2020 Q1 Condo Report Mission Bay Paul Hwang | Ranked #1 in South Beach
Oracle Park E N TH CO A BE
Ch in a Ba sin Pa rk
Caltrain BE
R
ST
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5 23 RRY BE
ONE BAY MISSION
5 25 RRY BE
0 30 RRY BE
N
K
AN
BL VD NO RT H M IS SI O N BA Y
LVD IS B
ST CH IN A BA SI N
NCO
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DIANCE MADRONE RA
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AY BR ID GE VI EW W
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3R D ST
EN
D
AR
LO
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BR
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FRA RY A
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ST
EL
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4T H ST
5 32 RRY BE
M
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MISSION BAY SO UT H ST O W EN S ST
UCSF Mission Bay
The Chase Center
I 280
16 TH ST
TE NN ES S
M ISS ISS IP PI ST
M ar ip os a Pa rk M AR IP O SA ST
ILL IN OI S ST
UCSF Medical Center
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Dear Neighbors, Wow, what a start to 2020. We hope that you and your families are staying safe amidst this new reality. Shelter-in-Place (SIP) has created a disfavorable environment for leasing & selling properties, causing many owners to defer sales to a later date (3 units were put on hold/withdrawn since March 16). 13 homes remain active with just 2 going into contract since SIP in Mission Bay. Before the onslaught of Covid-19 in the Bay Area, the 2020 Mission Bay condo market was off to a slower start with just 17 units sold in Q1, a decrease of 43% quarter-over-quarter. YOY / QOQ stats remained relatively flat for avg sold price, but avg sold $/SF increased. Days on the market were up 37% YOY & QOQ. Although unique, this period is not dissimilar to the great recession or dot com bubble in terms of equities, real estate & general sentiments. During these periods, variance in equities was much more chaotic than real estate performance, with real estate lagging by 6 months with 20-25% corrections from peaks. I tell you this not by looking at charts, but by living through it as an active investor in the real estate market. Population & income are essential for real estate. While a rapid loss of employment does not bode well for the economy and subsequently real estate, a key difference in this crisis is that the Federal Reserve has acted extremely quickly, lowering interest rates while Congress injected $2+ Trillion into the economy with the CARES Act. Unlike other areas of the country, a large portion of our tech savvy workforce is working remotely rather than being furloughed. The early use of SIP in San Francisco seems to have “flattened the curve,” as the rate of new Coronavirus cases is much less than densely populated NYC. Economic (& real estate activity) will be highly correlated to the recovery from the current pandemic. We are here to support you and your real estate needs with virtual tours and showings for our non occupied listings and rentals. If you would like an experienced personalized analysis of your real estate situation, please give me a call. Wishing you good health and kindness, Paul Hwang | Ranked #1 in South Beach | 415.216.8746
