San Francisco, CA | web: 0087786
San Francisco Market Update Second 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 Since 2012, San Francisco’s overall average sales price has shown tremendous growth year over year. With San Francisco leading the charge after the 2008 market recession, available inventory dwindled and sales prices climbed annually throughout the City. However, second quarter 2016 data from the San Francisco Multiple Listing Service reflected that, while the San Francisco real estate market remains vibrant and strong, there has been a shift in direction.
Jeffrey G. Gibson SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700
After seeing significant year-over-year gains, the average sales price throughout San Francisco for single-family homes fell slightly, 2.8 percent, decreasing from an average of $1.79 million in the second quarter of 2015, to an average of $1.74 million in the second quarter of 2016. In our review of seven major districts in the City, we found that the average sales price in the second quarter of 2016 for a single-family home decreased in five of them, compared to the second quarter of 2015. In four of the seven districts we analyzed, the average sales price year-over-year for a condominium also saw a decline. Throughout the City, condominiums saw a 2.2 percent drop in average sales price, with the average sales price at $1.36 million in the second quarter of 2015, to an average of $1.29 million in the second quarter of 2016. sothebyshomes.com/sanfrancisco
Q2 TOTAL CLOSED SALES (SINGLE FAMILY HOMES) 760 740
2012
2013
2014
2015
2016
SAN FRANCISCO (TOTAL)
725
746
628
641
635
DISTRICT 1
65
70
57
67
57
DISTRICT 4
110
89
76
94
89
DISTRICT 5
112
111
87
84
90
DISTRICT 6
14
11
11
8
8
DISTRICT 7
41
47
34
31
33
DISTRICT 8
7
8
8
7
6
DISTRICT 9
59
87
56
63
76
720 700 680 660 640 620 600 580 560
2012
2013
2014
2015
2016
Source: SFARMLS - April 1-June 30 each year.
Q2 TOTAL CLOSED SALES (CONDOS) 1200
1000
800
2012
2013
2014
2015
2016
SAN FRANCISCO (TOTAL)
937
961
907
864
731
DISTRICT 1
49
39
48
38
39
DISTRICT 4
17
19
18
14
8
DISTRICT 5
106
154
136
165
102
DISTRICT 6
82
96
77
75
67
DISTRICT 7
89
116
99
64
81
DISTRICT 8
139
163
146
138
128
DISTRICT 9
254
325
345
321
258
600
400
200
0
2012
2013
2014
2015
2016
Source: SFARMLS - April 1-June 30 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 60
60
$2,000,000 50
50
40
40
30
30
$1,500,000
$1,000,000 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
$1,339,816
$1,582,162
$1,607,000
$1,789,237
$1,790,593
0.1 percent
AVERAGE SOLD PRICE
$1,414,815
$1,717,171
$1,838,249
$2,131,682
$1,973,333
-7.4 percent
AVERAGE DAYS ON MARKET
48
37
19
16
26
62.6 percent
TOTAL SINGLE FAMILY HOMES SOLD
65
70
57
67
57
-14.9 percent
SINGLE FAMILY HOMES | Q2
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
4
DISTRICT 1
CONDOMINIUM SALES Q2 MARKET OVERVIEW
Like the rest of San Francisco, the average sales price in District 1 for a single-family home and a condominium fell in the second quarter of 2016, a shift from the significant increases seen in the second quarter since 2012. The average sales price for a single-family home fell 7.4 percent, down from $2.10 million in Q2 2015 to $1.97 million in Q2 2016. The average sales price for a condominium also followed suit, falling from $1.16 million in Q2 2015, to $1.060 million in Q2 2016, an 8.3 percent decrease. Buyers who closed deals on single-family homes in an average of 16 days in Q2 2015 took more time to negotiate, closing their deals in an average of 26 days. Condominiums also remained on the market for a longer period in Q2 2016, with buyers closing those deals in an average of 40 days compared to 26 average days on market in Q2 2015.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000
70
$1,200,000
60
$1,000,000
50
$800,000
40
$600,000
30
$400,000
20
$200,000
10
$-
0 2012
2013
San Francisco
2014
2015
2016
2012
2013
2014
San Francisco
District 1
2015
2016
District 1
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$734,193
$833,478
$958,906
$1,038,921
$976,307
-6 percent
AVERAGE SOLD PRICE
$748,927
$889,487
$1,034,760
$1,155,718
$1,059,434
