San Francisco Market Update | Q4 2015

San Francisco, CA | web: 0087687

San Francisco Market Update Fourth Quarter 2015 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 As 2015 came to a close, the San Francisco real estate market continued to follow the same themes as the rest of year in the fourth quarter of 2015, according to the San Francisco Multiple Listing Service. The first three quarters of 2015 were marked by a dwindling inventory and a rise in average sales price. That trend marched on throughout the city in Q4 2015, as demand continued to far outpace supply.

Five years ago, the average price-per-square-foot for a SF single-family home in Q4 2011 was $488. Compare that to Q4 2015, where the average has almost doubled at $828 per-square-foot.

The average price-per-square-foot for a SF condominium has also grown significantly, with the average at $591 per-square-foot in Q4 2011 to $1,006 per-square-foot in Q4 2015.

Jeffrey G. Gibson SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700 sothebyshomes.com/sanfrancisco

When comparing the average sales price year over year, prices again soared, according to the San Francisco Multiple Listing Service. Condominiums saw the average sales price grow 11 percent, from $1,110,360 in Q4 2014 to $1,232,400 in Q4 2015. The average sales price for a single-family home also climbed from $1,534,800 in Q4 2014 to $1,619,900 in Q4 2015, a 5.5 percent increase.

Inventory was sparse throughout the City, causing the total sales of single-family homes and condominiums to fall from the prior year. A total of 619 single-family homes were sold in Q4 2015, a 5.4 percent decrease from the 654 units sold in Q4 2014. The total sales of condominiums also decreased 2.3 percent, falling from 742 units sold in Q4 2014 to 725 units sold in Q4 2015.

Q4 TOTAL CLOSED SALES (SINGLE FAMILY HOMES) 2011

2012

2013

2014

2015

665

736

679

654

619

DISTRICT 1

48

62

57

61

42

DISTRICT 4

84

110

92

94

104

DISTRICT 5

92

107

92

93

81

DISTRICT 6

7

19

13

15

10

DISTRICTS 7 AND 8

38

57

45

43

31

DISTRICT 9

58

51

69

66

73

SAN FRANCISCO (TOTAL)

760 740 720 700 680 660 640 620 600 580 560

2011

2012

2013

2014

2015

Source: SFARMLS - October 1-December 31 each year.

Q4 TOTAL CLOSED SALES (CONDOS) 900

2011

2012

2013

2014

2015

593

796

839

742

725

DISTRICT 1

33

40

35

38

46

DISTRICT 4

8

15

14

15

10

DISTRICT 5

102

131

121

100

118

DISTRICT 6

59

84

100

84

71

DISTRICTS 7 AND 8

183

222

226

211

187

DISTRICT 9

182

265

299

259

250

SAN FRANCISCO (TOTAL)

800 700 600 500 400 300 200 100 0

2011

2012

2013

2014

2015

Source: SFARMLS - October 1-December 31 each year.

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.

FEATURED PROPERTIES

PRESIDIO HEIGHTS Web ID: 0087485 | $12,000,000 Spectacular, contemporary, renovated home.

5 bedrooms, 4 full baths, 2 half baths.

101Maple.com Jon Taylor, Gloria Smith | 415.722.2812

NOE VALLEY Web ID: 0087581 | Price Upon Request Historic firehouse converted into stunning residence. 4bd, 3 full, 2 half ba, 2 car garage.

NoeFirehouse44.com Carrie B. Goodman | 415.624.4166

LAKE Web ID: 0087556 | $3,195,000 Architecturally significant 2-story Mid-Century.

3bd/3ba, Golden Gate Bridge views, garden, garage. 301ElCamino.com Caroline Kahn Werboff | 415.296.2210