© Skybox Realty Inc, 2020
3
Skybox Realty 2020 Q1 Report
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Table of Contents 235 Berry
8 - 11
255 Berry
12 - 15
Arterra
16 - 19
Park Terrace
20 - 23
The Beacon
24 - 27
Madrone
28 - 31
Radiance
32 - 35
Arden
36 - 39
2020 Q1 Solds
40 - 41
One Mission Bay
42 - 43
Who You Work With Matters
44 - 45
© Skybox Realty Inc, 2020
5
Skybox Realty 2020 Q1 Report
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Mission Bay 2020 Q1 # of Transactions
17
6.3% YOY /
43% QOQ
Average Sales Price
$1,144,136 6.1% YOY /
19% QOQ
Average Price per Square Foot
$1,447 31% YOY /
22% QOQ
Average Days on the Market
56
37% YOY /
37% QOQ
© Skybox Realty Inc, 2020
7
235 Berry
All Data From SFARMLS
OFF MAR KET
SO L D
© Skybox Realty Inc, 2020
ACTI V E
IN CONTRACT
9
235 Berry
# of Transactions
0
100% YOY /
100% QOQ
Average Sales Price
----
100% YOY /
100% QOQ
* Median Price $----
Price Per SF
A VG $/ S F
MED I A N $/S F
Q1 Q4
$1,145/SF
Q3
$1,273/SF
Q2
$1,275/SF $1100
$1200
$1300
$1400
All Data From SFARMLS
235 Berry
Average $/SF
----
100% YOY /
Average Days on Market
----
100% QOQ
Buyer Demographic
100% YOY /
CASH
100% QOQ
LO A N
UN K N O WN
No Sales in 2020 Q 1
2 0 1 9 Q3
© Skybox Realty Inc, 2020
2019 Q 4
2020 Q 1
11
255 Berry
All Data From SFARMLS
OFF MAR KET
SO L D
© Skybox Realty Inc, 2020
ACTI V E
IN CONTRACT
13
255 Berry
# of Transactions
0
---- YOY /
100% QOQ
Average Sales Price
----
21% YOY /
100% QOQ
* Median Price $----
Price Per SF
A VG $/ S F
MED I A N $/S F
Q1 Q4
$1,118/SF
Q3
$1,199/SF
Q2
$1,219/SF $950
$1050
$1150
$1250
All Data From SFARMLS
255 Berry
Average $/SF
----
.01% YOY /
Average Days on Market
----
100% QOQ
Buyer Demographic
115% YOY /
CASH
100% QOQ
LO A N
UN K N O WN
No Sales in 2020 Q 1
2 0 1 9 Q3
© Skybox Realty Inc, 2020
2019 Q 4
2020 Q 1
15
Arterra
1512 | $1,349,000 (2BR) $1396/sf
617 | $910,000 (1BR) $1182/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
516 | $848,000 (1BR) $1273/sf 448 | $1,470,000 (2BR) $1226/sf
© Skybox Realty Inc, 2020
17
Arterra
# of Transactions
2
100% YOY /
50% QOQ
Average Sales Price
$1,190,000 31% YOY /
6.1% QOQ
* Median Price $1,190,000
Price Per SF Q1
$1,204/SF
Q4
$1,223/SF
Q3
$1,362/SF
A VG $/ S F
MED I A N $/S F
Q2 $950
$1150
$1350
$1550
All Data From SFARMLS
300 Berry
Average $/SF
$1,204 21% YOY /
Average Days on Market
26
1.6% QOQ
Buyer Demographic
2 0 1 9 Q3
© Skybox Realty Inc, 2020
100% YOY /
CASH
2019 Q 4
54% QOQ
LO A N
UN K N O WN
2020 Q 1
19
Park Terrace
712 | $1,020,000 (1BR) $1206/sf
All Data From SFARMLS
OFF MAR KET
SO L D
© Skybox Realty Inc, 2020
ACTI V E
IN CONTRACT
21
Park Terrace
# of Transactions
1
100% YOY /
100% QOQ
