San Francisco, CA | web: 0087796
San Francisco Market Update First Quarter 2016 SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700
sothebyshomes.com
All data within this document is pulled from the San Francisco MLS.
A MESSAGE FROM: JEFFREY G. GIBSON Senior Vice President and Brokerage Manager
Jeffrey G. Gibson SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700
Throughout 2015, prices for single-family homes remained on the rise and that momentum carried over to the first quarter of 2016. According to the San Francisco Multiple Listing Service, the average sales price for a single-family home in San Francisco climbed 7 percent, from $1,570,000 in Q1 2015 to $1,680,000 in Q1 2016. The average price-per-square-foot, similarly, increased from $791 per-square-foot in Q1 2015 to $856 per-square-foot in Q1 2016, an 8.2 percent increase. Unlike single-family homes, buyers did not push prices higher for condominiums. Comparing Q1 2015 to Q1 2016, the average sales price and the average price-per-square-foot for condominiums throughout the city remained relatively flat. The average sales price for condominiums went from $1,200,000 in Q1 2015, to $1,220,000 in Q1 2016. The average price per-square-foot for condominiums also slightly rose from $1,000 per-square-foot in Q1 2016, to $1,020 in Q1 2016. Demand remained strong in Q1 2016, but the number of sales was down. Low inventory throughout the city played a factor as the number of single-family homes sold fell 18.5 percent, from 428 units sold in Q1 2015 to 349 units sold in Q1 2016. Condominiums saw a 7.4 percent decrease in total units sold, from 583 units sold in Q1 2015, to 540 units sold in Q1 2016. sothebyshomes.com/sanfrancisco
Q1 TOTAL CLOSED SALES (SINGLE FAMILY HOMES)
2012
2013
2014
2015
2016
535
497
467
428
349
DISTRICT 1
45
39
36
34
29
DISTRICT 4
55
64
63
53
48
DISTRICT 5
72
72
70
65
47
DISTRICT 6
10
6
13
4
3
DISTRICT 7
23
19
18
19
17
DISTRICT 8
5
4
5
3
1
DISTRICT 9
46
54
39
59
37
SAN FRANCISCO (TOTAL)
600
500
400
300
200
100
0
2012
2013
2014
2015
2016
Source: SFARMLS - January 1-March 31 each year.
Q1 TOTAL CLOSED SALES (CONDOS)
2012
2013
2014
2015
2016
608
633
668
583
540
800
SAN FRANCISCO (TOTAL)
700
DISTRICT 1
42
37
22
21
26
DISTRICT 4
14
12
15
9
5
DISTRICT 5
84
93
111
97
64
DISTRICT 6
56
65
69
65
59
DISTRICT 7
61
89
57
63
44
DISTRICT 8
136
90
131
81
79
DISTRICT 9
174
211
238
220
225
600 500 400 300 200 100 0
2012
2013
2014
2015
2016
Source: SFARMLS - January 1-March 31 each year.
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DISTRICT 1
SINGLE FAMILY HOME SALES ABOUT DISTRICT 1 Also known as the Richmond District, District 1 is nestled on the Northwest corner of San Francisco. Home to many distinct neighborhoods, including Jordan Park, Lake, Laurel Heights, Outer Richmond, Central Richmond, Inner Richmond, and Sea Cliff, the district borders both the Golden Gate Park and the Pacific Ocean. In District 1, residents and visitors alike can enjoy some fun in the park, or sit back and gaze upon the vast ocean.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$2,500,000 80
80
70
70
60
60
$2,000,000
50 $1,500,000
50
40
40
$1,000,000 30
30
20
20
$500,000 10
10 0
$-
2012
2013
2012
2013
2014
Francisco SanSan Francisco
2014
2015
2015
0
2016
2016
2012
District 1 1 District
2013
2014
2015
San Francisco
2016
District 1
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$1,055,790
$1,519,283
$1,454,374
$1,803,761
$2,054,169
13.9 percent
AVERAGE SOLD PRICE
$1,069,875
$1,587,079
$1,567,467
$1,951,122
$2,130,086
9.2 percent
AVERAGE DAYS ON MARKET
57
36
39
20
32
65.0 percent
TOTAL SINGLE FAMILY HOMES SOLD
45
39
36
34
29
-14.7 percent
SINGLE FAMILY HOMES | Q1
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
4
DISTRICT 1
CONDOMINIUM SALES Q1 MARKET OVERVIEW