-8.3 percent
AVERAGE DAYS ON MARKET
63
31
38
26
40
52 percent
TOTAL CONDOS SOLD
49
39
48
38
39
2.6 percent
CONDOMINIUMS | Q2
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
60
60
$2,000,000 $1,800,000
50
50
$1,600,000 $1,400,000
40
40
$1,200,000 $1,000,000 30
30
$800,000
20
20 $600,000 $400,000
10
10
$200,000 $-
0
2012
2013
2012
2013
2014
2014
San Francisco
San Francisco
2015
2015
2016
0
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
$990,350
$1,121,938
$1,270,413
$1,428,173
$1,393,853
-2.4 percent
AVERAGE SOLD PRICE
$1,025,727
$1,249,635
$1,448,339
$1,671,064
$1,543,810
-7.6 percent
AVERAGE DAYS ON MARKET
53
33
27
20
25
26.1 percent
TOTAL SINGLE FAMILY HOMES SOLD
110
89
76
94
89
-5.3 percent
SINGLE FAMILY HOMES | Q2
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
6
DISTRICT 4
CONDOMINIUM SALES Q2 MARKET OVERVIEW
For the past few years in District 4, the second quarter yielded a decrease in the number of closed sales, while the average sales price increased. In Q2 2016, the total number of single family homes continued to fall, dropping to 89 units, from 94 units sold in Q2 2015. Despite a decrease in the number of homes sold, the average sales price for a single family home dropped to $1.54 million in Q2 2016, a 7.6 percent decrease from $1.67 million in Q2 2015. The data for condominiums in the district also followed the citywide trend, with a dip in the average sales price and the total number of condominiums sold. On average, a condominium sold for $760,000 in Q2 2016, compared to an average of $797,000 in Q2 2015, a 4.9 percent decrease. The total number of condominiums sold fell 42.9 percent, going from 14 units sold in Q2 2015 to eight units sold in Q2 2016.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000
140
$1,200,000
120
$1,000,000
100
$800,000
80
$600,000
60
40
$400,000
20
$200,000
$-
0
2012
2013
San Francisco
2014
2015
2016
2012
District 4
2013
2014
2015
San Francisco
2016
District 4
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$401,175
$484,437
$547,265
$715,336
$709,750
-0.8 percent
AVERAGE SOLD PRICE
$400,915
$533,632
$606,007
$796,929
$758,125
-4.9 percent
AVERAGE DAYS ON MARKET
121
64
22
35
37
4.9 percent
TOTAL CONDOS SOLD
17
19
18
14
8
-42.9 percent
CONDOMINIUMS | Q2
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
60
60 $2,500,000
50
50 $2,000,000 40
40
$1,500,000 30
30
20 $1,000,000
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 | Q2
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$1,437,282
$1,532,225
$1,859,011
$2,193,892
$2,195,722
0.1 percent
AVERAGE SOLD PRICE
$1,508,963
$1,705,696
$2,112,283
$2,449,748
$2,313,409
-5.6 percent
AVERAGE DAYS ON MARKET
40
29
20
19
28
44.5 percent
TOTAL SINGLE FAMILY HOMES SOLD
112
111
87
84
90
7.1 percent
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
8
DISTRICT 5
CONDOMINIUM SALES Q2 MARKET OVERVIEW
In the second quarter of 2016, District 5 was one of the few areas that experienced an increase in the number of singlefamily homes sold. The total number of homes sold rose 7.1 percent, up from 84 units sold in Q2 2015 to 90 units sold in Q2 2016. Despite the increase in total sales, the average sales price for a single-family home decreased, much like the rest of the city, from $2.45 million in Q2 2015 to $2.30 million in Q2 2016, a 5.6 percent decline. Condominium sales in District 5 were still benefitting from low inventory in the area. Total condominium sales in the district dropped 38.2 percent, down from 165 units sold in Q2 2015 to 102 units sold in Q2 2016. A lack of inventory in the area may have helped the average sales price rise 2.4 percent, up from $1.28 million in Q2 2015 to $1.30 million in Q2 2016.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 70
70
$1,200,000 60
60
50 $1,000,000
50
40 $800,000
40
30 $600,000
30
20 $400,000
20
10 $200,000
10
0
$-
0 2012
2013
2012
2013
2014 2014
San Francisco San Francisco
2015 2015
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
$795,129
$874,081
$971,870
$1,101,812
$1,200,666
9.0 percent
AVERAGE SOLD PRICE
$829,741
$967,916
$1,103,436
$1,282,151
$1,312,578
2.4 percent
AVERAGE DAYS ON MARKET
