2022 / Mission Bay Annual Condo Report

Hello Neighbors!

Happy 2023! Last year was a transitional year in real estate for many seeing a decline in buyer demand, the San Francisco condo market And unfortunately, prices in the city will likely continue to trend downwards

The option for remote work caused a big exodus in San Francisco rates, ongoing tech layoffs, and volatile stock market, the demand graph below, the Mission Bay condo market is the lowest we’ve seen $1,200,000, and currently the lowest median sales price is $1,129,999.

$1.7M 2019 2020

$1.1M

What I’m seeing:

Sellers: There are motivated sellers, but many homeowners who locked They may move out of their home, but they’re leaning towards renting spiking up, resulting in home prices not dropping dramatically.

Buyers: Bold investors looking for opportunities who are coming across buying condos priced lower than 2018 prices! However, although there more comfortable watching from the sidelines versus buying given

With the combination of cautious buyers and more owners holding price drop won’t be drastic. My prediction is that 2023 will be a balanced

If you’d like to have a deeper conversation about what selling or buying discuss more.

Your Mission Bay Specialist, Vi Pavlicevich

$1.5M Skybox Realty 2022 Annual Report All Data From SFARMLS

many cities across the nation. While the suburban market start ed market had already been cooling down since the start of the pandemic. downwards alongside its suburban neighbors.

the last two years. Now with the addition of higher mortgage for housing in San Francisco has waned further. If you look at the seen in the last 3 years. The lowest median sales price in 2021 w as $1,129,999. That’s a ~6% drop.

locked in at a sub-4% rate are carefully weighing their options. renting versus selling; this will prevent housing inventory from

across eager sellers are getting phenomenal deals. Some are there may be more buyer negotiation power, many buyers feel given the market uncertainty on the national level.

holding onto their homes, we will likely see a dip in home prices, but the balanced market, neither friendly to buyers or sellers.

buying could look like in this quickly-changing market, call me to

Table of Contents

Mission Bay 2022 Snapshot

235 Berry 255 Berry Arterra Park Terrace The Beacon Madrone Radiance Arden

One Mission Bay 2022 Q4 Solds Who You Work With Matters

7 8 - 11 12 - 15 16 - 19 20 - 23 24 - 27 28 - 31 32 - 35 36 - 39 40 - 43 44 - 45 46 - 47

2022 Q4 Sales

Address

250 King 854 250 King 1304 250 King 948 260 King 437 260 King 907 325 Berry 614 300 Berry 822 708 Long Bridge 106 1000 3rd 515 260 King 903 260 King 435 480 Mission Bay 615 255 Berry 506 235 Berry 515 255 Berry 515 110 Channel 403 718 Long Bridge 1404 255 Berry 708

* Only showing sold homes in buildings featured in this book. Does not include new construction.

Sale Price

$/SF

$516,680 $520,000 $700,000 $700,000 $730,000 $800,000 $875,000 $989,000 $1,012,500 $1,115,000 $1,122,000 $1,200,000 $1,300,000 $1,310,000 $1,425,000 $1,650,000 $2,185,000 $3,100,000

$830.68 $885.86 $877.19 $853.66 $796.94 $1,043.02 $1,010.39 $1,165.85 $1,053.59 $867.03 $912.20 $1,099.91 $1,005.41 $1,053.05 $1,165.17 $1,297.17 $1,483.37 $1,273.10

% Sale/List 90.65 94.72 100.00 100.14 98.78 96.62 94.19 100.00 98.78 97.04 99.38 120.60 96.65 98.87 109.70 100.00 100.46 103.51