Over the last five years, the number of single-family homes sold in District 1 has steadily declined, while the average sales price increased. Consider that in Q1 2012, 45 homes were sold in the district at an average sales price of $1,070,000. Jump forward to Q1 2016, where 29 single-family homes were sold at an average sales price of $2,130,000. While average sales prices in Q1 2016 continued to soar for single-family homes in District 1, average sales prices have begun to shift for condominiums. The average sales price for a condominium fell 8 percent from $1,200,000 in Q1 2015 to $1,100,000 in Q1 2016, one of the few districts in the City to see a decline. An influx of inventory may have helped balance the value of condominiums in the district. The number of condominiums closed grew 23.8 percent, up to 26 units sold in Q1 2016 from 21 units sold in Q1 2015.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
90
90
80
80
$1,400,000
$1,200,000
70
70
$1,000,000
60
60
50 $800,000
50
40
40
$600,000
30
30 $400,000
20 10 0
20 $200,000
10
$-
2012
2012
2013 2013
20142014
SanFrancisco Francisco San
2015 2015
0
2016 2016
2012
District District1 1
2013
2014
San Francisco
2015
2016
District 1
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$657,498
$731,889
$994,727
$1,097,667
$967,921
-11.8 percent
AVERAGE SOLD PRICE
$658,214
$766,459
$1,068,448
$1,199,738
$1,104,077
-8.0 percent
AVERAGE DAYS ON MARKET
76
55
46
36
21
-41.5 percent
TOTAL CONDOS SOLD
42
37
22
21
26
23.8 percent
CONDOMINIUMS | Q1
5
DISTRICT 4
SINGLE FAMILY HOME SALES ABOUT DISTRICT 4 District 4, also referred to as West of Twin Peaks is located in a heavily wooded and picturesque area of San Francisco. District 4 encompasses 16 neighborhoods: 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 and Westwood Park.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,800,000 80
80
$1,600,000 70
70
$1,400,000
60
60
$1,200,000
50
50
$1,000,000
40
40
$800,000
30
30
20
20
10 $200,000
10
$600,000 $400,000
0
$-
2012 2012
20132013
2014 2014
San Francisco
San Francisco
2015 2015
0
2016 2016
2012
District 4
2013
2014
San Francisco
District 4
2015
2016
District 4
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$871,634
$1,080,119
$1,163,193
$1,291,253
$1,417,769
9.8 percent
AVERAGE SOLD PRICE
$863,793
$1,159,538
$1,288,624
$1,424,894
$1,568,677
10.1 percent
AVERAGE DAYS ON MARKET
65
36
32
33
25
-26.8 percent
TOTAL SINGLE FAMILY HOMES SOLD
55
64
63
53
48
-9.4 percent
SINGLE FAMILY HOMES | Q1
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
6
DISTRICT 4
CONDOMINIUM SALES Q1 MARKET OVERVIEW
Since 2012, the average sales price of a single-family home in District 4 has consistently remained a hair below the citywide average in the first quarter of the year. That trend continued well into Q1 2016 as the average sales price for a single-family home rose to $1,570,000, a 10.1 percent increase from Q1 2015. The average sales price for a condominium experienced similar growth, rising 9.8 percent year over year. Low inventory in District 4 resulted in fewer sales of both single-family homes and condominiums. Total sales of condominiums stayed in the single digits, with five units closed in Q1 2016—a 44.4 percent decline from the nine units sold in Q1 2015. The number of single-family homes sold was down 9.4 percent, with 48 units sold in Q1 2016.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 120
120
$1,200,000 100
100
$1,000,000 80
80
$800,000 60
60
$600,000 40
40
$400,000 20
20
$200,000 0
$-
2012
2013
2012
2013
2014 2014
San Francisco San Francisco
2015 2015
0
2016 2016
2012
District 4 4 District
2013
2014
2015
San Francisco
2016
District 4
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$419,236
$485,490
$595,733
$557,211
$659,200
18.3 percent
AVERAGE SOLD PRICE
$408,539
$509,606
$623,933
$619,000
$679,600
9.8 percent
104
69
30
24
56
132.7 percent
14
12
15
9
5
-44.4 percent