Average Sales Price
$1,020,000 100% YOY /
100% QOQ
* Median Price $1,020,000
Price Per SF Q1
A VG $/ S F
MED I A N $/S F
$1,206/SF
Q4 Q3
$1,340/SF
Q2
$1,325/SF $1100
$1200
$1300
$1400
All Data From SFARMLS
325 Berry
Average $/SF
$1,206 100% YOY /
100% QOQ
Buyer Demographic
Average Days on Market
0
---- YOY / ---- QOQ
CASH
LO A N
UN K N O WN
N o S al e s i n 2019 Q 4
2 0 1 9 Q3
© Skybox Realty Inc, 2020
2019 Q 4
2020 Q 1
23
The Beacon
721 | $699,000 (1BR) $1006/sf
781 | $805,000 (1BR) $1115/sf
1308 | $928,000 (1BR) $1179/sf
850 | $750,000 (1BR) $941/sf 626 | $1,400,000 (2BR) $971/sf
672 | $1,200,000 (2BR) $1049/sf 414 | $978,000 (1BR) $1017/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
1603 | $1,595,000 (2BR) $1240/sf
717 | $760,000 (1BR) $1001/sf
713 | $182,818 (1BR) bmr
559 | $1,395,000 (3BR) $1081/sf
535 | $1,295,000 (2BR) $1053/sf
554 | $699,000 (0BR) $1124/sf 428 | $170,049 (1BR) bmr
© Skybox Realty Inc, 2020
406 | $1,063,000 (1BR) $1082/sf
25
The Beacon
# of Transactions
8
27% YOY /
20% QOQ
Average Sales Price
$970,786 .64% YOY /
17% QOQ
* Median Price $928,000
Price Per SF Q1
$1,035/SF
Q4
$1,066/SF
Q3
$1,110/SF
Q2
$1,080/SF $850
A VG $/ S F
$950
MED I A N $/S F
$1050
$1150
All Data From SFARMLS
250 / 260 King
Average $/SF
$1,035 4.3% YOY /
Average Days on Market
68
3% QOQ
Buyer Demographic
2 0 1 9 Q3
© Skybox Realty Inc, 2020
100% YOY /
CASH
2019 Q 4
84% QOQ
LO A N
UN K N O WN
2020 Q 1
27
Madrone
705 | $1,635,000 (2BR) $1433/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
715 | $1,188,000 (1BR) $1625/sf
© Skybox Realty Inc, 2020
29
Madrone
# of Transactions
1
---- YOY /
80% QOQ
Average Sales Price
$1,635,000 13% YOY /
27% QOQ
* Median Price $1,635,000
Price Per SF Q1
$1,433/SF
Q4
$1,218/SF
A VG $/ S F
MED I A N $/S F
Q3 Q2
$1,164/SF $1150
$1250
$1350
$1450
All Data From SFARMLS
420 / 480 Mission Bay, 435 China Basin
Average $/SF
$1,433 20% YOY /
Average Days on Market
39
18% QOQ
Buyer Demographic
78% YOY /
CASH
11% QOQ
LO A N
UN K N O WN
N o Sa les in 2 0 1 9 Q3
2 0 1 9 Q3
© Skybox Realty Inc, 2020
2019 Q 4
2020 Q 1
31
Radiance
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
802 | $2,298,000 (2BR) $1419/sf
416 | $1,895,000 (3BR) $1052/sf 307 | $985,000 (1BR) $1271/sf 110 | $2,249,000 (2BR) $1198/sf
© Skybox Realty Inc, 2020
33
Radiance
# of Transactions
1
100% YOY /
50% QOQ
Average Sales Price
$985,000 100% YOY /
15% QOQ
* Median Price $985,000
Price Per SF Q1
$1,271/SF
Q4
$1,115/SF
Q3
$1,582/SF
Q2
$1,051/SF $1000
A VG $/ S F
$1200
MED I A N $/S F
$1400
$1600
All Data From SFARMLS
330 Mission Bay, 325 China Basin
Average $/SF
$1,271 100% YOY /
Average Days on Market
82
14% QOQ
Buyer Demographic
2 0 1 9 Q3
© Skybox Realty Inc, 2020
100% YOY /
CASH
2019 Q 4
183% QOQ
LO A N
UN K N O WN
2020 Q 1
35
Arden
1010 | $2,000,000 (2BR) $1377/sf
613 | $1,690,000 (2BR) $1319/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
1108 | $1,749,999 (2BR) $1446/sf
114 | $1,550,000 (2BR) $1205/sf
