Dear Neighbors,
Fall is upon us, as Q3 has come and gone. Prices have stabilized, as sellers have accepted lower pricing. Office space continues to be unused at historically high vacancy rates. Union Square has continued to spiral. Condominium sales have passed through their seasonal highs, and we have entered into the slow season. One bedroom sales have been much slower compared to two bedroom sales.
There has been much talk of the effect of the Federal Reserve cut in interest rates. Are additional rate cuts in 2025 beneficial for condominium sales in San Francisco? We must examine the underlying reason the Fed would cut rates. Although they would make home purchases more affordable, it also likely means the economy is suffering. The inverted yield curve of the past 20 months suggests recession is near. I believe cutting rates would be an indicator of a slow economy. Any kind of recession may be a mild one as companies have already started to cut costs.
Rents have held up very well and are constant. What lies ahead? The future depends on the leaders we elect. The elections are your chance to voice your opinion. Please vote! We would love to help you with any of your real estate needs, just give us a call.
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.
Beach & Yerba Buena Q3 Snapshot
South Beach 2024 Q3
# of Transactions 54
YOY / 13% QOQ
Average Sales Price
$1,343,540
* Does not include new construction. * Median Price $1,292,500
Average Price per Square Foot
$1,106
Average Days on the Market
57
Yerba Buena 2024 Q3
# of Transactions 10
Average Sales Price $1,075,747
Average Price per Square Foot
$908
Average Days on the Market
148
Historical Data
* Includes new construction marketed on MLS.
SOUTH BEACH YERBA BUENA
The Infinity
| $2,995,000 (3BR) $1731/sf
D21D | $2,999,000 (2BR) $2270/sf
| $1,179,000 (2BR) $1028/sf
D8H | $779,000 (1BR) $1,063/sf
| $1,289,000 (2BR) $1012/sf
| $637,500 (1BR) $1165/sf
| $855,000 (1BR) $1009/sf
D35D
A3G
D9E
A4G
# of Transactions
---- YOY / ---- QOQ
Sales Price
$1,403,125 7.9% YOY / 20% QOQ * Median Price $1,225,000 Q3 Q2 Q1 Q4
301 / 333 Main, 318 / 338 Spear
Average $/SF $1,149
Buyer Demographic
Average Days on Market
Lumina
| $3,198,000 (3BR) $1786/sf
D33D | $1,250,000 (1BR) $1298/sf
D26C | $2,400,000 (2BR) $1604/sf
| $1,900,000 (2BR) $1356/sf
D22F | $1,595,000 (2BR) $1351/sf
| $989,000 (1BR) $1133/sf
| $1,750,000 (1BR) $1298/sf
| $795,000 (1BR) $864/sf
D7H | $920,000 (1BR) $1077/sf
| $1,455,000 (2BR) $1039/sf
| $1,798,000 (2BR) $1272/sf
| $1,385,000 (2BR) $1173/sf
D35E
C7G
D4G
D10D
D4F
D23G
C7F
C8K
| $2,200,000 (2BR) $1608/sf
| $1,509,500 (2BR) $1267/sf
B26A
B11F
318 / 338 Main, 333 Beale, 201 Folsom
Average $/SF
$1,354
Buyer Demographic
Average Days on Market
31
The Harrison
28C | $2,050,000 (2BR) $1537/sf
9H | $868,000 (1BR) $1144/sf
17B | $1,548,000 (2BR) $1181/sf
44A | $3,300,000 (2BR) $2021/sf
41B | $3,599,988 (3BR) $1818/sf
40E | $2,295,000 (2BR) $1807/sf
31C | $2,299,000 (2BR) $1723/sf
26B | $1,599,000 (2BR) $1220/sf
18F | $1,145,000 (1BR) $1380/sf
17D | $1,898,000 (2BR) $1463/sf
10D | $759,000 (1BR) $1250/sf
6F | $1,498,888 (2BR) $1209/sf
5F | $1,275,000 (2BR) $1027/sf
# of Transactions
---- YOY / 50% QOQ Average Sales Price
$2,050,000 138% YOY / 4.1% QOQ * Median Price $2,050,000
Average $/SF
$1,537
Buyer Demographic
Average Days on Market
131
One Rincon Hill
3401 | $999,000 (1BR)
2603 | $1,675,000 (2BR)