CONDOMINIUMS | Q1
AVERAGE DAYS ON MARKET
TOTAL CONDOS SOLD
7
DISTRICT 5
SINGLE FAMILY HOME SALES ABOUT DISTRICT 5 District 5, commonly known as the Central District, is in the geographic center of San Francisco. The sunny region, with its charm and vitality, is popular with both tourists and residents. The district is home to the neighborhoods of Ashbury Heights, Buena Vista Park, Clarendon Heights, Corona Heights, Cole Valley, Castro, Dolores Heights, Duboce Triangle, Glen Park, Haight Ashbury, Noe Valley, Twin Peaks and Mission Dolores.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$3,000,000
80
80 $2,500,000 70
70
60 $2,000,000
60 50
50 $1,500,000 40
40 30
30 $1,000,000
20
20
10 $500,000
10
0 $-
2012 2012
2013
2014
2013
2014
2015 2015
0
2016
2012
2013
2014
2015
2016
2016
San Francisco
District 5
San Francisco San Francisco
District 5 District 5
SINGLE FAMILY HOMES | Q1
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$1,560,067
$1,735,429
$2,057,756
$2,195,969
$2,262,830
3.0 percent
AVERAGE SOLD PRICE
$1,572,205
$1,807,085
$2,261,461
$2,417,036
$2,494,169
3.2 percent
AVERAGE DAYS ON MARKET
64
39
27
21
27
27.3 percent
TOTAL SINGLE FAMILY HOMES SOLD
72
72
70
65
47
-27.7 percent
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
8
DISTRICT 5
CONDOMINIUM SALES Q1 MARKET OVERVIEW
Inventory appeared to be scarce in District 5, as the number of single-family homes and condominiums sold fell dramatically in the area. In particular, there was a sharp 34 percent drop in the number of condominiums sold compared year over year; 97 units were sold in Q1 2015 and 64 units were sold in Q1 2016. The number of single-family homes sold also fell in Q1 2016, dropping to 47 units sold compared to the 65 units sold in Q1 2015, a 27.7 percent decrease. Despite the low inventory in the district, the average sales price for a single-family home stayed relatively flat, going from $2,400,000 in Q1 2015 to $2,500,000 in Q1 2016. Demand for condominiums continued to steadily increase the average sales price, which rose from $1,180,000 in Q1 2015 to $1,300,000 in Q1 2016, an 8.9 percent increase.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 90
90
80 $1,200,000
80 70
70 $1,000,000 60
60
$800,000 50
50
40 $600,000
40
30
30
$400,000 20
20
10 $200,000
10
0
$-
2012
2013
2012
2013
2014 2014
San Francisco San Francisco
2015 2015
0
2016 2016
2012
District 5 5 District
2013
2014
2015
San Francisco
2016
District 5
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$865,389
$836,464
$1,000,168
$1,043,844
$1,210,438
16 percent
AVERAGE SOLD PRICE
$878,260
$900,531
$1,098,284
$1,182,769
$1,288,187
8.9 percent
AVERAGE DAYS ON MARKET
64
48
27
30
48
60.9 percent
TOTAL CONDOS SOLD
84
93
111
97
64
-34 percent
CONDOMINIUMS | Q1
9
DISTRICT 6
SINGLE FAMILY HOME SALES ABOUT DISTRICT 6 District 6, also referred to as the Central North, is a vibrant area with easy access to public transportation, trendy boutiques, excellent restaurants and gorgeous City views. The neighborhoods that encompass District 6 include Alamo Square, Hayes Valley, Western Addition, Lower Pacific Heights, Anza Vista and North Panhandle (NoPa). Homes vary from stunning mansions and Victorian houses to quaint single family homes and chic condominiums.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$3,500,000
$3,500,000
$3,000,000
$3,000,000 70
$2,500,000
60 $2,500,000
$2,000,000
50 $2,000,000
80
40
$1,500,000
$1,500,000 30
$1,000,000
$1,000,000 20
$500,000
10 $500,000 0
$-
2012
2013
San Francisco
2014
2015
$-
2016
2012
2012
2013
2014
2013
San Francisco San Francisco
District 6
2015
2014
2015
2016
2016
District 6 District 6
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$1,175,400
$2,423,667
$1,980,846
$1,501,750
$3,074,667
104.7 percent
AVERAGE SOLD PRICE
$1,163,000
$2,390,833
$2,054,202
$1,501,750
$3,268,333
117.6 percent
AVERAGE DAYS ON MARKET