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

$2,000,000 70 $1,800,000

70

60 $1,600,000

60

$1,400,000 50

50

$1,200,000 40 $1,000,000

40

30$800,000

30

$600,000 20 $400,000 10 $200,000 0

$-

2011

20 10

2011

2012 2012

20132013

San Francisco San Francisco

2014 2014

0

2015 2015

2011

District 1 1 District

2012

2013

2014

San Francisco

2015

District 1

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$1,261,479

$1,502,994

$1,479,163

$1,642,729

$1,584,155

-3.6%

AVERAGE SOLD PRICE

$1,251,753

$1,557,809

$1,591,397

$1,805,031

$1,732,857

-4.0%

AVERAGE DAYS ON MARKET

52

42

33

29

28

-3.9%

TOTAL SINGLE FAMILY HOMES SOLD

48

62

57

61

42

-31.1%

SINGLE FAMILY HOMES | Q4

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

4

DISTRICT 1

CONDOMINIUM SALES Q4 MARKET OVERVIEW

Like the rest of San Francisco, total sales of single family homes were down in District 1, falling 31.1 percent from Q4 2014 to Q4 2015. Buyers in the District continued to close deals sooner rather than later, as a single family home stayed on the market an average of 28 days in Q4 2015. Despite a low supply in the district, the average sales price fell 4 percent in Q4 2015, going from $1,805,031 in Q4 2014 to $1,732,857 in Q4 2015, one of the few areas in the City to see prices drop. The sales figures for condominiums in District 1 also bucked citywide trends. Like single family homes in the area, the average sales price for a condominium decreased 8.6 percent, falling from $1,181,224 in Q4 2014 to $1,080,076 in Q4 2015. While the rest of the city mostly experienced dips in total sales, District 1 saw a 21.1 percent increase in condominiums sold, up from 38 units sold in Q4 2014 to 46 units sold in Q4 2015.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET 90 70 80

$1,400,000 70 $1,200,000 60

60 70

$1,000,000 50

50 60

$800,000

50 40

$600,000

40 30

20 $400,000

30 20 20

10 $200,000

10 10

40 30

0

$2011

2012 2012

2011

20132013

San Francisco San Francisco

2014 2014

0

2015 2015

2011 2011

District 1 1 District

2012 2012

2013 2013

2014 2014

San Francisco San Francisco

2015 2015

District 1 1 District

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$693,570

$792,410

$887,770

$1,132,711

$1,028,696

-9.2%

AVERAGE SOLD PRICE

$677,530

$823,267

$910,916

$1,181,224

$1,080,076

-8.6%

AVERAGE DAYS ON MARKET

80

55

41

37

35

-4.3%

TOTAL CONDOS SOLD

33

40

35

38

46

21.1%

CONDOMINIUMS | Q4

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 $1,600,000

$1,800,000 70 $1,600,000

$1,400,000

60 $1,400,000

$1,200,000

50 $1,200,000

$1,000,000

$1,000,000 40

$800,000

$800,000 30

$600,000 $400,000

$600,000 20 $400,000

$200,000

10$200,000

$-

2011

2012

San Francisco

2013

2014

0

2015

$-

2011

2011

2012 2012

20132013

San SanFrancisco Francisco

District 4

2014 2014

2015 2015

District44 District

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$870,248

$1,049,765

$1,122,029

$1,225,321

$1,427,792

16.5%

AVERAGE SOLD PRICE

$877,021

$1,081,658

$1,195,500

$1,374,731

$1,587,561

15.5%

AVERAGE DAYS ON MARKET

58

47

37

24

24

0%

TOTAL SINGLE FAMILY HOMES SOLD

84

110

92

94

104

10.6%

SINGLE FAMILY HOMES | Q4

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

6

DISTRICT 4

CONDOMINIUM SALES Q4 MARKET OVERVIEW

For single family homes in District 4, almost everything was on the rise in Q4 2015. After total sales of single family homes fell to 92 units sold in Q4 2013, the total began to climb, from 94 units sold in Q4 2014 to 104 units sold in Q4 2015—one of the few districts in San Francisco to see an increase in sales in Q4 2015. The average sales price for a single family home followed suit, going up 15.5 percent, from $1,374,731 in Q4 2014 to $1,587,561 in Q4 2015. By contrast, condominiums in District 4 tended to fall in line with the rest of the city, with lower total sales and an increase in average sales price. Total sales of condominiums in the District fell 33.3 percent, from 15 units sold in Q4 2014 to 10 units sold in Q4 2015. The average sales price for condominiums grew from $593,997 in Q4 2014 to $706,754 in Q4 2015, a 19 percent increase.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET

