2020 Q2 / Mission Bay Condo Report

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

ST

RY

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

G

DIANCE MADRONE RA

ST

AY BR ID GE VI EW W

N

ID

E

3R D ST

EN

D

AR

LO

G

BR

N

FRA RY A

CH

ST

EL

TER

I

O

EE

4T H ST

5 32 RRY BE

M

I SS

CR

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

Contact us or click here to subscribe to our digital monthly market updates and quarterly reports.

Paul Hwang Ranked #1 in South Beach 415.216.8746 | dre 01371169 paul@skyboxrealty.com

流利國語