49
34
25
20
27
34.8 percent
TOTAL CONDOS SOLD
106
154
136
165
102
-38.2 percent
CONDOMINIUMS | Q2
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
$3,000,000 70
$2,500,000
60
50
$2,000,000
40
$1,500,000 30
$1,000,000
20
10
$500,000
0
$-
2012
2013
San Francisco
2014
2015
2012
2013
2014
2015
2016
2016
San Francisco
District 6
District 6
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$2,082,643
$2,009,273
$2,132,727
$2,304,750
$2,415,625
4.8 percent
AVERAGE SOLD PRICE
$2,096,214
$2,149,284
$2,412,476
$2,397,000
$2,456,250
2.5 percent
AVERAGE DAYS ON MARKET
60
34
21
29
54
87.8 percent
TOTAL SINGLE FAMILY HOMES SOLD
14
11
11
8
8
no change
SINGLE FAMILY HOMES | Q2
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
10
DISTRICT 6
CONDOMINIUM SALES Q2 MARKET OVERVIEW
Bucking the trends being set throughout the City, District 6 was one of the few areas that saw an increase in the average sales price for single-family homes and condominiums. The average sales price for a single-family home rose to $2.46 million in Q2 2016, a 2.5 percent increase from an average of $2.40 million in Q2 2015. Condominiums in the district sold for an average of $1.16 million in Q2 2016, a 1.8 percent increase from average of $1.14 million in Q2 2015. The available inventory in the district may have helped increase the average sales price. The total number of single-family homes sold remained flat at eight units sold in Q2 2016, the same number of homes that were sold in the previous quarter. The total number of condominiums fell to 67 units sold in Q2 2016, a 10.7 drop from the 75 units sold in Q2 2015.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 80
80
70 $1,200,000
70
60
60
50
50
$1,000,000
$800,000
40
40
$600,000
30
30
$400,000 20
20
10
10
$200,000
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
$656,646
$792,549
$871,142
$1,015,559
$1,052,092
3.6 percent
AVERAGE SOLD PRICE
$673,556
$853,147
$972,833
$1,136,493
$1,156,785
1.8 percent
AVERAGE DAYS ON MARKET
68
36
34
28
34
24.5 percent
TOTAL CONDOS SOLD
82
96
77
75
67
-10.7 percent
CONDOMINIUMS | Q2
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
$8,000,000
$8,000,000
$7,000,000
$7,000,000
$6,000,000
$6,000,000
$5,000,000
$5,000,000
$4,000,000
$4,000,000 30
$3,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$1,000,000
60
50
40
20
10
$-
0
2012
2013
2014
2015
2016
$-
2012
2012
2013
2013
2014
SanSan Francisco Francisco
2015
2014
2015
2016
2016
District District77
San Francisco
District 7
SINGLE FAMILY HOMES | Q2
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$3,691,656
$4,050,340
$4,385,971
$7,101,306
$5,404,333
-23.9 percent
AVERAGE SOLD PRICE
$3,712,693
$4,115,213
$4,603,332
$7,042,252
$5,610,121
-20.3 percent
AVERAGE DAYS ON MARKET
43
26
45
19
48
148.8 percent
TOTAL SINGLE FAMILY HOMES SOLD
41
47
34
31
33
6.5 percent
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
12
DISTRICT 7
CONDOMINIUM SALES Q2 MARKET OVERVIEW
In District 7 prices were down as the total number of sales rose in the second quarter of 2016 compared to the same time in 2015. The average sales price for a single-family home fell 20.3 percent, down to $5.61 million in Q2 2016 compared to $7.04 million in Q2 2015. The average sales price for a condominium also decreased from $1.94 million in Q2 2015 to $1.74 million in Q2 2016, a 10.3 percent slide year-over-year. The average sales price fell, despite an increase in the number of units sold. The total number of single-family homes sold climbed to 33 units closed in Q2 2016, from 31 units closed in Q2 2015. A total of 81 condominiums were sold in Q2 2016, up from 64 units sold in Q2 2015. More options in the area led buyers to take their time closing deals. A single-family home was sold in an average of 48 days in Q2 2016, compared to an average of 19 days in Q2 2015. Condominiums stayed on the market an average of 21 days in Q2 2015, but that average increased to 29 days in Q2 2016.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$2,500,000
80 70
$2,000,000 60 50
$1,500,000
40 $1,000,000
30 20
$500,000
$-
10 0 2012
2013
San Francisco
2014
2015
2016
2012
District 7
2013
2014
2015