$1,800,000 $1,400,000

90 $1,800,000

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

80 $1,600,000

$1,400,000 $1,000,000 $1,200,000

70 $1,400,000

$800,000 $1,000,000

50 $1,000,000

$800,000 $600,000

40$800,000

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

30$600,000

60 $1,200,000

20$400,000

$200,000 $200,000 $$-

10$200,000 2011

2012

San Francisco

2013

2014

0

2015 2015

$-

2011

2011

District 4

2012 2012

20132013

San Francisco San Francisco

2014 2014

2015

District 44 District

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$393,000

$461,427

$468,060

$540,297

$668,800

23.8%

AVERAGE SOLD PRICE

$393,875

$475,367

$482,596

$593,997

$706,754

19.0%

AVERAGE DAYS ON MARKET

62

76

53

35

28

-18.5%

TOTAL CONDOS SOLD

8

15

14

15

10

-33.3%

CONDOMINIUMS | Q4

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

80

90 70 80

$2,000,000 70

60 70

60

50 60

$1,500,000 50

50 40

90 $2,500,000

40 30 30 20 20

40 $1,000,000 30 20$500,000

10 10

10 0

$-

2011

2011

2012 2012

20132013

San Francisco San Francisco

2014 2014

0

2015 2015

2011

2012 2012

2013 2013

2014 2014

Francisco SanSan Francisco

District 55 District

2015 2015

District55 District

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$1,382,486

$1,469,944

$1,761,042

$1,945,438

$2,072,037

6.5%

AVERAGE SOLD PRICE

$1,383,789

$1,547,670

$1,864,321

$2,135,397

$2,268,185

6.2%

AVERAGE DAYS ON MARKET

57

36

33

26

25

-4.6%

TOTAL SINGLE FAMILY HOMES SOLD

92

107

92

93

81

-12.9%

SINGLE FAMILY HOMES | Q4

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

8

DISTRICT 5

CONDOMINIUM SALES Q4 MARKET OVERVIEW

The average sales price for a single family home and a condominium in District 5 continued to ascend in Q4 2015. A condominium sold at an average of $1,248,103 in Q4 2015, a 9.6 percent increase from Q4 2014. The average sales price for a single family home also experienced growth, up 6.2 percent from $2,135,397 in Q4 2014 to $2,268,185 in Q4 2015. While prices climbed in the district, total sales of single family homes and condominiums went off in different directions in Q4 2015. Following the citywide trend, total sales of single family homes fell to 81 units, a 12.9 decrease compared year over year, and one of the lowest totals seen in the last few years of Q4. However, after falling to 100 total units sold in Q4 2014, total sales of condominiums rebounded 18 percent in Q4 2015, with 118 units sold.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET

90 $1,400,000

90

80 $1,200,000

80

70 $1,000,000 60

70

50$800,000

50

40$600,000

40

30 $400,000 20

30

60

20

$200,000 10 0

$-

2011

10 2011

2012 2012

20132013

San Francisco San Francisco

2014 2014

0

2015 2015

2011

District 55 District

2012

2013

2014

San Francisco

2015

District 5

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$768,415

$803,437

$976,641

$1,043,960

$1,121,958

7.5%

AVERAGE SOLD PRICE

$764,314

$851,196

$1,071,095

$1,139,201

$1,248,103

9.6%

AVERAGE DAYS ON MARKET

77

48

37

35

31

-12.1%

TOTAL CONDOS SOLD

102

131

121

100

118

18.0%

CONDOMINIUMS | Q4

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

$1,400,000 $3,000,000

$1,400,000 70

$1,200,000 $2,500,000

$1,200,000 60

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

$1,000,000 50

$800,000

40

$1,500,000

$600,000

30

$800,000 $600,000

$1,000,000 $400,000

20 $400,000

$500,000 $200,000

10 $200,000

$$-

2011 2011

2012 2012

San Francisco

2013

2014

0

2015

$2011

2011

2012 2012

20132013

2014 2014

San SanFrancisco Francisco

District 6

2015 2015

District 6

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$1,703,857

$1,652,211

$1,755,923

$2,345,400

$2,466,800

5.2%

AVERAGE SOLD PRICE

$1,704,057

$1,698,895

$1,888,385

$2,430,867

$2,699,000

11.0%

66

36

26

27

31

17.4%

7

19

13

15

10

-33.3%

SINGLE FAMILY HOMES | Q4

AVERAGE DAYS ON MARKET

TOTAL SINGLE FAMILY HOMES SOLD

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

10

DISTRICT 6

CONDOMINIUM SALES Q4 MARKET OVERVIEW

Much like the rest of the city, average sales prices were up and total sales were down in District 6. The average sales price for a single family home rose 11 percent, moving up from $2,430,867 in Q4 2014 to $2,699,000 in Q4 2015. Condominiums saw even greater growth, with the average sales price jumping from $1,008,712 in Q4 2014 to $1,219,372 in Q4 2015, a 20.9 percent increase and one of the largest increases in average sales price in the city. Low inventory throughout the district may have contributed to increased prices. A total of 10 single family homes were sold in Q4 2015, a 33.3 percent drop from the 15 units sold in Q4 2014. Total sales of condominiums were also down 15.5 percent, from 84 units sold in Q4 2014 to 71 in Q4 2015.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET

