Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Mission Bay
Condo Report 2023
Paul Hwang | Ranked #1 Broker 415.216.8746 | paul@skyboxrealty.com
© Skybox Realty Inc, 2024
1
Skybox Realty 2023 Annual Report
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Hello Neighbors! Mission Bay condo sales experienced a dramatic 42% decline in transactions for 2023, with a mere 69 homes trading. Lack of buyers resulted in a 12% dip in the average price per square foot to $970/sf. Arden averaged a respectable $1,221/sf, but only had 8 sales for the entire year. One Mission Bay dropped a staggering 74% in units sold! This was due to a confluence of negative factors; Tech / Finance layoffs, a 30%+ office vacancy rate, an almost tripling of mortgage rates to 7.5%+, retail exodus, and negative local / national press. That being said I do not think UCSF, the Giants or the Warriors are going out of business any time soon. UCSF is still a magnet for smaller companies with good income jobs. With the elections in 2024 I expect positive sales activity with interest rates to decline and equities to be up, although prices will probably remain flat. Mission Bay has always been a great place to raise a family as it is well suited for all ages with Mission Creek Park , Mission Bay Kids Park and the Channel Street Dog Park. Rents have held up well in Mission Bay, but may decline slightly in 2024. I would like to continue to publish these reports. If they offer any value to you, please send us a referral. We look forward to providing you with personalized service for your real estate needs. Best Regards, Paul Hwang, Ranked #1 Broker | 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.
© Skybox Realty Inc, 2024
3
Skybox Realty 2023 Annual Report
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
Table of Contents
Mission Bay 2023 Snapshot
7
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
One Mission Bay
40 - 43
2023 Q4 Solds
44 - 45
Who You Work With Matters
46 - 47
© Skybox Realty Inc, 2024
5
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
LVD
BL VD NO RT H
IS B
M IS SI O N BA Y
ST
NCO
CH IN A BA SI N
FRA
G
DIANCE
MADRONE RA
ST
BR ID GE VI EW W
N
ID
E
3R D ST
EN
D
AR
LO
G
BR
N
RY A
CH
ST
EL
TER
I
O
EE
4T H ST
5 32 RRY BE
M
I SS
CR
AY
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
Mission Bay 2023 Snapshot * Does not include new construction.
# of Transactions
69
42% YOY Average Sales Price
$1,033,348 13% YOY
* Median Price $941,500
Average Price per Square Foot
$970 12% YOY
Average Days on the Market
67
14% YOY
© Skybox Realty Inc, 2024
7
235 Berry
307 | $1,345,000 (2BR) $1089/sf
All Data From SFARMLS
OFF MAR KET
SOL D
© Skybox Realty Inc, 2024
ACTI V E
IN CONTRACT
9
235 Berry
Price Per SF
A VG $/ S F
MED I A N $/S F
Q4 Q3
N O S A L E S I N 2023
Q2 Q1 $900
$1000
$1 100
$1200
Buyer Demographic
NO SALES I N 2023
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
0
100% YOY
Average DOM
---100% YOY
Average $/SF
$---100% YOY
Average Sales Price
$---100% YOY
2023 $/SF Distribution
* Median Price $----
S T A N D ARD D EV I A TI O N = $----
N O S A L E S I N 2023
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
11
255 Berry
112 | $1,300,000 (2BR) $1052/sf
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
604 | $1,375,000 (2BR) $944/sf
© Skybox Realty Inc, 2024
13
255 Berry
Price Per SF
A VG $/ S F
MED I A N $/S F
Q4 Q3 Q2
$1,052/SF
Q1
$944/SF $900
$1000
$1 100
$1200
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
2
75% YOY
Average DOM
185 340% YOY
Average $/SF
$998 13% YOY
Average Sales Price
$1,337,500 27% YOY
2023 $/SF Distribution
$ 7 7 0 / SF
* Median Price $1,337,500
S TA N D A R D D EV I A TI O N = $75.95
$998/SF
