerage Manager 117 Greenwich Street | San Francisco, CA 94111 | 415.901.1700 sothebyshomes.com/sanfrancisco
All data within this document is pulled from the San Francisco MLS. 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.
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Market Snapshot
San Francisco | by District
Price Ratio by District
{Average Final Sale vs. Original List}
7 1
6 4
3 -20%
9
5
2
-25%
8
-15%
10 -10%
-5%
NO CHANGE
+5%
+10%
+15%
+20%
+25%
Q2 Highlights San Francisco
Median Highlight Median: SFH vs Condos San Fran Sale Price
{Single Family Homes vs. Condos}
$3,000,000 $2,500,000 $2,000,000 $1,500,000
Single Family
$1,000,000
Condos
$500,000 $0
2013
2014
2015 SFH SF
Median Sale Price
2016
2017
Condos SF
Highlight Median by district SFH
{Districts vs. San Francisco Overall}
$6,000,000
District 1
$5,000,000
District 4
$4,000,000
District 5 District 6
$3,000,000
District 7
$2,000,000
District 8 $1,000,000
District 9 San Francisco
$-
2013
2014 District 1 District 6 District 9
2015 District 4 District 7 San Francisco
2016
2017 District 5 District 8 Q2 Highlights
/ San Francisco Q2 Market Update
at a glance {Q2 | 2017}
district 1
JORDAN PARK LAKE LAUREL HEIGHTS LONE MOUNTAIN OUTER RICHMOND CENTRAL RICHMOND INNER RICHMOND SEA CLIFF
25
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
-35
%
Change in Units Sold {2017 vs. 2016, Condominiums}
74
Total Units Sold
1.8m
$
Median Sale Price {Single Family Homes}
District Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-3%
-16%
5%
-
-7%
2017
$1,768,000
48
$883
11%
24
2016
$1,822,000 57
$837
10%
26
2015
$1,885,000 67
$937
14%
16
2014
$1,605,000 57
$787
23%
19
2013
$1,431,500
$698
8%
37
single family homes
1
{2017 vs. 2016}
Change
70
District 1 SFH vs Condos
Median Sale Price | Single Family Homes vs. Condos $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0
2013
2014
2015 D1 Condos
Single Family Homes
condominiums
2016
2017
D1 SFH
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
25%
-35%
9%
-
-48%
{2017 vs. 2016}
Change 2017
$1,285,000 26
$910
20%
20
2016
$1,027,500
40
$838
4%
39
2015
$1,125,000
38
$839
13%
26
2014
$884,500
48
$745
4%
38
2013
$845,000
39
$636
10%
31
District 1
/ San Francisco Q2 Market Update
District single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
7%
-4%
16%
-
-24%
{2017 vs. 2016}
Change 2017
$1,604,950 86
$924
19%
19
2016
$1,500,000 90
$793
15%
25
2015
$1,442,500 94
$805
13%
20
2014
$1,362,500 76
$715
16%
27
2013
$1,146,000
$625
18%
33
89
District 4 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
2013
2014
2015 Series1
Single Family Homes
2016
2017
D4 SFH
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
9%
63%
2%
-
32%
2017
$725,000
13
$749
7%
48
2016
$662,500
8
$736
1%
37
2015
$792,500
14
$661
9%
35
2014
$574,500
18
$617
14%
22
2013
$460,000
19
$526
15%
64
condominiums {2017 vs. 2016}
Change
San Francisco Q2 Market Update / District 4
4
at a glance {Q2 | 2017}
district 4
BALBOA TERRACE DIAMOND HEIGHTS FOREST HILL FOREST HILL EXTENSION FOREST KNOLLS INGLESIDE TERRACE MIDTOWN TERRACE MIRALOMA PARK MONTEREY HEIGHTS MOUNT DAVIDSON MANOR SHERWOOD FOREST ST. FRANCIS WOOD SUNNYSIDE WEST PORTAL WESTWOOD HIGHLANDS WESTWOOD PARK
9
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
63
%
Change in Units Sold {2017 vs. 2016, Condominiums}
99
Total Units Sold
1.6m
$
Median Sale Price {Single Family Homes}
at a glance {Q2 | 2017}
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
23
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
34
%
Change in Units Sold {2017 vs. 2016, Condominiums}
227 Total Units Sold
2.4m
$
Median Sale Price {Single Family Homes}
District single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
23%
-3%
4%
-
3%
5
{2017 vs. 2016}
Change 2017
$2,400,000 88
$1,091
9%
29
2016
$1,950,000 91
$1,048
8%
28
2015
$2,155,000 84
$1,090
20%
19
2014
$1,935,000 87
$953
15%
20
2013
$1,560,000 111
$835
12%
29
District 5 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
2013
2014
2015 D5 Condos
Single Family Homes
condominiums
2016
2017
D5 SFH
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-2%
34%
6%
-
-8%