San Francisco
2016
District 7
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$1,149,175
$1,188,857
$1,498,343
$1,771,890
$1,669,593
-5.8 percent
AVERAGE SOLD PRICE
$1,153,862
$1,256,050
$1,598,884
$1,937,300
$1,738,397
-10.3 percent
AVERAGE DAYS ON MARKET
72
44
28
21
29
40.7 percent
TOTAL CONDOS SOLD
89
116
99
64
81
26.6 percent
CONDOMINIUMS | Q2
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
$5,000,000 100
100 $4,500,000 90
90
$4,000,000 80
80
$3,500,000 70
70
$3,000,000 60
60
$2,500,000 50
50
$2,000,000 40
40
30 $1,500,000
30
20 $1,000,000
20
10 $500,000
10
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
$3,257,000
$3,573,625
$4,423,494
$2,297,857
$3,654,167
59 percent
AVERAGE SOLD PRICE
$3,178,571
$3,538,750
$4,362,656
$2,589,571
$3,656,667
41.2 percent
40
28
86
17
44
162.5 percent
7
8
8
7
6
-14.3 percent
SINGLE FAMILY HOMES | Q2
AVERAGE DAYS ON MARKET
TOTAL SINGLE FAMILY HOMES SOLD
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
14
DISTRICT 8
CONDOMINIUM SALES Q2 MARKET OVERVIEW
Both the average sales price for a condominium and the total number of condominiums sold in District 8 fell in the second quarter of 2016. Condominiums sold at an average of $1.35 million in Q2 2016, an 11.6 percent decline compared to an average of $1.53 million in Q2 2015. The average sales price fell despite a decrease in the number of units sold. Since 2012, as the total number of units sold declined in Q2 the average sales price increased. The total number of condominiums sold fell from 138 units sold in Q2 2015 to 128 units sold in Q2 2016, but this time the low inventory did not correlate to higher sales prices in the area. In Q2 2015, the average sales price for a single-family home fell to $2.59 million, but rebounded back to $3.66 million in Q2 2016. A total of six single-family homes were sold in Q2 2016, down from seven units sold in Q2 2015.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,800,000
$1,800,000 70
$1,600,000
$1,600,000 60
$1,400,000
$1,400,000
$1,200,000
50 $1,200,000
$1,000,000
40 $1,000,000
$800,000
$800,000 30
$600,000
$600,000 20
$400,000
$400,000
$200,000
10 $200,000
$-
0 2012
2013
San Francisco
2014
2015
2016
$-
2012 2012
2013 2013
20142014
San San Francisco
District 8
2015 2015
2016 2016
District88 District
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$792,071
$1,075,967
$1,238,206
$1,483,931
$1,307,873
-11.9 percent
AVERAGE SOLD PRICE
$786,624
$1,103,634
$1,280,344
$1,528,317
$1,350,932
-11.6 percent
AVERAGE DAYS ON MARKET
56
37
42
34
30
-13.4 percent
TOTAL CONDOS SOLD
139
163
146
138
128
-7.2 percent
CONDOMINIUMS | Q2
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 | Q2
2012
2013
2014
2015
2016
Percent Change (2016 v 2015)
AVERAGE LIST PRICE
$780,688
$1,000,038
$1,005,230
$1,291,279
$1,360,267
5.3 percent
AVERAGE SOLD PRICE
$827,454
$1,119,346
$1,195,480
$1,574,533
$1,554,173
-1.3 percent
AVERAGE DAYS ON MARKET
55
34
25
20
28
36.5 percent
TOTAL SINGLE FAMILY HOMES SOLD
59
87
56
63
76
20.6 percent
SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco
16
DISTRICT 9
CONDOMINIUM SALES Q2 MARKET OVERVIEW
While the rest of the City saw average sales prices decrease, the average sales price remained flat in District 9. Singlefamily homes sold at an average of $1.58 million in Q2 2016, a minor change from an average of $1.55 million in Q2 2015. The average sales price for condominiums also saw a slight increase, up to $1.28 million in Q2 2016 compared to $1.27 million in Q2 2015. Yet, while the average sales price stayed flat, the number of units sold shifted depending on the unit type. Total sales of single-family homes were up to 76 units closed, a 20.6 percent increase from the 63 units closed in Q2 2015. Moving in the opposite direction, the total number of condominiums closed was down 19.6 percent, from 321 units closed in Q2 2015 to 258 units sold in Q2 2016. Both listing types stayed on the market longer in Q2 2016. A single-family home remained on the market an average 28 days in Q2 2016, up from 20 in Q2 2015. The average days on market for a condominium rose from 30 days in Q2 2015 to 41 days in Q2 2016.