1506 | $1,445,000 (2BR)
1107 | $899,000 (1BR) $1098/sf
$1194/sf
$1167/sf
$1311/sf
One Rincon Hill
# of Transactions
400% YOY / 67% QOQ
$1,799,000 145% YOY / 17% QOQ * Median Price $1,735,000
425 1st, 489 Harrison
Average $/SF $1,326
Buyer Demographic
Average Days on Market
73
Average $/SF $1,119
Buyer Demographic
Average Days on Market 83
Watermark
12H | $1,748,888 (2BR) $1506/sf
11F | $428,206 (2BR) bmr 10C | $828,000 (1BR) $1034/sf
7B | $1,200,000 (2BR) $1178/sf
Buyer Demographic
One Hawthorne
23G | $1,250,000 (1BR) $----/sf
19E | $1,250,000 (2BR) $1006/sf
18F | $1,750,000 (2BR) $1267/sf
14C | $1,500,000 (2BR) $1142/sf
11C | $1,328,000 (2BR) $1005/sf
3D | $725,000 (1BR) $862/sf
One Hawthorne
Buyer Demographic
The Brannan
| $1,898,888 (2BR) $1437/sf
10G | $1,535,000 (2BR) $1012/sf
2D | $1,698,000 (2BR) $1209/sf
2F
12D | $1,299,000 (2BR) $1107/sf
10G | $1,725,000 (2BR) $1138/sf
10D | $1,335,000 (2BR)
|
5A | $1,528,000 (2BR) $1195/sf
5D
$1,248,000 (2BR) $1064/sf
$1138/sf
# of Transactions
50% YOY / 40% QOQ
Sales Price $1,529,333 35% YOY / 6.4% QOQ * Median Price $1,528,000
219 / 229 / 239 Brannan
Average $/SF $1,157
Buyer Demographic
Average Days on Market 46
Millennium Tower
40E | $1,605,000 (2BR) $936/sf
| $1,995,000 (2BR) $919/sf
28A | $1,069,000 (2BR) $705/sf
| $3,975,000 (2BR) $1469/sf 23D | $699,900 (1BR) $887/sf PH3 | $1,398,000 (2BR) $1036/sf
| $1,195,000 (2BR) $960/sf
20G | $995,000 (2BR) $799/sf
18E | $900,000 (2BR) $820/sf
15D | $615,000 (1BR) $779/sf
5E | $799,800 (2BR) $704/sf
3F | $1,000,000 (2BR) $542/sf PHD | $4,995,000 (2BR) $2240/sf 52B | $6,500,000 (3BR) $1961/sf 46F | $1,450,000 (2BR) $961/sf
34F | $1,495,000 (2BR) $923/sf 45C | $1,800,000 (2BR) $1124/sf
Millennium Tower
# of Transactions
Buyer Demographic
72 Townsend
312 | $990,000 (1BR) $1100/sf 402 | $1,230,000 (2BR) $954/sf
607 | $850,000 (1BR) $999/sf
304 | $1,250,000 (2BR) $1054/sf
# of Transactions
Average Sales Price $1,110,000
Median Price $1,121,000 Q3 Q2 Q1 Q4
Average $/SF $1,002 Average Days on Market 28 Buyer Demographic
520 | $1,070,000 (2BR) $988/sf
604 | $1,050,000 (2BR) $979/sf
|
605 | $769,000 (1BR) $1065/sf 608 | $520,000 (1BR) $965/sf 804
$1,159,000 (2BR) $1088/sf
403 Main, 38 Bryant
Average $/SF
Buyer Demographic
Average Days on Market
Bridgeview
707 | $970,000 (2BR) $880/sf
1114 | $1,375,000 (3BR) $960/sf
Buyer Demographic
Baycrest
713 | $699,000 (2BR) $950/sf 117 | $245,794 (1BR) bmr 204 | $649,000 (1BR) $816/sf
620 | $670,000 (2BR) $841/sf
Buyer Demographic
The Towers
# of Transactions
---- YOY / 200% QOQ
Sales Price $1,345,029 15% YOY / 16% QOQ * Median Price $1,350,000 Q3 Q2 Q1
Average $/SF $1,106
Buyer Demographic
Average Days on Market 50
407 | $1,399,000 (2BR) $917/sf
322 | $1,750,000 (2BR) $857/sf
239 | $1,850,000 (2BR) $954/sf
200 Brannan
# of Transactions
$1,850,000 35% YOY / 36% QOQ * Median Price $1,850,000 Q3 Q2 Q1 Q4
Buyer Demographic
2024 Q3 Sales
Address
355 1st S408
318 Spear 4G
355 1st S910
333 1st N305
333 Main 5K
318 Spear 3G
425 1st 1407
301 Main 7A
239 Brannan 10D
338 Main 4F
301 Main 18F
338 Main 4G
355 1st S1802
201 Folsom 11F
239 Brannan 5A
425 1st 2603
201 Folsom 25F
239 Brannan 10G
425 1st 3803
301 Main 5B
338 Main 23G
401 Harrison 28C
563 547 675 709 829 847 819 1,163 1,173 1,181 1,307 1,401 1,166 1,191 1,279 1,278 1,191 1,516 1,278 1,845 1,401 1,334
* Only showing sold homes in buildings featured in this book. Does not include new construction or bmrs.