© Skybox Realty Inc, 2020
37
Arden
# of Transactions
2
100% YOY /
50% QOQ
Average Sales Price
$1,845,000 18% YOY /
3.7% QOQ
* Median Price $1,845,000
Price Per SF Q1
$1,348/SF
Q4
$1,385/SF
Q3
$1,390
Q2
$1,480/SF $1250
A VG $/ S F
$1350
MED I A N $/S F
$1450
$1550
All Data From SFARMLS
708 / 718 / 738 Long Bridge
Average $/SF
$1,348 13% YOY /
Average Days on Market
19
2.7% QOQ
Buyer Demographic
2 0 1 9 Q3
© Skybox Realty Inc, 2020
65% YOY /
CASH
2019 Q 4
25% QOQ
LO A N
UN K N O WN
2020 Q 1
39
Skybox Realty 2020 Q1 Report
2020 Q1 Sales Address
BR / BA
SQFT
260 King 713
1/1
814
250 King 850
1/1
797
260 King 717
1/1
759
260 King 781
1/1
722
300 Berry 617
1/1
770
250 King 1308
1/1
787
250 King 414
1/1
962
325 China Basin 307
1/1
775
325 Berry 712
1/1
846
110 Channel 414
1/1
759
250 King 672
2/2
1144
250 King 626
2/2
1442
300 Berry 448
2/2
1199
110 Channel 207
2/2
1079
420 Mission Bay 705
2/2
1141
708 Long Bridge 613
2/2
1281
708 Long Bridge 1010
2/2
1452
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
* Only showing sold homes in buildings featured in this book. Does not include new construction.
Sale Price
$/SF
% Sale/List
$182,818 bmr
$224.59 bmr
100.00
$750,000
$941.03
100.00
$760,000
$1,001.32
98.83
$805,000
$1,114.96
100.75
$910,000
$1,181.82
107.18
$928,000
$1,179.16
100.00
$952,500
$990.12
100.47
$985,000
$1,270.97
109.57
$1,020,000
$1,205.67
98.55
$1,147,000
$1,511.20
98.20
$1,200,000
$1,048.95
95.24
$1,400,000
$970.87
98.59
$1,470,000
$1,226.02
99.39
$1,615,000
$1,496.76
101.25
$1,635,000
$1,432.95
97.61
$1,690,000
$1,319.28
100.12
$2,000,000
$1,377.41
100.00
© Skybox Realty Inc, 2020
41
Skybox Realty 2020 Q1 Report
One Mission Bay Developer
CIM
# of Units
# in C
350
34
1307 | $2,300,000 (3BR) $1403/sf 1102 | $3,475,000 (3BR) $1902/sf 912 | $1,680,000 (2BR) $1317/sf * 813 | $1,425,000 (2BR) $1419/sf
* 513 | $1,395,000 (2BR) $----/sf
* 207 | $1,615,000 (2BR) $1497/sf
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
OFF MAR KET
Contract / Sold
43+
SO L D
ACTI V E
IN CONTRACT
Monthly Absorption
7.6 Units 1306 | $1,825,000 (2BR) $1440/sf
902 | $2,068,880 (2BR) $1569/sf
514 | $1,515,000 (2BR) $1265/sf 414 | $1,147,000 (1BR) $1511/sf 303 | $1,888,000 (2BR) $1530/sf 203 | $1,039,000 (1BR) $1523/sf
* = Resale Units © Skybox Realty Inc, 2020
43
*
* *
Skybox Realty 2020 Q1 Report
Paul Hwang
Mission Bay Average Sales Price Skybox Realty (+26%)
2019
Other Brokers Skybox Realty
2018
Other Brokers
2017
Skybox Realty Others
$1M
$1.2M
$1.4M
$1.6M
$1.8M
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
“
Paul doesn’t just know the market, he is the market. - Isaac S
“
Mission Bay Average Price per Square Foot Skybox Realty (+7%)
2019
Other Brokers Skybox Realty
2018
Other Brokers Skybox Realty
2017
Other Brokers
$900
$1000
© Skybox Realty Inc, 2020
$1100
$1200
$1300
45
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Paul Hwang Ranked #1 in South Beach 415.216.8746 | dre 01371169 paul@skyboxrealty.com
流利國語