{2017 vs. 2016}
Change 2017
$1,280,000 139
$1,070
16%
25
2016
$1,300,000 104
$1,013
9%
27
2015
$1,225,000 165
$1,017
23%
20
2014
$1,010,000
136
$916
13%
25
2013
$918,000
154
$763
10%
34
District 5
/ San Francisco Q2 Market Update
District single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-22%
-22%
22%
-
20%
{2017 vs. 2016}
Change 2017
$1,800,000 7
$1,184
0%
39
2016
$2,305,000 9
$967
0%
49
2015
$1,821,500
8
$834
8%
29
2014
$2,725,000 11
$951
19%
21
2013
$2,250,000 11
$814
13%
34
District 6 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
2013
2014
2015 D6 Condos
Single Family Homes
2016
2017
D6 SFH
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
1%
30%
4%
-
-12%
2017
$1,185,000
92
$1,009
19%
30
2016
$1,175,000
71
$966
18%
34
2015
$1,045,000 75
$929
16%
28
2014
$910,000
77
$839
14%
34
2013
$799,675
96
$731
7%
36
condominiums {2017 vs. 2016}
Change
San Francisco Q2 Market Update / District 6
6
at a glance {Q2 | 2017}
district 6
ALAMO SQUARE HAYES VALLEY WESTERN ADDITION LOWER PACIFIC HEIGHTS ANZA VISTA NORTH PANHANDLE (NOPA)
-22
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
30
%
Change in Units Sold {2017 vs. 2016, Condominiums}
99
Total Units Sold
1.8m
$
Median Sale Price {Single Family Homes}
at a glance {Q2 | 2017}
district 7
THE MARINA COW HOLLOW PACIFIC HEIGHTS PRESIDIO HEIGHTS
13
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
24
%
Change in Units Sold {2017 vs. 2016, Condominiums}
132 Total Units Sold
5.3m
$
Median Sale Price {Single Family Homes}
District single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
13%
-9%
-1%
-
-21%
7
{2017 vs. 2016}
Change 2017
$5,324,000 30
$1,446
-4%
38
2016
$4,725,000 33
$1,453
-1%
48
2015
$4,750,000 31
$1,483
-5%
19
2014
$3,700,000 34
$1,195
4%
45
2013
$3,200,000 47
$1,129
7%
26
District 7 SFH vs Condos Median Sale Price | Single Family Homes vs. Condos $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
2013
2014
2015 Series1
Single Family Homes
condominiums
2016
2017
D7 SFH
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
1%
24%
9%
-
-13%
{2017 vs. 2016}
Change 2017
$1,580,000 102
$1,317
6%
26
2016
$1,562,500 82
$1,206
5%
30
2015
$1,507,507
64
$1,215
20%
21
2014
$1,310,000
99
$1,010
9%
28
2013
$1,210,000
116
876
11%
44
District 7
/ San Francisco Q2 Market Update
district 7
Neighborhood Highlights Cow Hollow
{Median Sale Price | Condominiums over Five Years}
Cow Hollow
-6
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
25
$1,000,000 $750,000
Average DOM
$500,000 $250,000
$
$0
2013
%
2014
2015
2016
2017
1,259
$/Square Foot
Marina
{Median Sale Price | Condominiums over Five Years}
Marina
-3
%
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
20
$1,000,000 $750,000
Average DOM
$500,000
$
$250,000 $0
2013
2014
2015
2016
2017
1,206
$/Square Foot
District
7
Pacific Heights
{Median Sale Price | Condominiums over Five Years}
Pacific Heights
-7
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
29
$1,000,000 $750,000
Average DOM
$500,000 $250,000
$
$0
2013
%
2014
2015
2016
2017
1,341
$/Square Foot
Presidio Heights
{Median Sale Price | Condominiums over Five Years}
Presidio Heights
-6
$3,000,000
Final Sale vs. Original List
$2,500,000
5
$2,000,000 $1,500,000
Average DOM
$1,000,000 $500,000
$
$0
2013
%
2014
2015
2016
2017
District 7 Neighborhood Highlights
1,421
$/Square Foot
/ San Francisco Q2 Market Update
District single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-28%
33%
2%
-
-6%
{2017 vs. 2016}
Change 2017
$2,300,000 8
$1,263
-6%
41
2016
$3,185,000 6
$1,235
-4%
44
2015
$2,222,000 7
$1,305
11%
17
2014
$3,191,000
8
$1,277
4%
86
2013
$2,562,500 8
$1,154
12%
28
District 8 SFH vs Condos
Median Sale Price | Single Family Homes vs. Condos $3,850,000 $3,300,000 $2,750,000 $2,200,000 $1,650,000 $1,100,000 $550,000 $0
2013
2014
2015 D8 Condos
Single Family Homes
2016
2017
D8 SFH
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-13%
3%
-1%
-
36%
2017
$940,000
135
$1,156
-1%
40
2016
$1,085,000 131
$1,171
9%
30
2015
$1,112,500
138
$1,254
12%
34
2014
$945,000
146
$982
9%
42
2013
$845,000
163
$910
6%
37
condominiums {2017 vs. 2016}
Change
San Francisco Q2 Market Update / District 8
