2016 Q1 Condo Update PAUL HWANG | RANKED #1 IN SOUTH BEACH 415.216.8746 | PAUL@SKYBOXREALTY.COM
MILLENNIUM TOWER | 14 - 15
THE INFINITY | 8 - 9
THE METROPOLITAN | 10 - 11 THE WATERMARK | 18 - 19 ONE RINCON HILL | 12 - 13 ONE HAWTHORNE | 16 - 17
5
Dear Neighbors, The South Beach / Yerba Buena Market slowed down in Q1 2016 with 62 units sold at an average $1,250/SF compared to Q1 2015 with 83 units sold at an average $1,204/SF. DOM increased also at 43 compared to 38. The presence of overseas buyers for resale properties that drove previous markets were absent in Q1. Resales were also affected by large developments such as Lumina taking a large portion of the buyer pool. Resales may face additional downward pressure from new developments such as 181 Fremont, The Harrison, and One Mission Bay. Please contact me for a detailed analysis of your property.
Best Regards, Paul Hwang | Principal Broker Ranked #1 in South Beach 415.216.8746
This document has been prepared by Skybox Realty for advertising and general information only. Skybox Realty makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Skybox Realty excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
SOUTH BEACH
2016 Q1 FAST FACTS # SOLD
AVG $/SF
AVG SALE PRICE
49 $1,277 $1,252,466 CUMULATIVE $/SF DATA FOR PAST YEAR
$1300 $1200 $1100 $1000
2015 Q2
2015 Q3
2015 Q4
2016 Q1
7
YERBA BUENA
2016 Q1 FAST FACTS # SOLD
AVG $/SF
AVG SALE PRICE
13 $1,142 $1,280,139 CUMULATIVE $/SF DATA FOR PAST YEAR $1400 $1300 $1200 2015 Q2
2015 Q3
2015 Q4
2016 Q1
$1100
All Data From SFARMLS
301 / 333 MAIN | 318 / 338 SPEAR
THE INFINITY SOLD ACTIVE ACTIVE CONTINGENT PENDING D37E | $3,000,000 (2BR) $2239/sf D37F | $2,395,000 (3BR) $1483/sf D35E | $2,699,000 (2BR) $2014/sf
D26G | $1,350,000 (1BR) $1673/sf
D21F | $2,599,000 (2BR) $1985/sf D21C | $1,525,000 (1BR) $1887/sf
D17B | $2,850,000 (2BR) $2154/sf
A4C | $998,000 (1BR) $1226/sf
# SOLD
3
AVG $/SF
AVG SALE PRICE
$1,588 $1,474,667
AVG DOM
7
COMPARED TO 2015 Q1 8
$1,543
$2,088,625
45
B37B | $7,995,000 (3BR) $2364/sf
B32E | $3,195,000 (3BR) $1903/sf B32A | $2,599,000 (2BR) $2050/sf
B26E | $1,799,000 (2BR) $1525/sf B26F | $2,250,000 (2BR) $1721/sf
B22F | $1,995,000 (2BR) $1526/sf B21F | $1,899,888 (2BR) $1454/sf
B18A | $1,649,000 (2BR) $1393/sf B17B | $2,050,000 (2BR) $1557/sf
C8E | $749,000 (0BR) $1319/sf C7G | $899,000 (1BR) $1074/sf
C7K | $959,000 (1BR) $1157/sf
C5L | $949,000 (2BR) $1114/sf
B5C | $2,300,000 (2BR) $1313/sf All Data From SFARMLS
C2B | $1,199,000 (1BR) $1062/sf
9
333 - 355 1ST
THE METROPOLITAN SOLD ACTIVE ACTIVE CONTINGENT PENDING
N1801 | $1,399,000 (2BR) $1460/sf N1702 | $890,000 (1BR) $1248/sf N1405 | $900,000 (1BR) $1269/sf
N807 | $375,798 (2BR) bmr
# SOLD
6
AVG $/SF
AVG SALE PRICE
$1,301 $1,004,917
AVG DOM