62
54
47
11
69
538.8 percent
TOTAL SINGLE FAMILY HOMES SOLD
10
6
13
4
3
-25.0 percent
SINGLE FAMILY HOMES | Q1
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
10
DISTRICT 6
CONDOMINIUM SALES Q1 MARKET OVERVIEW
Sales of single-family homes in District 6 were low in the last two years of the first quarter. Only four units closed in Q1 2015, and that number remained low in Q1 2016 with three units sold. When presented with limited options, buyers in the district were willing to pay more than double what they spent in Q1 2015. The average sales price for a single-family home was $1,500,000 in Q1 2015, and rose to $3,270,000 in Q1 2016. Following a traditional bell curve, the total number of condominiums sold in District 6 over the past few years rose as high as 69 units sold in Q1 2014 before balancing back down to 59 units sold in Q1 2016. While the total number of condominiums sold rose and fell, the average sales price continued its ascent, going from $1,044,000 in Q1 2015 to $1,200,000 in Q1 2016, a 15.6 percent growth.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 90
90
80
80
70
70
$1,200,000
$1,000,000
60
60
$800,000 50
50
40
40
30
30
$600,000
$400,000
20
20
10 $200,000
10
0 $-
2012
2013 2012
2014 2013
San Francisco San Francisco
2014
2015 2015
0
2016
2012
2013
2014
2015
2016
2016
District 6 6 District
San Francisco
District 6
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$669,533
$704,877
$788,635
$941,103
$1,116,396
18.6 percent
AVERAGE SOLD PRICE
$667,729
$735,851
$858,002
$1,044,219
$1,206,688
15.6 percent
AVERAGE DAYS ON MARKET
80
43
50
30
39
28.6 percent
TOTAL CONDOS SOLD
56
65
69
65
59
-9.2 percent
CONDOMINIUMS | Q1
11
DISTRICT 7
SINGLE FAMILY HOME SALES ABOUT DISTRICT 7 District 7, is located in the northernmost region of San Francisco. With the Golden Gate Bridge and the San Francisco Bay to the north and downtown to the east, the district is ideal for both work and recreation. With beautiful bay views, chic boutiques, and lush parks, residents can find plenty of activities in the Marina, Cow Hollow, Pacific Heights and Presidio Heights.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$6,000,000 80
80
70 $5,000,000
70 60
60
$4,000,000 50
50
$3,000,000 40
40
30
30
20
20
$2,000,000
$1,000,000 10 0
$-
10
2012
2013
2012
2013
2014
2014
2015
2015
0
2016
2016
2012
2013
2014
San Francisco
2015
2016
SanSan Francisco Francisco
District District77
SINGLE FAMILY HOMES | Q1
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$4,217,620
$4,355,474
$4,797,444
$5,201,842
$5,152,432
-0.9 percent
AVERAGE SOLD PRICE
$4,034,891
$4,221,526
$4,711,500
$5,441,658
$5,135,080
-5.6 percent
AVERAGE DAYS ON MARKET
52
57
20
18
29
61.4 percent
TOTAL SINGLE FAMILY HOMES SOLD
23
19
18
19
17
-10.5 percent
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
District 7
12
DISTRICT 7
CONDOMINIUM SALES Q1 MARKET OVERVIEW
Due to a shift in demand, District 7 was one of the few areas in San Francisco to see the average sales prices for a single-family home decrease. Demand was high in Q1 2015—the average sales price for a single-family home was $5,400,000, and buyers were willing to spend about 4 percent more than the listing price. In Q1 2016, the average sales price fell to $5,135,000, which was flat when compared to the average list price of $5,150,000. While the average sales price for a single-family home began to balance out, the average sales price for a condominium in District 7 continued to climb, going from $1,600,000 in Q1 2015 to $1,880,000 in Q1 2016. There were 44 condominiums sold in the district in Q1 2016, which decreased from 63 units sold in Q1 2015, a 34 percent decrease.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$2,000,000
90 80
80
$1,800,000
80 70
70
$1,600,000
70
60
60 $1,400,000
60
$1,200,000 50
50
50
$1,000,000 40
40
40
$800,000
30
30
30