$1,400,000

$1,400,000 90 $1,400,000

$1,200,000

80 $1,200,000 $1,200,000

$1,000,000

70 $1,000,000 $1,000,000 60

$800,000

$800,000 50$800,000

$600,000

40$600,000 $600,000

$400,000

30 $400,000 $400,000 20

$200,000

$200,000 10 $200,000

$-

2011

2012

San Francisco

2013

2014

0

2015

$-

$-2011

2011

2011

District 6

2012 2012 2012

20132013

San Francisco San Francisco San Francisco

2014 2014

2013

2015 2015

2014

2015

District District 6 66 District

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$648,249

$690,084

$782,040

$915,557

$1,116,934

22.0%

AVERAGE SOLD PRICE

$649,085

$718,443

$831,735

$1,008,712

$1,219,372

20.9%

AVERAGE DAYS ON MARKET

69

64

29

49

35

-29.2%

TOTAL CONDOS SOLD

59

84

100

84

71

-15.5%

CONDOMINIUMS | Q4

11

DISTRICTS 7 and 8

SINGLE FAMILY HOME SALES ABOUT DISTRICTS 7 and 8 Districts 7 and 8 host some of the most impressive homes in the city. District 7 includes Cow Hollow, the Marina, Pacific Heights and Presidio Heights neighborhoods. The Golden Gate Bridge and the San Francisco Bay are to the north and downtown is to the east, making it ideal for both work and recreation. District 8 includes the business and financial center of San Francisco and serves as a popular tourist destination. Residential neighborhoods include North Beach, Russian Hill, Nob Hill, Telegraph Hill and North Waterfront.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET

100 $6,000,000

100 70 90

90 $5,000,000 80

60 80

70 $4,000,000 60

70 50 60 40 50

$3,000,000 50

40 $2,000,000 30

30 40

20 $1,000,000

20 10 10

30 20

10 0

$-

2011

2011

2012 2012

20132013

SanFrancisco Francisco San

2014 2014

00

2015

2011 2011

2012 2012

2013 2013

San Francisco San Francisco

Districts Districts77&&88

2014 2014

2015 2015

Districts Districts 77 & &8 8

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$3,978,059

$4,456,228

$4,285,031

$4,308,093

$5,451,581

26.5%

AVERAGE SOLD PRICE

$3,777,430

$4,332,079

$4,316,067

$4,429,488

$5,428,448

22.6%

AVERAGE DAYS ON MARKET

59

53

45

39

38

-2.8%

TOTAL SINGLE FAMILY HOMES SOLD

38

57

45

43

31

-27.9%

SINGLE FAMILY HOMES | Q4

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

12

DISTRICTS 7 and 8

CONDOMINIUM SALES Q4 MARKET OVERVIEW

Districts 7 and 8 made a strong case that a shortage of inventory drove prices up in San Francisco in Q4 2015. This was especially evident for single family homes in the area which saw one of the largest declines in total sales and one of the biggest gains in average sales price. Total sales in the district had dropped 27.9 percent, from 43 units sold in Q4 2014 to 31 units sold in Q4 2015. The limited number of sales pushed the average sales price for a single family home up from $4,429,488 in Q4 2014 to $5,428,448 in Q4 2015, a 22.6 percent increase. Condominiums in the area also saw a drop in total sales and an increase in average sales price. Total sales of condominiums fell 11.4 percent in Q4 2015, from 211 units sold in Q4 2014 to 187 units sold in Q4 2015. The average sales price for a condominium went up from $1,333,006 in Q4 2014 to $1,413,381 in Q4 2015.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET

