SAN FRANCISCO MARKET UPDATE

Q3 wrap-up

 

Single-Family Homes

The San Francisco housing market remains strong as the third quarter ends. The median sale price for single family homes is 15% higher than in Q3 of 2017, reaching $1.57MM. Similarly, the median price per square foot is 8% higher this year at $952. Looking across neighborhoods, the Marina and Cow Hollow top the list for median sale price, while Pacific Heights and Presidio Heights lead on price per square foot. Neighborhoods in District 2 saw the most number of single family homes sold.

  YEAR-OVER-YEAR COMPARISON:  SINGLE FAMILY RESIDENCES

YEAR-OVER-YEAR COMPARISON: SINGLE FAMILY RESIDENCES

  YEAR-TO-DATE 2018:  SINGLE FAMILY RESIDENCES

YEAR-TO-DATE 2018: SINGLE FAMILY RESIDENCES

 

Condominiums and TIC's

The median sale price for condominiums/TIC is up 6% to $1.2MM. At the same time, homes are selling faster at a median market time of 19 days; a 14% drop from last year. There were 10% more condominiums/TIC sold in Q3 than at the same time last year. Looking across neighborhoods, Russian Hill leads on median sale price, while the Sunset and Bernal Heights leads in sales over the median sale price. The highest number of condominium/TIC sales occurred in South Beach. 

  YEAR-OVER-YEAR COMPARISON:  CONDOMINIUMS/TIC

YEAR-OVER-YEAR COMPARISON: CONDOMINIUMS/TIC

  YEAR-TO-DATE 2018:  CONDOMINIUMS/TIC

YEAR-TO-DATE 2018: CONDOMINIUMS/TIC


MEDIAN AREA VALUES

 

MEDIAN PROPERTY VALUES - SINGLE FAMILY HOMES

MEDIAN PROPERTY VALUES - CONDO/TIC

For past San Francisco market updates, please visit Vanguard Properties' archive.

Real Estate market in the San Francisco Bay Area is dynamic and ever-changing. Small nuances are usually a great factor to property values and their future growth. Please see the graph below for a snapshot of the market's general performance within the past five years and contact us with any questions or to request analysis tailored to your specific goals as there are always unique opportunities we can help realize.

TOP 5 - Q3

 

TOP FIVE SALES - Single Family Houses

 2209 Pacific Ave | Pacific Heights   $12,300,000   $1,832/SqFt  5 bed/6.5 bath  6,715 SqFt

2209 Pacific Ave | Pacific Heights

$12,300,000

$1,832/SqFt

5 bed/6.5 bath

6,715 SqFt

 2050 Jackson St | Pacific Heights   $10,500,000   $1,854/SqFt  3 bed/4.75 bath  5,664 SqFt

2050 Jackson St | Pacific Heights

$10,500,000

$1,854/SqFt

3 bed/4.75 bath

5,664 SqFt

 3323 Clay St | Presidio Heights   $9,350,000   $1,437/SqFt  6 bed/6.5 bath  6,505 SqFt

3323 Clay St |
Presidio Heights

$9,350,000

$1,437/SqFt

6 bed/6.5 bath

6,505 SqFt

 15 Presidio Ter | Presidio Heights   $7,650,000   $1,748/SQ. FT.  7 bed/4.5 bath  4,376 SQ. FT.

15 Presidio Ter | Presidio Heights

$7,650,000

$1,748/SQ. FT.

7 bed/4.5 bath

4,376 SQ. FT.

 2764 Greenwich St | Cow Hollow   $7,525,000   $1,597/SQ. FT.  4 bed/4.5 bath  4,712 SQ. FT.

2764 Greenwich St | Cow Hollow

$7,525,000

$1,597/SQ. FT.

4 bed/4.5 bath

4,712 SQ. FT.


TOP FIVE SALES - Condominiums

 401 Harrison St #PH45B | South Beach   $7,300,000   $2,271/SQ. FT.  3 bed/3.5 bath  3,214 SQ. FT.

401 Harrison St #PH45B | South Beach

$7,300,000

$2,271/SQ. FT.

3 bed/3.5 bath

3,214 SQ. FT.

 201 Folsom St #32B | South Beach   $5,250,000   $1,950/SQ. FT.  3 bed/3 bath  2,692 SQ. FT.

201 Folsom St #32B | South Beach

$5,250,000

$1,950/SQ. FT.

3 bed/3 bath

2,692 SQ. FT.