Sale Price
$629,000
$637,500
$708,500
$745,000
$804,375
$855,000
$860,000
$1,225,000
$1,335,000
$1,385,000
$1,435,000
$1,455,000
$1,468,000
$1,525,000
$1,500,000
$1,675,000
$1,780,000
$1,798,000
$1,735,000
$1,870,000
$1,900,000
$2,050,000 $/SF
$1,117.23
$1,165.45
$1,049.63
$1,050.78
$970.30
$1,009.45
$1,050.06
$1,053.31
$1,138.11
$1,172.74
$1,097.93
$1,038.54
$1,259.01
$1,267.42
$1,194.68
$1,310.64
$1,423.92
$1,137.86
$1,357.59
$1,013.55
$1,356.17
$1,536.73
2024 Q3 Sales cont...
Address
355 1st 2602
338 Main 26C
425 1st 5802
201 Folsom 32E
338 Spear 35D
201 Harrison 117
403 Main 608N
400 Beale 608
301 Mission 15D
201 Harrison 813
400 Beale 1805
400 Beale 2005
72 Townsend 607
400 Beale 707
301 Mission 3F
403 Main 520N
72 Townsend 402
301 Mission PH1
72 Townsend 304
88 King 711
88 King 403
88 King 904
1,309 1,496 1,784 1,730 658 539 694 789 736 828 828 851 1,102 1,845 1,083 1,289 1,953 1,186 1,242 1,244 1,167
* Only showing sold homes in buildings featured in this book. Does not include new construction or bmrs.
Sale Price
$2,075,000
$2,400,000
$2,650,000
$2,875,000
$2,995,000
$245,794
$520,000
$612,000
$615,000
$715,000
$765,000
$850,000
$850,000
$970,000
$1,000,000
$1,070,000
$1,230,000
$1,250,000
$1,250,000
$1,335,088
$1,350,000
$1,350,000
$1,585.18 $1,604.28 $---$1,611.55 $1,731.21 bmr $964.75 $881.84
$779.47
$971.47
$923.91
$1,026.57
$998.82
$880.22 $542.01
$988.00
$954.23 $640.04
$1,053.96
$1,074.95 $1,085.21 $1,156.81
2024 Q3 Sales cont...
Address
400 Beale 1114
301 Mission 40E
301 Mission 45C
200 Brannan 239
301 Mission 28C BR / BA 3 / 2 2 / 2 2 / 2 2 / 2 3 / 3.5
SQFT 1,433 1,714 1,602 1,940 2,170
* Only showing sold homes in buildings featured in this book. Does not include new construction or bmrs.
$1,375,000
$1,605,000
$1,800,000
$1,850,000 $1,895,000
181 Fremont
# in Contract / Sold
Manus
Gang
# of Units
# in Contract / Sold
380+
392 Monthly Absorption
6.8 Units
The Avery Architect OMA
# of Units 118 Monthly Absorption
# in Contract / Sold
.9 Units
Four Seasons Residences
# of Units
# in Contract / Sold
42+
146 Monthly Absorption
1.1 Units
One Steuart Lane
# of Units
# of Stories
# Sold
$205,750,900 Paul Hwang Activity (2021-2024 Sales)
Paul Hwang
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