41
COMPARED TO 2015 Q1 4
$1,311
$1,318,500
29
S2201 | $1,950,000 (2BR) $1305/sf
S1702 | $1,548,000 (2BR) $1346/sf S1703 | $990,000 (1BR) $1245/sf S1503 | $1,124,500 (1BR) $1414/sf
S208 | $555,000 (0BR) $1285/sf All Data From SFARMLS
11
425 1ST | 489 HARRISON
ONE RINCON HILL SOLD ACTIVE ACTIVE CONTINGENT PENDING # SOLD
4
AVG $/SF
AVG SALE PRICE
$1,688 $2,174,250
AVG DOM
77
COMPARED TO 2015 Q1 6
$1,410
$1,111,667
32
13 6003 | $3,700,000 (3BR) $2206/sf 5803 | $3,898,000 (3BR) $2324/sf
4905 | $1,007,000 (1BR) $1418/sf
4404 | $925,000 (1BR) $1529/sf
4402 | $2,950,000 (2BR) $2254/sf
4202 | $2,495,000 (2BR) $1906/sf
3206 | $1,800,000 (2BR) $1454/sf
2708 | $1,269,000 (1BR) $1681/sf 2507 | $1,199,000 (1BR) $1464/sf
1902 | $2,190,000 (2BR) $1673/sf 1903 | $1,800,000 (2BR) $1408/sf
1402 | $2,095,000 (2BR) $1600/sf 1306 | $1,595,000 (2BR) $1288/sf
All Data From SFARMLS
301 MISSION
MILLENNIUM SOLD ACTIVE ACTIVE CONTINGENT PENDING
906 | $2,350,000 (1BR) $1439/sf 704 | $2,295,000 (2BR) $1545/sf 606 | $1,900,000 (1BR) $1164/sf 601 | $2,600,000 (2BR) $1330/sf
49B | $8,995,000 (3BR) $2713/sf
# SOLD
3
AVG $/SF
AVG SALE PRICE
$1,369 $2,666,667
AVG DOM
93
COMPARED TO 2015 Q1 4
$1,641
$2,545,000
57
53C | $7,495,000 (2BR) $2659/sf
49A | $7,195,000 (2BR) $2659/sf
45D | $4,375,000 (2BR) $2131/sf
38B | $2,895,000 (2BR) $1752/sf
33C | $3,500,000 (3BR) $1613/sf 31E | $2,595,000 (2BR) $1514/sf
27E | $2,495,000 (2BR) $1456/sf
23E | $1,850,000 (2BR) $1629/sf
7C | $1,100,000 (1BR) $1321/sf
All Data From SFARMLS
15
1 HAWTHORNE LANE
ONE HAWTHORNE SOLD ACTIVE ACTIVE CONTINGENT PENDING
11A | $1,095,000 (1BR) $1197/s
sf
# SOLD
1
AVG $/SF
AVG SALE PRICE
$1,249 $1,650,000
AVG DOM
116
COMPARED TO 2015 Q1 2
$1,287
$1,650,000
73
25C | $4,295,000 (3BR) $2153/sf
11C | $1,650,000 (2BR) $1249/sf
2C | $999,988 (1BR) $1190/sf
17
501 BEALE
WATERMARK SOLD ACTIVE ACTIVE CONTINGENT PENDING
# SOLD
AVG $/SF
1
$1,153
1
$1,374
AVG SALE PRICE
$875,000
AVG DOM
29
COMPARED TO 2015 Q1 $1,425,000
14
16E | $875,000 (1BR) $1153/sf
4G | $729,000 (1BR) $1113/sf
All Data From SFARMLS
19
SOUTH BEACH & YERBA BUENA CONDOS
SOLD UNITS IN Q1 2016 Address 355 1st 208
BR 0
BA 1
Status Sold
Status Date 3.31.16
333 Main 8E
0
1
Sold
3.31.16
501 Beale 16E
1
1
Sold
3.10.16
333 1st 1702
1
1
Sold
2.4.16
333 1st 1405
1
1
Sold
3.17.16
355 1st 1703
1
1
Sold
3.16.16
425 1st 4905
1
1
Sold
1.4.16
355 1st 1503
1
1
Sold
1.1.16
338 Spear 21C
1
1
Sold
2.23.16
355 1st 1702
2
2
Sold
1.8.16
1 Hawthorne 11C
2
2
Sold
1.19.16
425 1st 3206
2
2
Sold
2.12.16
301 Mission 606
1
2
Sold
3.17.16
301 Main 17B
2
2
Sold
2.24.16
425 1st 1902
2
2
Sold
3.4.16
301 Mission 601
2
2
Sold
1.22.16
301 Mission 33C
3
3.5
Sold
3.31.16
425 1st 6003
3
2
Sold
2.29.16
* Only showing sold units in buildings featured in this book.
