2020 Q2 Condo Report Mission Bay Paul Hwang | 415.216.8746 | dre 01371169
Oracle Park E N TH CO A BE
Ch in a Ba sin Pa rk
Caltrain BE
R
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5 23 RRY BE
ONE BAY MISSION
5 25 RRY BE
0 30 RRY BE
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BL VD NO RT H M IS SI O N BA Y
LVD IS B
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5 32 RRY BE
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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, The last day of Q2 ended with 33 Active units on MLS in Mission Bay, 6 in contract, and 15 closed units. 10 units either were cancelled or expired. South Beach had similar numbers: 106 actives, 24 in contract, 31 closed, and 59 expired/cancelled. There is also a large shadow inventory of coming soon, on hold and new construction listings. Rents have also softened. The disappointing results may be attributed to a combo of Shelter-in-Place and the citywide curfew orders that occured during the period of civil unrest in the city. A closer examination of the data shows that the few units that sold were mostly at lower price points, with sales at the top end virtually stopped. Inventory has ballooned with few buyers during this period of uncertainty and unrest. The compelling reasons to live in high density urban environments, such as walking to work, restaurants and cultural events, are currently not valid. Looking forward, it is not enough to simply lift the Shelter in Place policies, but rather the general population must feel comfortable returning to restaurants and everyday life. Once this occurs, the real estate market can return to a normalized state. Unfortunately, without a solution or a plan for the virus, this cannot occur. Interest rates are at historical lows and the equity markets are beginning to recover. A more important consideration may be the Fed increasing the money supply by printing trillions of dollars. It is logical to assume the hard assets would appreciate with the increased money supply. Opportunities exist for prudent buyers looking to take advantage of reduced prices and high inventory. While these are all positives, ultimately it will depend on when and how effective of a vaccine is developed. Stay healthy and respect one another. Best Regards, Paul Hwang | 415.216.8746
Š Skybox Realty Inc, 2020
3
Skybox Realty 2020 Q2 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 Q2 Solds
40 - 41
One Mission Bay
42 - 43
Who You Work With Matters
44 - 45
© Skybox Realty Inc, 2020
5
Skybox Realty 2020 Q2 Report
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Mission Bay 2020 Q2 # of Transactions
15
48% YOY /
12% QOQ
Average Sales Price
$1,121,308 20% YOY /
2% QOQ
Average Price per Square Foot
$1,217 .99% YOY /
16% QOQ
Average Days on the Market
47
147% YOY /
16% QOQ
© Skybox Realty Inc, 2020
7
235 Berry
201 | $899,000 (1BR) $1138/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
401 | $1,295,000 (2BR) $1210/sf
© Skybox Realty Inc, 2020
9
235 Berry
# of Transactions
0
100% YOY / ---- QOQ
Average Sales Price
----
100% YOY / ---- QOQ * Median Price $----
Price Per SF
A VG $/ S F
MED I A N $/S F
Q2 Q1 Q4
$1,145/SF
Q3
$1,273/SF $1100
$1200
$1300
$1400
All Data From SFARMLS
235 Berry
Average $/SF
----
Average Days on Market
----
100% YOY / ---- QOQ
Buyer Demographic
2 0 1 9 Q4
© Skybox Realty Inc, 2020
100% YOY / ---- QOQ
CASH
LO A N
UN K N O WN
N o S al e s i n 2020 Q 1
No Sales in 2020 Q 2
2020 Q 1
2020 Q 2
11
255 Berry
519 | $1,529,000 (2BR) $1176/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
701 | $1,595,000 (2BR) $1169/sf