 201 Folsom St #38A | South Beach   $4,832,000   $3,082/SqFt  2 bed/2 bath  1,568 SqFt

201 Folsom St #38A | South Beach

$4,832,000

$3,082/SqFt

2 bed/2 bath

1,568 SqFt

 420 Mission Bay Blvd #1602 | Mission Bay   $4,500,000   $1,500/SQ. FT.  3 bed/2.5 bath  3,000 SQ. FT.

420 Mission Bay Blvd #1602 | Mission Bay

$4,500,000

$1,500/SQ. FT.

3 bed/2.5 bath

3,000 SQ. FT.

 1911-A Vallejo St | Pacific Heights   $4,250,000   $1,402/SQ. FT.  3 bed/3.5 bath  3,031 SQ. FT.

1911-A Vallejo St | Pacific Heights

$4,250,000

$1,402/SQ. FT.

3 bed/3.5 bath

3,031 SQ. FT.


One Cool Thing


San Francisco Headlines

October 19, 2018

Headlines by Alek Keytiyev San Francisco Realtor Real Estate Agent

WHAT YOU MISSED THIS WEEK:

Though Transit Center is still closed, Fremont Street reopens

Lower Nob Hill development could be approved this week

115-unit development in Tenderloin moving ahead

Supervisors approve India Basin housing development

Large apartment development in SoMa planned


COMMUNITY

 

Fremont Street reopens, Transit Center still closed

"The section of Fremont Street underneath the damaged Salesforce Transit Center will be open to through traffic again today (Monday), but the center itself remains closed and bus traffic will continue rerouting to the temporary transit center around the block. SFMTA has diverted Fremont Street traffic between Mission and Howard ever since the discovery of cracks in critical support beams holding up the structure overhead in late September." 

CONTINUE READING ON CURBED


DEVELOPMENT PIPELINE

 

Bigger Cut for Approved Development in the Trendyloin

"...And with the aforementioned building permit having since been approved, the list price for the 430 Eddy Street parcel and plans has just been reduced to $2.998 million or roughly $130,000 per entitled studio unit, “in [the] up and coming Tenderloin District…on a trendy block,” not including the value of the development’s 931-square-foot commercial space fronting Eddy." 

CONTINUE READING ON SOCKETSITE

Downsized Development in the Tendernob Slated for Approval


"Plans to raze the “fully remodeled Single-Family Home with all the bells and whistles” at611 Jones Street, which was purchased for $3 million in 2015, and build up to 90 feet in height upon the narrow Lower Nob Hill site, a block from its border with the Tenderloin, could be approved this week.Plans to develop a ten-story building, with nine (9) condos over a two-car garage on the parcel, were approved by the City back in 2001 but were subsequently abandoned and more recent plans for a 13-story, 12-unit building to rise up to 130 feet in height on the site have been abandoned as well." 

CONTINUE READING ON SOCKETSITE

Supes reject environmental appeals, approve India Basin housing development

"The Board of Supervisors unanimously approved a more than 1,500 unit housing development with parkland and commercial space in India Basin Tuesday after rejecting appeals of the project. The board voted 10-1 to reject the two appeals of the environmental impact report, challenging its adequacy under the California Environmental Quality Act. Supervisor Sandra Fewer, the lone dissenting vote, had suggested further review was needed to examine other measures to address air quality concerns." 

CONTINUE READING ON EXAMINER

Plans for 115-Unit Building in the Tenderloin Move Ahead


"While the two-story garage at O’Farrell Street has been identified as a contributor to the Uptown Tenderloin Historic District, the team behind a proposed 13-story development to rise up to 130 feet in height upon its parcel are pushing ahead...The building as envisioned would yield 115 apartments, a mix of studios and one-bedrooms, over a new 21-car garage, lobby, leasing office and retail space fronting O’Farrell." CONTINUE READING ON SOCKETSITE

Bigger Cut for Approved Development in the Trendyloin

"...And with the aforementioned building permit having since been approved, the list price for the 430 Eddy Street parcel and plans has just been reduced to $2.998 million or roughly $130,000 per entitled studio unit, “in [the] up and coming Tenderloin District…on a trendy block,” not including the value of the development’s 931-square-foot commercial space fronting Eddy." 

CONTINUE READING ON SOCKETSITE 

Supes reject environmental appeals, approve India Basin housing development

"The Board of Supervisors unanimously approved a more than 1,500 unit housing development with parkland and commercial space in India Basin Tuesday after rejecting appeals of the project. The board voted 10-1 to reject the two appeals of the environmental impact report, challenging its adequacy under the California Environmental Quality Act. Supervisor Sandra Fewer, the lone dissenting vote, had suggested further review was needed to examine other measures to address air quality concerns." 