21
DOM 17
SF 432
List Price
4
$529,000
Sold Price $555,000
$/SF $1285
568
$749,000
$749,000
$1319
29
759
$799,000
$875,000
$1153
15
713
$875,000
$890,000
$1248
123
709
$899,000
$900,000
$1269
4
795
$990,000
$990,000
$1245
128
710
$1,040,000
$1,007,000
$1418
56
795
$1,150,000
$1,124,500
$1414
0
808
$1,525,000
$1,525,000
$1887
28
1166
$1,548,000
$1,570,000
$1346
116
1321
$1,750,000
$1,650,000
$1249
73
1238
$1,825,000
$1,800,000
$1454
23
1633
$2,199,000
$1,900,000
$1164
9
1317
$2,150,000
$2,050,000
$1557
74
1309
$2,150,000
$2,190,000
$1673
0
1955
$2,759,000
$2,600,000
$1330
163
2170
$3,999,000
$3,500,000
$1613
33
1677
$3,995,000
$3,700,000
$2206
All Data From SFARMLS
SOUTH BEACH & YERBA BUENA CONDOS
NEW CONSTRUCTION
LUMINA SALES DATA # of Units # of Units in Contract # of Closed Units
656 456+ 115+
One Bedroom List Price Average Size Price/SF Current Starting Price
$870,000 - $1,595,000 650 - 1000 SF $975 - $1800 $1,050,000
Two Bedroom List Price Average Size Price/SF Current Starting Price
$1,300,000 - $3,300,000+ 1350 - 1650 SF $960 - $2350+ $1,445,000
Three Bedroom List Price Average Size Price/SF
$3,200,000 - $5,595,000+ 1800 - 2685 SF $1775 - $2100+
23
THE HARRISON (Sales Office Now Open) # of Units # of Floors
One Bedroom Projected Price Average Size Projected Price/SF
298 48 $800,000 - $1,400,000 613 - 1148 SF $860 - $1810
Two Bedroom Projected Price Average Size Projected Price/SF
$1,400,000 - $4,275,000 1083 - 1861 SF $995 - $2600
Three Bedroom Projected Price Average Size Projected Price/SF
$4,700,000 - $4,865,000 1946 - 1988 SF $2400 - $2450
Three Bedroom Penthouses Projected Price Average Size Projected Price/SF
$9,250,000 - $9,600,000 3214 - 3214 SF $2875 - $2990
181 FREMONT (Selling Soon) # of Units # of Floors Projected Starting Price
67 Top 17 Floors $4,000,000
SOUTH BEACH
MARKET SEASONALITY 45 40
# OF SOLD UNITS
35 30 25 20 15 10
JAN ‘13 MAY ‘13 SEP ‘13 JAN ‘14 MAY ‘14 MAR ‘13 JUL ‘13 NOV ‘13 MAR ‘14 JUL
Data is from SFARMLS which does not account for new construction sales such as Lumina. This may be why the typical May spike in sales did not occur in 2015. If you are thinking of selling or buying please contact me for a free personalized market analysis. Paul Hwang | 415.216.8746
25
70
50 40 30 20 10
SEP ‘14 JAN ‘15 MAY ‘15 SEP ‘15 JAN ‘16 NOV ‘14 ‘14 MAR ‘15 JUL ‘15 NOV ‘15
All Data From SFARMLS
AVERAGE DAYS ON MARKET
60
SOUTH BEACH CONDO APPRECIATION
MEDIAN CONDO PRICES $1400000 $1300000
MEDIAN PRICE
$1200000 $1100000 $1000000 $900000 $800000 $700000
Q1 ‘12
Q2 ‘12
Q3 ‘12
Q4 ‘12
Q1 ‘13
Q2 ‘13
Q3 ‘13
Median sales price is the price at which half the sales occurred at higher prices and half for lower. It is a general statistic that is affected by factors other than changes in fair market value, such as seasonal trends and changes in new construction. Paul Hwang | 415.216.8746
Q4
27
‘13
Q1 ‘14
Q2 ‘14
Q3 ‘14
Q4 ‘14
Q1 ‘15
Q2 ‘15
Q3‘15
Q4 ‘15
Q1 ‘16
All Data From SFARMLS
PAUL HWANG
RANKED #1 IN SOUTH BEACH bre 01371169 | 415.216.8746 paul@skyboxrealty.com
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