103 | $1,475,000 (2BR) $1114/sf
© Skybox Realty Inc, 2020
13
255 Berry
# of Transactions
1
50% YOY /
100% QOQ
Average Sales Price
$1,595,000 32% YOY /
100% QOQ
* Median Price $1,595,000
Price Per SF Q2
A VG $/ S F
MED I A N $/S F
$1,169/SF
Q1 Q4
$1,118/SF
Q3
$1,199/SF $950
$1050
$1150
$1250
All Data From SFARMLS
255 Berry
Average $/SF
$1,169 4.2% YOY /
Average Days on Market
44
100% QOQ
Buyer Demographic
300% YOY /
CASH
100% QOQ
LO A N
UN K N O WN
N o S al e s i n 2020 Q 1
2 0 1 9 Q4
© Skybox Realty Inc, 2020
2020 Q 1
2020 Q 2
15
Arterra
1512 | $1,340,000 (2BR) $1387/sf
1107 | $950,000 (1BR) $1298/sf 1012 | $9598,000 (1BR) $1234/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
1502 | $950,000 (1BR) $1305/sf
516 | $838,000 (1BR) $1258/sf 413 | $1,178,000 (2BR) $1227/sf
© Skybox Realty Inc, 2020
17
Arterra
# of Transactions
2
100% YOY / ---- QOQ
Average Sales Price
$1,089,000 100% YOY /
8.5% QOQ
* Median Price $1,089,000
Price Per SF Q2
$1,323/SF
Q1
$1,204/SF
Q4
$1,223/SF
Q3
$1,362/SF $950
A VG $/ S F
$1150
MED I A N $/S F
$1350
$1550
All Data From SFARMLS
300 Berry
Average $/SF
$1,323 100% YOY /
Average Days on Market
53
9.9% QOQ
Buyer Demographic
2 0 1 9 Q4
© Skybox Realty Inc, 2020
100% YOY /
CASH
2020 Q 1
104% QOQ
LO A N
UN K N O WN
2020 Q 2
19
Park Terrace
705 | $1,500,000 (2BR) $1151/sf
419 | $1,200,000 (1BR) $1247/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
417 | $900,000 (1BR) $1215/sf
© Skybox Realty Inc, 2020
21
Park Terrace
# of Transactions
Average Sales Price
---- YOY / ---- QOQ
---- YOY /
1
$900,000 12% QOQ
* Median Price $900,000
Price Per SF Q2
$1,215/SF
Q1
$1,206/SF
A VG $/ S F
MED I A N $/S F
Q4 Q3
$1,340/SF $1100
$1200
$1300
$1400
All Data From SFARMLS
325 Berry
Average $/SF
$1,215 8.3% YOY /
.75% QOQ
Buyer Demographic
Average Days on Market
0
---- YOY / ---- QOQ
CASH
LO A N
UN K N O WN
No Sa les in 20 1 9 Q4
2 0 1 9 Q4
© Skybox Realty Inc, 2020
2020 Q 1
2020 Q 2
23
The Beacon
903 | $1,249,000 (2BR) $971/sf 721 | $780,000 (1BR) $1122/sf
703 | $1,299,800 (2BR) $1011/sf
517 | $768,000 (1BR) $1012/sf
511 | $918,888 (1BR) $1059/sf
1504 | $725,000 (0BR) $1235/sf
952 | $2,399,000 (3BR) $979/sf 780 | $1,299,999 (2BR) $1138/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
1311 | $989,000 (1BR) $1139/sf
735 | $1,325,000 (2BR) $1103/sf
733 | $800,000 (1BR) $1099/sf
559 | $1,425,000 (3BR) $1105/sf 451 | $1,198,000 (2BR) $1117/sf
535 | $1,248,000 (2BR) $1015/sf
554 | $700,000 (0BR) $1125/sf 428 | $170,049 (1BR) bmr
© Skybox Realty Inc, 2020
436 | $849,000 (1BR) $1187/sf
25
The Beacon
# of Transactions
6
40% YOY /
25% QOQ
Average Sales Price
$910,800 17% YOY /
6.2% QOQ
* Median Price $800,000
Price Per SF Q2
$1,128/SF
Q1
$1,035/SF
Q4
$1,066/SF
Q3
$1,110/SF $850
A VG $/ S F
$950
MED I A N $/S F
$1050
$1150
All Data From SFARMLS
250 / 260 King
Average $/SF
$1,128 4.4% YOY /
Average Days on Market
37
9% QOQ
Buyer Demographic
2 0 1 9 Q4
© Skybox Realty Inc, 2020
164% YOY /
CASH
2020 Q 1
46% QOQ
LO A N
UN K N O WN
2020 Q 2
27
Madrone
917 | $1,498,000 (1BR) $1254/sf
603 | $1,130,000 (1BR) $1222/sf 521 | $1,598,000(2BR) $1269/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
1105 | $3,225,000 (3BR) $1679/sf
715 | $1,095,000 (1BR) $1498/sf 547 | $1,999,999 (2BR) $1187/sf
© Skybox Realty Inc, 2020
29
Madrone
# 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
Q2 Q1
$1,433/SF
Q4
$1,218/SF
Q3 $1150
$1250
$1350
$1450
All Data From SFARMLS
420 / 480 Mission Bay, 435 China Basin
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 2
2 0 1 9 Q4
© Skybox Realty Inc, 2020
2020 Q 1
2020 Q 2
31
Radiance