8
at a glance {Q2 | 2017}
district 8
CIVIC CENTER DOWNTOWN FINANCIAL DISTRICT NORTH BEACH RUSSIAN HILL NOB HILL TELEGRAPH HILL TENDERLOIN NORTH WATERFRONT
-28
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
33
%
Change in Units Sold {2017 vs. 2016, Single Family Homes}
143 Total Units Sold
2.3m
$
Median Sale Price {Single Family Homes}
district 8
Neighborhood Highlights Financial District
{Median Sale Price | Condominiums over Five Years}
Financial District
-6
$3,000,000
%
$2,500,000
Final Sale vs. Original List
$2,000,000
5
$1,500,000
Average DOM
$1,000,000 $500,000
$
$0
2013
2014
2015
2016
2017
1,421
$/Square Foot
Nob Hill
{Median Sale Price | Condominiums over Five Years}
Nob Hill
0
$1,600,000 $1,400,000
Final Sale vs. Original List
$1,200,000
42
$1,000,000 $800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
%
2014
2015
2016
2017
1,224
$/Square Foot
District
8
North Waterfront
{Median Sale Price | Condominiums over Five Years}
N. Waterfront
$1,200,000
-1
$1,000,000
Final Sale vs. Original List
32
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
%
2014
2015
2016
2017
939
$/Square Foot
Russian Hill
{Median Sale Price | Condominiums over Five Years}
Russian Hill
-1
$2,500,000
Final Sale vs. Original List
$2,000,000
32
$1,500,000 $1,000,000
Average DOM
$500,000
$
$0
2013
%
2014
2015
2016
2017
District 8 Neighborhood Highlights
1,393
$/Square Foot
/ San Francisco Q2 Market Update
at a glance {Q2 | 2017}
district 9
BERNAL HEIGHTS DOGPATCH INNER MISSION MISSION BAY POTRERO HILL SOUTH BEACH SOUTH OF MARKET (SOMA) YERBA BUENA
12
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
-6
%
Change in Units Sold {2017 vs. 2016, Condominiums}
324 Total Units Sold
1.6m
$
Median Sale Price {Single Family Homes}
District single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
12%
3%
2%
-
-18%
9
{2017 vs. 2016}
Change 2017
$1,550,000 80
966
11%
22
2016
$1,385,000 78
949
22%
27
2015
$1,460,000 63
991
22%
20
2014
$1,170,000
56
846
23%
25
2013
$1,030,000 87
733
15%
34
District 9 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
2013
2014
2015
D9 Condos Single Family Homes
condominiums
2016
2017
D9 SFH Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-3%
-6%
-5%
-
0%
{2017 vs. 2016}
Change 2017
$1,100,000 244
1052
9%
42
2016
$1,132,000
260
1107
3%
41
2015
$1,069,000 321
1117
7%
30
2014
$905,000
345
1009
7%
27
2013
$779,000
325
830
4%
34
District 9
/ San Francisco Q2 Market Update
district 9
Neighborhood Highlights Bernal Heights
{Median Sale Price | Single Family Homes over Five Years}
Bernal Heights
-14
%
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
24
$1,000,000 $750,000
Average DOM
$500,000 $250,000
$
$0
2013
2014
2015
2016
2017
971
$/Square Foot
Inner Mission
{Median Sale Price | Condominiums over Five Years}
Inner Mission
-5
$1,400,000 $1,200,000
Final Sale vs. Original List
$1,000,000
36
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
%
2014
2015
2016
2017
980
$/Square Foot
District
9
SoMa
{Median Sale Price | Condominiums over Five Years}
SoMa
-1
$1,200,000
Final Sale vs. Original List
$1,000,000
53
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
%
2014
2015
2016
2017
961
$/Square Foot
South Beach
{Median Sale Price | Condominiums over Five Years}
South Beach
0
$1,400,000 $1,200,000
Final Sale vs. Original List
$1,000,000
48
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
%
2014
2015
2016
2017
District 9 Neighborhood Highlights
1,179
$/Square Foot
/ San Francisco Q2 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
RUSSIAN HILL
Sleek Contemporary Residence Last Asking $7,425,000
COW HOLLOW
Exquisite New Construction Last Asking $7,395,000 NOB HILL
Light-Filled View Townhouse Last Asking $5,560,000 NOE VALLEY
Homes on 21 st Last Asking $4,995,000 MISSION
Art, Home, & Enterprise Last Asking $4,500,000 *in order from left to right, top to bottom
sothebyshomes.com/sanfrancisco
WILLEM DE KOONING Untitled, 1978 Estimate $200,000-300,000 To be offered in Contemporary Curated Auction New York 27 September 2017
2017 September Auctions
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