$600,000
20 20
20
$400,000 10 10
10
$200,000 0
$-
2012
2013
2012
2013
2014
San Francisco San Francisco
2014
2015
2015
00
2016
2016
2012 2012
2013 2013
2014 2014
San Francisco
District 7 7 District
San Francisco
2015 2015
2016 2016
District 7
District 7
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$1,093,642
$1,184,885
$1,424,893
$1,486,480
$1,808,975
21.7 percent
AVERAGE SOLD PRICE
$1,094,225
$1,202,972
$1,475,969
$1,633,157
$1,880,538
15.1 percent
AVERAGE DAYS ON MARKET
72
61
41
25
28
14.7 percent
TOTAL CONDOS SOLD
61
89
57
63
44
-30.2 percent
CONDOMINIUMS | Q1
13
DISTRICT 8
SINGLE FAMILY HOME SALES ABOUT DISTRICT 8 District 8 includes the business and financial center of San Francisco, and serves as a popular tourist destination. Encompassing the skyscrapers of the Financial District, culture and art with the San Francisco Opera and Ballet, and popular locations like Fisherman’s Wharf and Chinatown, the district is truly the heart of the City. Residential neighborhoods include North Beach, Russian Hill, Nob Hill, Telegraph Hill and North Waterfront.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$4,500,000 140
140
$4,000,000 120 $3,500,000
120
100 $3,000,000
100
$2,500,000 80
80
$2,000,000 60
60
$1,500,000 40
40
$1,000,000 20
20
$500,000 0
$-
2012
2013
2012
2013
2014 2014
Francisco SanSan Francisco
2015 2015
0
2016 2016
2012
District 8 8 District
2013
2014
2015
San Francisco
2016
District 8
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$2,662,000
$2,548,750
$2,933,000
$1,699,333
$4,250,000
150.1 percent
AVERAGE SOLD PRICE
$2,459,600
$2,505,000
$3,045,000
$1,936,667
$4,000,000
106.5 percent
116
64
8
27
18
-33.3 percent
5
4
5
3
1
-66.7 percent
SINGLE FAMILY HOMES | Q1
AVERAGE DAYS ON MARKET
TOTAL SINGLE FAMILY HOMES SOLD
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
14
DISTRICTS 8
CONDOMINIUM SALES Q1 MARKET OVERVIEW
The number of condominiums sold in District 8 remained flat in Q1 2016, with 81 units sold in Q1 2015 compared to 79 units sold in Q1 2016. With a fairly level inventory to choose from, buyers in the district helped guide the average sales price for a condominium down 13.8 percent, from $1,470,000 in Q1 2015 to $1,260,000 in Q1 2016. The shift in price didn’t stifle the buyer’s sense of urgency in closing a sale. District 8 was one of the few areas to post a decline in the average number of days a listing remained on the market, falling to 37 days in Q1 2016. Over the last five years, around three to five single-family homes were sold in District 8 in the first quarter of the year. That number decreased to one single-family home sold in Q1 2016.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,600,000
$1,600,000 100
$1,400,000
90 $1,400,000
$1,200,000
80 $1,200,000 70
$1,000,000
$1,000,000 60
$800,000
50 $800,000
$600,000
40 $600,000 30
$400,000
$400,000 20
$200,000
$200,000 10
$-
0 2012
2013
San Francisco
2014
2015
2016
$-
2012 2012
2013 2013
20142014
San San Francisco Francisco
District 8
2015 2015
2016 2016
District88 District
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$766,933
$936,020
$1,137,208
$1,418,327
$1,222,610
-13.8 percent
AVERAGE SOLD PRICE
$755,907
$949,494
$1,161,420
$1,466,048
$1,263,091
-13.8 percent
AVERAGE DAYS ON MARKET
94
44
44
40
37
-8.1 percent
TOTAL CONDOS SOLD
136
90
131
81
79
-2.5 percent
CONDOMINIUMS | Q1
15
DISTRICT 9
SINGLE FAMILY HOME SALES ABOUT DISTRICT 9 District 9, the central-eastern portion of San Francisco includes the neighborhoods Bernal Heights, the Central Waterfront/Dogpatch, Inner Mission, Mission Bay, Potrero Hill, South Beach and South of Market (SoMa). The area includes some of the oldest homes in San Francisco, having escaped the 1906 earthquake and fire destruction. District 9’s real estate includes cottages, bungalows and single-family homes in Bernal Heights and Potrero Hill, and warehouse-converted lofts and condominiums in SoMa, South Beach and Yerba Buena.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,800,000