$1226/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
15
Arterra
1411 | $1,168,000 (2BR) $1253/sf 1207 | $785,400 (1BR) $1073/sf
711 | $1,042,000 (2BR) $1039/sf 515 | $748,000 (1BR) $1025/sf 519 | $785,000 (1BR) $1075/sf 408 | $1,239,000 (2BR) $1206/sf
518 | $680,000 (
All Data From SFARMLS
OFF MAR KET
(1BR) $1035/sf
SOL D
ACTI V E
IN CONTRACT
814 | $700,000 (1BR) $1054/sf 618 | $727,000 (1BR) $1106/sf 622 | $850,000 (1BR) $982/sf 501 | $1,125,000 (2BR) $982/sf 445 | $1,180,000 (2BR) $951/sf
© Skybox Realty Inc, 2024
17
Arterra
Price Per SF Q4
$1,020
Q3
$1,037/SF
A VG $/ S F
MED I A N $/S F
Q2 Q1
$1,123/SF $1000
$1100
$1 200
$1300
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
8
37% YOY
Average DOM
36 28% YOY
Average $/SF
$1,052 11% YOY
Average Sales Price
$907,675 7.6% YOY
2023 $/SF Distribution
$ 8 2 4 / SF
* Median Price $817,700
S TA N D A R D D EV I A TI O N = $76.06
$1052/SF
$1280/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
19
Park Terrace
322 | $763,000 (1BR) $950/sf
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
320 | $1,430,000 (2BR) $1104/sf
© Skybox Realty Inc, 2024
21
Park Terrace
Price Per SF
A VG $/ S F
MED I A N $/S F
Q4 Q3
$950/SF
Q2
$1,104/SF
Q1 $900
$1000
$1 100
$1200
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
2
33% YOY
Average DOM
71
154% YOY
Average $/SF
$1,027 3.8% YOY
Average Sales Price
$1,096,500 3.8% YOY
2023 $/SF Distribution
$ 7 0 0 / SF
* Median Price $1,096,500
S T A N D A R D D EV I A TI O N = $108.94
$1027/SF
$1354/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
23
The Beacon
953 | $579,000 (1BR) $----/sf 761 | $525,000 (0BR) $850/sf
423 | $895,000 (2BR) $965/sf 421 | $680,000 (1BR) $978/sf
551 | $941,500 (2BR) $853/sf 443 | $689,000 (1BR) $1001/sf 409 | $740,000 (1BR) $899/sf
3
1418 | $1,162,500 (2BR) $962/sf
872 | $920,000 (2BR) $804/sf 722 | $980,000 (2BR) $870/sf 618 | $900,000 (2BR) $752/sf
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
1601 | $895,000 (1BR) $1076/sf 1501 | $895,000 (1BR) $1076/sf 1403 | $1,295,000 (2BR) $1007/sf 1319 | $915,000 (2BR) $829/sf 1211 | $725,000 (1BR) $791/sf 1009 | $829,000 (1BR) $1007/sf
881 | $585,000 (1BR) $880/sf 759 | $1,185,000 (3BR) $919/sf 647 | $599,000 (1BR) $869/sf 553 | $525,000 (1BR) $944/sf 451 | $940,000 (2BR) $876/sf 365 | $950,000 (2BR) $800/sf
581 | $590,000 (1BR) $887/sf 429 | $599,000 (1BR) $998/sf
575 | $675,000 (1BR) $743/sf 473 | $925,000 (2BR) $937/sf
1410 | $750,000 (1BR) $912/sf 1300 | $1,100,088 (2BR) $903/sf
812 | $719,888 (1BR) $811/sf 704 | $530,000 (1BR) $903/sf 628 | $707,500 (1BR) $817/sf 366 | $1,050,000 (2BR) $887/sf 264 | $520,000 (1BR) $874/sf
© Skybox Realty Inc, 2024
25
The Beacon
Price Per SF Q4
$842/SF
Q3
$876/SF
Q2
$897/SF
Q1
$871/SF $700
A VG $/ S F
$800
MED I A N $/S F
$9 00
$1000
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
24 43% YOY
Average DOM
80 21% YOY
Average $/SF
$883 5% YOY
Average Sales Price
$797,895 11% YOY
2023 $/SF Distribution
$ 6 4 8 / SF
* Median Price $732,500
S TA N D A R D D EV I A TI O N = $78.24
$883/SF
$1118/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
27
Madrone
621 | $1,170,000 (1BR) $1060/sf 514 | $1,650,000 (2BR) $1193/sf 425 | $1,120,000 (1BR) $1017/sf 316 | 950,000 (1BR) $1046/sf 205 | $1,310,000 (2BR) $1105/sf
547 | $1,795,000 (2BR 440 | $1,099,000 (2BR
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
611 | $1,695,000 (2BR) $1428/sf 513 | $1,500,000 (2BR) $1241/sf 403 | $1,250,000 (1BR) $1181/sf 332 | 1,530,000 (2BR) $1238/sf 216 | $920,000 (1BR) $1044/sf
R) $1065/sf R) $978/sf
© Skybox Realty Inc, 2024
29
Madrone
Price Per SF
A VG $/ S F
MED I A N $/S F
Q4 Q3 Q2
$1,112/SF
Q1
$1,136/SF $1000
$1100
$1 200
$1300
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