604 | $2,888,000 (2BR) $1841/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
110 | $2,000,000 (2BR) $1066/sf
© Skybox Realty Inc, 2020
33
Radiance
# of Transactions
1
100% YOY / ---- QOQ
Average Sales Price
$2,000,000 100% YOY /
103% QOQ
* Median Price $2,000,000
Price Per SF Q2
$1,066/SF
Q1
$1,271/SF
Q4
$1,115/SF
Q3
$1,051/SF $1,582/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
$1,066 100% YOY /
Average Days on Market
61
16% QOQ
Buyer Demographic
2 0 1 9 Q4
© Skybox Realty Inc, 2020
100% YOY /
CASH
2020 Q 1
26% QOQ
LO A N
UN K N O WN
2020 Q 2
35
Arden
1507 | $2,398,000 (3BR) $1532/sf 1401 | $1,795,000 (2BR) $1474/sf
506 | $1,698,000 (2BR) $1245/sf
206 | $2,100,000 (3BR) $1119/sf
All Data From SFARMLS
OFF MAR KET
SO L D
ACTI V E
IN CONTRACT
1405 | $2,499,000 (2BR) $1607/sf
1108 | $1,749,999 (2BR) $1446/sf 913 | $1,899,000 (2BR) $1304/sf 703 | $2,830,000 (3BR) $1569/sf
216 | $1,695,000 (2BR) $1232/sf 114 | $1,455,000 (2BR) $1131/sf
© Skybox Realty Inc, 2020
37
Arden
# of Transactions
1
50% YOY /
50% QOQ
Average Sales Price
$1,445,000 30% YOY /
22% QOQ
* Median Price $1,445,000
Price Per SF Q2
$1,131/SF
Q1
$1,348/SF
Q4
$1,385/SF
Q3
$1,390 $1100
A VG $/ S F
$1200
MED I A N $/S F
$1300
$1400
All Data From SFARMLS
708 / 718 / 738 Long Bridge
Average $/SF
$1,131 24% YOY /
Average Days on Market
53
16% QOQ
Buyer Demographic
2 0 1 9 Q4
© Skybox Realty Inc, 2020
66% YOY /
CASH
2020 Q 1
179% QOQ
LO A N
UN K N O WN
2020 Q 2
39
Skybox Realty 2020 Q2 Report
2020 Q2 Sales Address
BR / BA
SQFT
250 King 428
1/1
----
250 King 554
0/1
622
260 King 721
1/1
695
260 KIng 733
1/1
728
300 Berry 516
1/1
666
250 King 436
1/1
715
325 Berry 417
1/1
741
300 Berry 1512
2/2
966
260 King 559
3/2
1290
718 Long Bridge 114
2/2
1286
255 Berry 701
2/2
1365
325 China Basin 110
2 / 2.5
1876
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
$170,049 bmr
----
100.00
$700,000
$1,125.40
100.14
$780,000
$1,122.30
111.59
$800,000
$1,098.90
100.63
$838,000
$1,258.26
98.82
$849,000
$1,187.41
100.00
$900,000
$1,214.57
100.00
$1,340,000
$1,387.16
99.33
$1,425,000
$1,104.65
102.15
$1,455,000
$1,131.42
93.87
$1,595,000
$1,168.50
100.00
$2,000,000
$1,066.10
88.93
© Skybox Realty Inc, 2020
41
Skybox Realty 2020 Q2 Report
One Mission Bay Developer
CIM
# of Units
# in C
350
34
* 1305 | $1,795,000 (2BR) $1474/sf 1307 | $2,150,000 (3BR) $1312/sf 1102 | $3,150,000 (3BR) $1724/sf
* 813 | $1,260,000 (2BR) $1255/sf
* 530 | $820,000 (1BR) $1524/sf
* 219 | $1,075,000 (1BR) $1280/sf * 206 | $2,079,000 (2BR) $1400/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 | $1,725,000 (2BR) $1361/sf 1202 | $3,635,000 (3BR) $1990/sf
902 | $2,068,880 (2BR) $1569/sf 821 | $1,620,000 (2BR) $1381/sf
* *
614 | $1,518,000 (2BR) $1267/sf
*
303 | $1,888,000 (2BR) $1530/sf 203 | $979,000 (1BR) $1435/sf 102 | $1,098,000 (1BR) $1312/sf
* *
* = Resale Units © Skybox Realty Inc, 2020
43
Skybox Realty 2020 Q2 Report
Paul Hwang
South Beach Average Sales Price 2019
2018
2017
$900K
Paul Hwang (+23%) Other Brokers Paul Hwang Other Brokers Paul Hwang Others
$1.1M
$1.3M
$1.5M
$1.7M
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
*
Call me to find out how we can feature your off market listing to all of our prospective buyers in our 2020 Quarterly Reports!
South Beach Average Price per Square Foot Paul Hwang (+16%)
2019
Other Brokers Paul Hwang
2018
Other Brokers Paul Hwang
2017
$700
Other Brokers
$900
Š Skybox Realty Inc, 2020
$1100
$1300
$1500
45
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Paul Hwang Ranked #1 in South Beach 415.216.8746 | dre 01371169 paul@skyboxrealty.com
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