Hello Neighbors,
Mission Bay ended Q2 with 23 transactions total at an average price of $1,009,522 per unit, a 12% decline in transactions year over year. The average price per square foot remained fairly constant at $997 / sf. While the sales market continued to be sluggish, the rents have held up well with little or no decline. This can be attributed to the robust job market that UCSF creates and the fact that many of the jobs need to be in person. eg Lab work, etc.
China Basin Park opened and added to the family friendly nature of the neighborhood. Mission Rock continued its fast paced development with several high rise buildings opening for business. OpenAI, the creators of ChatGPT, continues to look for more office space close to its HQ in Mission Bay.
I anticipate the condo market for sale and leasing to continue to remain steady headed into the presidential elections. Election years usually have lower interest rates and higher equities. Typically, the year after an election is not as good as the election year. Therefore, if your time horizon to sell is 1-2 years, I advise you to complete the transactions in 2024. Please contact me for any of your real estate needs.
Best Regards,
Paul Hwang
, Ranked #1 in South Beach | 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.
BLVD
Mariposa
Mission Bay 2024 Q2
# of Transactions 23
Average Sales Price
$1,009,522
Average Price per Square Foot $997
Average Days on the Market
62
502 | $1,200,000 (2BR) $1250/sf
# of Transactions
Average Sales Price $1,200,000
Average $/SF $1,250
Buyer Demographic
Average Days on Market 5
# of Transactions
Arterra
of Transactions
Average $/SF $1,048
Buyer Demographic
Average Days on Market 104
Park Terrace
Park Terrace
# of Transactions
Buyer Demographic
of Transactions
8.4% YOY / 175% QOQ
Sales Price $736,636 1.2% YOY / 11% QOQ * Median Price $679,000
Buyer Demographic
| $803,000 (1BR) $892/sf
# of Transactions
$1,238,000 .44% YOY / 6.1% QOQ * Median Price $1,300,000 Q2 Q1 Q4 Q3
420 / 480 Mission Bay, 435 China Basin
Average $/SF $1,113
Buyer Demographic
Average Days on Market 28
# of Transactions
$1,085,000
330 Mission Bay, 325 China Basin
Average $/SF $1,037
Buyer Demographic
Average Days on Market
62
Arden
1309 | $3,395,000 (3BR) $1741/sf
900 | $1,699,000 (2BR) $1281/sf
215 | $1,575,000 (2BR) $1145/sf
1011 | $1,050,000 (1BR) $1339/sf
508 | $1,368,000 (2BR) $1148/sf
302 | $1,550,000 (2BR) $1201/sf
213 | $1,585,000 (2BR) $1203/sf
# of Transactions
708 / 718 Long Bridge
Average $/SF $1,203 Average Days on Market 15
Buyer Demographic
One Mission Bay
One Mission Bay
# of Transactions
200% YOY / 50% QOQ
Sales Price $1,545,333 58% YOY / 23% QOQ * Median Price $1,270,000
1000 3rd, 110 Channel
Average $/SF $1,193 Average Days on Market 31
Buyer Demographic
2024 Q2 Sales
Address
260 King 761
260 King 429
250 King 534
260 King 1517
260 King 807
250 King 408
300 Berry 618
260 King 1009
435 China Basin 118
260 King 857
260 King 423
110 Channel 421
300 Berry 1411
260 King 473
330 Mission Bay 405
260 King 1103
420 Mission Bay 305
235 Berry 502
1000 3rd 814
435 China Basin 423
480 Mission Bay 420
718 Long Bridge 213
1000 3rd 1302
618
760 671 896 787 657 823 900 936 927 763 932 987 1,046 1,286 925 960 1,198 1,234 1,357 1,318 1,827
* Only showing sold homes in buildings featured in this book. D oes not include new construction or bmrs.
Sale Price
$462,000
$555,000
$558,000
$639,000
$670,000
$679,000
$708,000
$780,000
$803,000
$825,000
$850,000
$888,000
$950,000
$950,000
$1,085,000
$1,135,000
$1,150,000
$1,200,000
$1,270,000
$1,450,000
$1,549,000
$1,585,000
$2,478,000
$1,077.63 $947.75 $892.22
$747.28
$916.94
$1,163.83
$1,019.31
$962.51
$1,037.28 $882.58 $1,243.24
$1,250.00
$1,060.10
$1,175.04 $1,141.49
$1,202.58 $1,356.32
Paul Hwang
Paul Hwang | 415.216.8746 | paul@skyboxrealty.com
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Paul Hwang Leasing Activity