100 $1,600,000

100

90 $1,400,000

90

80 $1,200,000 70

80 70

$1,000,000 60

60

50$800,000

50

40 $600,000

40

30 $400,000 20

30 20

$200,000 10

0

$-

2011

10 2011

2012 2012

SanFrancisco Francisco San

20132013

2014 2014

0

2015 2015

2011

Districts Districts77&&88

2012

2013

San Francisco

2014

2015

Districts 7 & 8

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$880,693

$1,109,972

$1,183,534

$1,277,180

$1,350,666

5.8%

AVERAGE SOLD PRICE

$859,102

$1,110,151

$1,210,598

$1,333,006

$1,413,381

6.0%

AVERAGE DAYS ON MARKET

90

56

44

42

32

-22.8%

TOTAL CONDOS SOLD

183

222

226

211

187

-11.4%

CONDOMINIUMS | Q4

13

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

90 $1,800,000 80 $1,600,000

90 70 80

70 $1,400,000

60 70

60 $1,200,000

50 60

50 $1,000,000

50 40

40$800,000

40 30

30$600,000 20$400,000

30 20 20

10$200,000

10 10

0

$-

2011

2011

2012 2012

20132013

San Francisco San Francisco

2014 2014

0

2015

2011

2012 2012

2013 2013

SanFrancisco Francisco San

District 99 District

2014 2014

2015 2015

District 9 9 District

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$727,643

$875,138

$1,120,636

$1,173,252

$1,299,411

10.8%

AVERAGE SOLD PRICE

$756,364

$934,608

$1,265,595

$1,331,576

$1,450,050

8.9%

AVERAGE DAYS ON MARKET

52

41

27

26

24

-8.7%

TOTAL SINGLE FAMILY HOMES SOLD

58

51

69

66

73

10.6%

SINGLE FAMILY HOMES | Q4

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

14

DISTRICT 9

CONDOMINIUM SALES Q4 MARKET OVERVIEW

District 9 was one of the few areas in San Francisco that saw total sales of a single family home go up. A total of 73 homes were sold in Q4 2015, a 10.6 percent increase over Q4 2014. The increase in closed units did not affect buyer demand, as the average sales price also grew 8.9 percent, from $1,331,576 in Q4 2014 to $1,450,050 in Q4 2015.

Buyers also quickly closed deals, as a single family home stayed on the market an average of 24 days in Q4 2015.

Despite total sales slightly falling in Q4 2015, condominiums were still in high demand in District 9. Total sales of condominiums decreased 3.5 percent in Q4 2015, with the area closing 259 units in Q4 2014 to 250 units in Q4 2015.

Buyers drove the average sales price up to $1,209,170, a 16.4 percent increase over Q4 2014.

AVERAGE SALES PRICE

AVERAGE DAYS ON MARKET

90 $1,400,000

90

80 $1,200,000

80

70 $1,000,000 60

70

50$800,000

50

40$600,000

40

30 $400,000 20

30

60

20

$200,000 10

0

$-

2011

10 2011

2012 2012

20132013

San Francisco San Francisco

2014 2014

0

2015 2015

2011

District 99 District

2012

2013

2014

San Francisco

2015

District 9

2011

2012

2013

2014

2015

% Change (2015 v 2014)

AVERAGE LIST PRICE

$879,026

$907,292

$957,431

$1,009,800

$1,167,707

15.6%

AVERAGE SOLD PRICE

$820,527

$908,471

$983,846

$1,038,658

$1,209,170

16.4%

AVERAGE DAYS ON MARKET

77

53

39

37

36

-4.6%

TOTAL CONDOS SOLD

182

265

299

259

250

-3.5%

CONDOMINIUMS | Q4

15

SIGNIFICANT SALES | Q4 2015

PACIFIC HEIGHTS | Web: 0081635 | $12,500,000 | Buyer Represented San Francisco Brokerage | Ludovico Mazzola 415.296.2213

PACIFIC HEIGHTS | Web: 0087395 | $9,000,000 | Seller Represented San Francisco Brokerage | Caroline Kahn-Werboff 415.296.2210

COW HOLLOW | Web: 0087385 | $9,000,000 | Seller Represented San Francisco Brokerage | Janet Feinberg Schindler 415.265.5994

MARINA | Web: 0081777 | $7,100,000 | Buyer Represented San Francisco Brokerage | Rebecca Schumacher 415.928.3800

COW HOLLOW | Web: 0081734 | $6,995,000 | Buyer Represented San Francisco Brokerage | Carrie B. Goodman 415.624.4166

COW HOLLOW | Web: 0087641 | $5,150,000 | Seller Represented San Francisco Brokerage | Neill Bassi 415.412.3089

AUCTION CALENDAR FEB | MAR | APR | MAY 2016

Paul Gauguin | Nature morte aux mangos et à la fleur d’hibiscus Estimate £2-3m

RM Sotheby’s: Paris Paris 03 Feb

Watches London 08 Mar

Impressionist & Modern Art Evening Sale London 03 Feb

Important Ceramics by Pablo Picasso London 05 Ap

Contemporary Art Evening Auction London 10 Feb

20th Century Art / Middle East London 18 Apr

Finest & Rarest Wines New York 27 Feb

Orfèvrerie, Boîtes en Or et Objets de Vitrine Paris 04 May

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. 2015

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 00110466 | $5,200,000 SAN FRANCISCO, CA | Web: 0087635 | $5,500,000 HOUSTON, TX | Web: 1250301 | $5,499,000 RESORT MARKETS PEBBLE BEACH, CA | Web: 0474307 | $5,895,000 PALM BEACH, FL | Web: 0076834 | $5,995,000 MONTECITO, CA | Web: 0632357 | $5,495,000 FOREIGN MARKETS SPAIN | Web: NF2L59 | $5,584,178 FRANCE | Web: 5Q5HYV | $5,431,240 ISRAEL | Web: 9ZWTEE | $5,657,127 sothebysrealty.com