CONTINUE READING ON EXAMINER 

Bonus Plans for Central SoMa Gas Station Site (And More)

"...Instead, plans to level both the gas station and the adjacent Speedway Digital Printing building at 475 4th Street have been drafted. And as newly pitched to Planning, the parcels would be merged and a 20-story development would rise up to 209 feet in height on the site, leveraging California’s Density Bonus Law to build above the site’s 130-foot limit. The development as envisioned would yield 280 apartments, a mix of 168 one-bedrooms and 112 twos, over 5,600 square feet of replacement Production, Distribution and Repair (PDR) space at the corner of 4th and Stillman and a basement garage for 36 cars and 147 bikes." 

CONTINUE READING ON SOCKETSITE 

Monster Planning Commission Meeting in the Mission Next Month

"With the legal battle between the family that held title to the 1979 Mission Street parcel and the development team behind the proposed 331-unit project to rise up to ten stories on the corner site having been resolved and plans for the so-called “Monster in the Mission” having quietly been put back in play, San Francisco’s Planning Commission will be traveling to the Mission next to hold a special public hearing... In addition to the 331 residential units, the proposed development would also yield over 32,000 square feet of new ground floor retail space, a garage for 163 cars and 162 bikes, and various streetscape and plaza improvements." 

CONTINUE READING ON SOCKETSITE 

A Little Laurel Heights Infill Project

"Purchased for $3.425 million last year, plans to level the little medical office building at 3641-3643 California Street, which is home to Golden Gate Pediatrics, across from CPMC’s 5-acre California Hospital Campus (which is to be razed and redeveloped as well), are in the works. As designed by DMARC studio, a contemporary four-story building could rise up to 40 feet in height across the Laurel Heights site, with seven condos, including five three-bedroom units, over a seven-car garage and a 700-square-foot retail space fronting California Street." 

CONTINUE READING ON SOCKETSITE


October 12, 2018

Headlines by Alek Keytiyev San Francisco Real Estate Agent Realtor

WHAT YOU MISSED THIS WEEK:

SF easing onerous approval process for in-law units

Construction has begun on Muni's rapid project

Plans for 129 apartment development in Mission District revealed

New timing announced for massive Balboa Reservoir project

Residential care facility now planned for Van Ness Corridor site 


COMMUNITY

 

City easing onerous approval process for accessory dwelling units

"San Francisco’s program to permit accessory dwelling units, or in-law units, has resulted in just 81 new homes, a low rate city officials are keenly aware of, and trying to fix. The low number of units is blamed primarily on the onerous process applicants have had to go through and the challenges associated with fire codes of building units within old buildings. A Civil Grand Jury report issued in July identified the challenges and recommended fixes — most of which city departments have or will implement — and that was followed by a directive from Mayor London Breed issued on Aug. 30 to streamline permitting and clear the backlog. " 

CONTINUE READING ON EXAMINER 

Construction kicks off on first phase of Muni's 38-Geary Rapid Project

"Construction has begun on the first round of improvements to speed up Muni's 38-Geary bus route, including the discontinuation or relocation of several bus stops. The first phase of the long-awaited Geary Rapid Project will install nearly two miles of transit-only lanes running both east and west between Stanyan and Gough streets, with the goal of speeding service for the line's estimated 54,000 daily riders." 

CONTINUE READING ON HOODLINE


DEVELOPMENT PIPELINE

 

Big Plans for Conspicuous Mission District Site Revealed

"...And while it doesn’t appear that a sale has occurred, big plans to redevelop the site have been drawn and submitted to Planning for review. As newly rendered by Ian Birchall and Associates, the 9-story development would rise up to 84 feet in height as envisioned, with 129 apartments over 6,400 square feet of ground floor retail space spread across four storefronts fronting Mission and 22nd, a 1,600-square-foot “community space,” and a basement garage for 30 cars and 121 bikes with its entrance on Barlett Street, to which the development would extend. While the fenced-off2588 Mission Street parcel is only zoned for development up to 65 feet in height, the project team is proposing to leverage California’s Density Bonus law for the additional height and density and without which under 100 units could be built." 