$1,800,000
$1,600,000
$1,600,000
$1,400,000
$1,400,000
$1,200,000
$1,200,000
$1,000,000
$1,000,000
80 70 60 50 40
$800,000
$800,000
30
$600,000
$600,000
20
$400,000
$400,000
10
$200,000
$200,000 $-
0
2012
2013
2014
2015
2016
$-
2012
2012
2013
2013
2014
San SanFrancisco Francisco
2015
2014
2015
2016
2016
District 99 District
San Francisco
District 9
SINGLE FAMILY HOMES | Q1
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$716,002
$839,914
$1,069,872
$1,304,108
$1,370,865
5.1 percent
AVERAGE SOLD PRICE
$729,541
$921,231
$1,221,510
$1,477,521
$1,552,959
5.1 percent
AVERAGE DAYS ON MARKET
61
42
35
24
23
-3.0 percent
TOTAL SINGLE FAMILY HOMES SOLD
46
54
39
59
37
-37.3 percent
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
16
DISTRICT 9
CONDOMINIUM SALES Q1 MARKET OVERVIEW
In District 9, the number of single-family homes sold fell 37.3 percent, decreasing from 59 units sold in Q1 2015 to 37 units sold in Q1 2016. Buyers were still motivated by the limited supply, as the average sales price remained fairly level, going slightly up from $1,480,000 in Q1 2015 to $1,550,000 in Q1 2016. The number of condominiums sold remained consistent in the first quarter year over year. A total of 225 condominiums were sold in Q1 2016, a slight increase over the 220 units sold in Q1 2015. The consistent supply helped keep the average sales price for a condominium level at $1,161,600 in Q1 2016, which stayed flat when compared to $1,162,300 which was posted in Q1 2015.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 90
90
80 $1,200,000
80 70
70 $1,000,000 60
60
$800,000 50
50
40 $600,000
40
30
30
$400,000 20
20
10 $200,000
10
0
$-
2012
2013
2012
2013
2014 2014
San Francisco San Francisco
2015 2015
0
2016 2016
2012
District 9 9 District
2013
2014
2015
San Francisco
2016
District 9
2012
2013
2014
2015
2016
percent Change (2016 v 2015)
AVERAGE LIST PRICE
$669,966
$897,367
$960,653
$1,118,686
$1,136,436
1.6 percent
AVERAGE SOLD PRICE
$663,727
$912,895
$1,002,487
$1,162,299
$1,161,604
-0.1 percent
AVERAGE DAYS ON MARKET
82
43
33
36
38
6.8 percent
TOTAL CONDOS SOLD
174
211
238
220
225
2.3 percent
CONDOMINIUMS | Q1
17
SIGNIFICANT SALES | Q1 2016
BLACKHAWK COUNTRY CLUB | Web: 0087242 | $9,200,000 Seller Represented | San Francisco Brokerage Susan Bazinett 925.683.6058, Gregg Lynn 415.901.1780
PACIFIC HEIGHTS | Web: 0087685 | $7,450,000 Seller/Buyer Represented | San Francisco Brokerage Maria Marchetti 415.699.8008, Mary Fenton 415.205.5218
MISSION DISTRICT | Web: 0087635 | $4,600,000 | Seller Represented San Francisco Brokerage | Rob Levy 415.385.8011
NOE VALLEY | Web: 0087721 | $3,900,000 | Seller Represented San Francisco Brokerage | Wendy Storch 415.519.6091
SOUTH BEACH | Web: 0087740 | $3,700,000 Seller/Buyer Represented | San Francisco Brokerage Gregg Lynn 415.901.1780, Callum Hutchins 415.265.1602
SOUTH BEACH | Web: 0087709 | $2,070,000 | Seller Represented San Francisco Brokerage | Eric Turner 415.425.1516
AUCTION CALENDAR MAY 2016
© 2016 Calder Foundation, New York / Artists Rights Society (ARS), New York
Property Formerly in the Collection of Alfred H. Barr, Jr. Alexander Calder Untitled, circa 1942 Estimate $2,500,000-3,500,000
Orfèvrerie, Boîtes en Or et Objets de Vitrine
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ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 0138268 | $5,650,000 SAN FRANCISCO, CA | Web: 0087780 | $5,395,000 HOUSTON, TX | Web: 1240556 | $5,250,000 RESORT MARKETS SONOMA, CA | Web: 0243927 | $5,275,000 AMAGANSETT, NY | Web: 1050627 | $5,250,000 MONTECITO, CA | Web: 0113951 | $5,950,000 FOREIGN MARKETS INDIA | Web: G6ZBKG | $5,684,793 SPAIN | Web: B858KK | $5,528,256 HONG KONG | Web: QGJQX9 | $5,671,492 sothebysrealty.com