AVERAGE SALES PRICE
AVERAGE DAYS ON MARKET
$1,400,000 80
80
70 $1,200,000
70
60 $1,000,000
60 50
50 $800,000
40
40
$600,000 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
$723,197
$898,150
$1,036,862
$1,200,894
$1,256,509
4.6 percent
AVERAGE SOLD PRICE
$724,689
$925,309
$1,094,887
$1,270,923
$1,275,736
0.4 percent
74
34
27
30
41
37 percent
254
325
345
321
258
-19.6 percent
CONDOMINIUMS | Q2
AVERAGE DAYS ON MARKET
TOTAL CONDOS SOLD
17
SIGNIFICANT SALES | Q2 2016
APTOS | Web: 0474368 | $12,988,000 Seller Represented | San Francisco Brokerage Arthur Sharif 650.804.4770
PACIFIC HEIGHTS | Web: 0087913 | $11,000,000 Seller Represented | San Francisco Brokerage Neil Bassi 415.412.3089, Gregg Lynn 415.901.1780
PRESIDIO HEIGHTS | Web: 0081886 | $10,275,000 Buyer Represented | San Francisco Brokerage Linda S Gordon 415.602.1471
PRESIDIO HEIGHTS | Web: 0087922 | $6,750,000 Seller Represented | San Francisco Brokerage Janet Schindler 415.265.5994
RUSSIAN HILL | Web: 0081926 | $6,300,000 Buyer Represented | San Francisco Brokerage Carrie B. Goodman 415.624.4166
HAYES VALLEY | Web: 0081890 | $6,000,000 Buyer Represented | San Francisco Brokerage Callum Hutchins 415.265.1602
AUCTION CALENDAR JUL | AUG | SEPT 2016
Old Master and British Works on Paper Including drawings from the Oppé Collection London 05-06 July Celebration of the English Watch Part II: John Harrison’s Enduring Discovery London 07 July Victorian, Pre-Raphaelite & British Impressionist Art London 14 July Contemporary Living New York 28 July RM Sotheby’s: Motor City Michigan 30 July
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2016
RM Sotheby’s: Monterey Monterey 19 August A Unique Crystal Magnum Decanter of Special Louis XIII Cognac Engraved with a Map of the Americas & Finest & Rarest Wines New York 09-10 September Asia Week New York 13-17 September Important Jewels New York 22 September Contemporary Curated New York 29 September
CRYSTAL MAGNUM DECANTER OF UNIQUE LOUIS XIII COGNAC AMERICAS EDITION Estimate $100,000+ New York 10 September An Asia and Europe edition were also commissioned and will be offered in Hong Kong on 1 October and in London on 16 November, respectively
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 0138486 | $5,600,000 LOS ANGELES, CA | Web: 0308644 | $5,555,000 HOUSTON, TX | Web: 1233885 | $5,495,000 RESORT MARKETS MONTECITO, CA | Web: 0113991 | $5,950,000 SONOMA, CA | Web: 0244108 | $5,850,000 EAST HAMPTON, NY | Web: 0047323 | $4,995,000 FOREIGN MARKETS ISRAEL | Web: WPKBBF | $5,973,871 THAILAND | Web: 3WLKEC | $5,700,000 IBIZA | Web: RCQ57V | $5,508,569 sothebysrealty.com