CONTINUE READING ON SOCKETSITE

New Plans for a Prominent Van Ness Corridor Site

"Plans to raze the former KRON TV building at 1001 Van Ness Avenue and develop a 14-story building, with 239 condos over 5,000 square feet of retail space fronting Van Ness, were approved two years ago but never broke ground. But that doesn’t mean there hasn’t been any behind the scenes movement with respect to redeveloping the site. In fact, both demolition and building permits for the site have been requested. But the previously approved plans have been scrapped. Instead, Oryx Partners is now planning to build a residential care facility on the Cathedral Hill site, with 247 assisted living units for seniors over 8,200 square feet of ground-floor retail space, the new plans for which are working their way through planning. We’ll keep you posted and plugged-in." 

CONTINUE READING ON SOCKETSITE

Refined Timing for Proposed Balboa Reservoir Redevelopment

"According to a draft Fiscal Responsibility report for the massive Balboa Reservoir project, the projected $560 million development, a total which doesn’t include the price of the land or community benefits which have yet to be negotiated, could break ground 'as early as 2021'... As such, the first wave of the development’s proposed 1,100-ish residential units could be ready for occupancy as early as 2023 with a second wave following two years later, 'depending on market conditions.'" 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

SF weekend events: Dogs, fireworks and a whole lot of festivals

"Hopefully you have some gaps in your weekend plans, because there's great food, live music, fireworks and puppy cuddles all headed your way. Here's our top picks for some of the entertainment options in town this weekend." 

CONTINUE READING ON HOODLINE


October 5, 2018

Headlines by Alek Keytiyev San Francisco Real Estate Agent Realtor

WHAT YOU MISSED THIS WEEK:

New law gives potential for housing units near BART stations

60-unit development in Van Ness Corridor closer to reality

63-unit development on Polk Street newly rendered

37-unit development on Folsom street could be approved this week

Transit Center to remain closed through October


Community

 

New law could spur thousands of new housing units near BART stations

"A new law that targets two of the Bay Area’s most intractable problems — a lack of housing and congested traffic — could eventually lead to a sweeping transformation of the region’s BART stations from low-slung commuter hubs into dense centers of housing and commercial space. California Gov. Jerry Brown on Sunday signed into law bill AB 2923, which seeks to simplify the process for Bay Area Rapid Transit to develop the land it owns. It requires cities to adapt their zoning rules to help BART with its developments, and allows the transit agency to move ahead if local authorities fail to cooperate." 

CONTINUE READING ON BUSINESS TIMES 

SF secures federal funding to help house 99 homeless persons

"San Francisco’s effort to address homelessness just got a boost from the federal government with $1.8 million in rent subsidies that’s expected to help house 99 homeless persons with disabilities. The San Francisco Housing Authority was among 285 public housing agencies to receive federal funding this month to help subsidize rents for homeless people moving into housing, and has partnered with the Department of Homelessness and Supportive Services on the effort." 

CONTINUE READING ON THE EXAMINER


DEVELOPMENT PIPELINE

 

Supersized Van Ness Corridor Development Closer to Reality

"...As newly rendered by Costa Brown Architecture above, versus earlier this year, the proposed 9-story building would rise to a height of 84 feet, with 60 condos(now a mix of 27 one-bedrooms, 26 twos and 7 threes) over 6,600 square feet of commercial space spread across three new storefronts and a basement garage for 70 cars (including 24 spaces for the commercial tenants and one for a car sharing program)...The refined plans and HOME SF-based bonus for the 2601 Van Ness Avenue project could be approved by San Francisco’s Planning Commission on Thursday, October 4." 

CONTINUE READING ON SOCKETSITE

Projected Impact of the Massive Potrero Power Station Project

"The Draft Environmental Impact Report (DEIR) for the proposed redevelopment of the 29-acre Potrero Power Plant site – which could yield nearly 2,700 units of housing; 1.6 million square feet of commercial space (including office, retail, research and industrial); a 220-room waterfront hotel; parking for around 2,600 cars and 1,950 bikes; and 6.2 acres of new open space/parks – has just been released (Volume 1, Volume 2) and a public hearing on the report has been scheduled for November 8." 

CONTINUE READING ON SOCKETSITE

Bonus Plans for Prominent Polk Street Site Newly Rendered

"Plans to level the Out of The Closet thrift store complex on the southeast corner of Polk and California and develop a 7-story building with 63 condos over 8,000 square feet of new retail space and an underground garage for 41 cars were approved back in 2016. But the Polk Gulch project has yet to break ground.Instead, new plans are now being drawn for an 8-story building to rise up to 87 feet in height on the 1567 California Street site, with 100 units of housing over 10,000 square feet of retail space and zero (0) off-street parking spots."