9
31% YOY
Average DOM
84 83% YOY
Average $/SF
$1,125 9.8% YOY
Average Sales Price
$1,266,667 18% YOY
2023 $/SF Distribution
$ 8 5 9 / SF
* Median Price $1,250,000
S TA N D A R D D EV I A TI O N = $88.67
$1125/SF
$1391/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
31
Radiance
515 | $1,300,000 (2BR) $1004/sf
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
902 | $1,610,000 (2BR) $1019/sf
302 | $1,299,000 (2BR) $998/sf
© Skybox Realty Inc, 2024
33
Radiance
Price Per SF Q4
A VG $/ S F
MED I A N $/S F
$1,004/SF
Q3 Q2
$1,009/SF
Q1 $900
$1000
$1 100
$1200
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
3
---- YOY
Average $/SF
$1,007 11% YOY
Average DOM
68
467% YOY
Average Sales Price
$1,403,000 15% YOY
2023 $/SF Distribution
$ 9 7 5 / SF
* Median Price $1,300,000
S TA N D A R D D EV I A TI O N = $10.64
$1007/SF
$1039/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
35
Arden
900 | $1,849,000 (2BR) $1394/sf 915 | $1,908,000 (2BR) $1476/sf
508 | $1,550,000 (2BR) $1300/sf 306 | $1,698,000 (2BR) $1192/sf 311 | $1,821,000 (2BR) $1205/sf 201 | $1,350,000 (2BR) $1047/sf
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
909 | $1,620,000 (2BR) $1328/sf 804 | $1,900,000 (2BR) $1324/sf 604 | $2,568,000 (2BR) $1322/sf 415 | $1,700,000 (2BR) $1230/sf
108 | $1,388,000 (2BR) $967/sf
© Skybox Realty Inc, 2024
37
Arden
Price Per SF Q4
$969/SF
Q3
$1,284/SF
Q2
$1,156/SF
Q1
$1,476/SF $900
A VG $/ S F
$1100
MED I A N $/S F
$1 300
$1500
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
8
33% YOY
Average DOM
45 18% YOY
Average $/SF
$1,221 5.3% YOY
Average Sales Price
$1,791,625 17% YOY
2023 $/SF Distribution
$ 7 3 9 / SF
* Median Price $1,760,500
S T A N D A R D D EV I A TI O N = $160.63
$1221/SF
$1703/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
39
One Mission Bay Resales
1401 | $2,920,000 (3BR) $1478/sf
619 | $1,400,000 (2BR) $1196/sf 616 | $600,000 (1BR) $1181/sf
All Data From SFARMLS
OFF MAR KET
SOL D
ACTI V E
IN CONTRACT
1406 | $1,378,000 (2BR) $1088/sf 1206 | $1,482,000 (2BR) $1170/sf
615 | $1,035,000 (1BR) $1077/sf
318 | $975,000 (1BR) $1271/sf
© Skybox Realty Inc, 2024
41
One Mission Bay
Price Per SF Q4
$1,181/SF
Q3
$1,196/SF
Q2
$1,271/SF
Q1
$1,123/SF $1000
A VG $/ S F
$1100
MED I A N $/S F
$1 200
$1300
Buyer Demographic
CA S H B UYER LO A N B UYER UN K N O WN
2022
2023
All Data From SFARMLS
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
# of Transactions
5
74% YOY
Average DOM
79 98% YOY
Average $/SF
$1,179 7.2% YOY
Average Sales Price
$1,098,400 14% YOY
2023 $/SF Distribution
$ 9 7 1 / SF
* Median Price $1,035,000
S TA N D A R D D EV I A TI O N = $69.41
$1179/SF
$1387/S F
Listings Days on Market
D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS
2022
2023
© Skybox Realty Inc, 2024
43
Skybox Realty 2023 Annual Report
2023 Q4 Sales Address
BR / BA
SQFT
260 King 881
1/1
665
110 Channel 616
1/1
508
300 Berry 518
1/1
657
300 Berry 1207
2/2
732
250 King 872
2/2
1,144
325 China Basin 515
2/2
1,295
708 Long Bridge 108
2/2
1,432
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
$585,000
$879.70
146.62
$600,000
$1,181.10
92.45
$680,000
$1,035.01
97.84
$785,400
$1,072.95
98.79
$920,000
$804.20
96.03
$1,300,000
$1,003.86
93.19
$1,388,000
$969.27
87.85
© Skybox Realty Inc, 2024
45
Skybox Realty 2023 Annual Report
Paul Hwang
Paul Hwang Activity (2021-2023 Sales) # of Transactions
103+ Sold Volume
$187,254,400 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 Quarterly Reports!
Paul Hwang Leasing Activity 2022 # Leased
40+
2023 # Leased
62+
© Skybox Realty Inc, 2024
47
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Paul Hwang
415.216.8746 | dre 01371169 paul@skyboxrealty.com
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