 CONTINUE READING ON SOCKETSITE

RFP Issued for Redevelopment of Fort Scott

"The official Request for Proposals (RFP) has been issued to the four finalists selected to bid for the opportunity to redevelop the 30-acre Fort Winfield Scott campus in the Presidio." 

CONTINUE READING ON SOCKETSITE

Folsom Street Fare

"In the works since 2015, plans to level the former AltSchool building at 1245 Folsom Street and build up to 64 feet in height upon its through-block site could be approved this week. As redesigned by D-Scheme Studio and now sporting a more industrial, versus upscale contemporary, look, the proposed 37-unit development would rise up to six stories in height along Folsom Street, with a 3,500-square-foot commercial space on its ground floor, and five stories on the rear half of the site, fronting Ringold." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Salesforce Transit Center Won’t Reopen in October

"The new Salesforce Transit Center will remain closed through the end of October, at least. While the center’s rooftop park could reopen before the cracked beams which support it are fixed, it won’t reopen before the root cause of the fissures is known. And bus service won’t return to the new transit center until a permanent fix has been engineered and successfully implemented." 

CONTINUE READING ON SOCKETSITE 

Bay Area Multifamily Investment Remains Strong Despite Threat Of Costa-Hawkins Repeal 

"Investors are paying top dollar for multifamily assets in the San Francisco Bay Area, lured by ongoing rent increases, tremendous demand and strong employment growth. Even with the potential negative impacts of a repeal to the Costa-Hawkins Rental Housing Act looming, investors keep coming to the Bay Area. Sales volume in the Bay Area increased $458M to $1.2B during Q2 quarter over quarter, according to Cushman & Wakefield’s second-quarter Market Insight Multifamily Report. Sales volume reached $2B year to date with an average of $421K price per unit. Private and institutional capital made up 78% of the total investment activity." 

CONTINUE READING ON BISNOW


September 28, 2018

Headlines by Alek Keytiyev San Francisco Real Estate Agent Realtor

WHAT YOU MISSED THIS WEEK:

Crews begin repairing cracked beams at Transbay Transit Center

Prop. 10 explained - Why more rent control means less housing

Revised plans for hotel on Washington Street

Central SoMa Plan could be adopted next month

Caltrain canceling SF weekend service until 2019


COMMUNITY

 

Crews Begin Work to Shore up Cracked Beams at SF’s Transbay Transit Center

"Crews made preparations to brace a damaged section of San Francisco’s new Transbay Transit Center on Thursday, after cracks were discovered this week in two large steel beams over Fremont Street." 

CONTINUE READING ON CHRONICLE 

Our View: No on Prop. 10 — More Rent Control Really Means Less Housing

"Rent control has long been a poster child for the law of unintended consequences. Yes, it holds down rents for one group of tenants, but it tends to raise them for the rest...The flaws surrounding rent control are no secret, a major reason why it largely went into reverse after its heyday in the 1960s and ’70s (San Francisco being an obvious exception). Prop. 10, on November’s ballot, is intended to usher in a new era of rent control across California. But Prop. 10 addresses none of rent control’s underlying flaws; indeed, it adds complications of its own. Prop. 10 embraces the “local control” that underpins California’s housing shortage: More than 500 cities and counties each could adopt virtually any form of rent control they liked, with few standards or limits. It could, for example, be extended to single-family homes. “Vacancy control” could freeze old rents even for a new tenant." 

CONTINUE READING ON BUSINESS TIMES


DEVELOPMENT PIPELINE

 

Refined Plans for “Too Tall” Hotel Tower

"Having rejected the Planning Department’s recommendation that the height of a proposed tower to rise upon the Il Massimo building’s parcel at 439 Washington Street, which sits in a “transitional zone” between Downtown and the Jackson Square historic district, should be cut in half,Peninsular Realty is pushing forward with plans for a 200-foot-tall hotel to rise upon the site and the adjacent parcel at 425 Washington Street as well.As refined and newly rendered by Stanton Architecture, the 22-story tower would now yield 309 hotel rooms with a lobby bar fronting Washington Street, a small retail/café space fronting Merchant, a mid-block “POPOS” passageway between the two streets and a rooftop terrace for guests." 

CONTINUE READING ON SOCKETSITE

SF’s Ambitious Central SoMa Plan Could be Adopted Next Month

"With San Francisco’s Board of Supervisors having upheld the certification of the City’s plan to mitigate the projected environmental impacts of its ambitious Central SoMa Plan, rejecting a handful of appeals in a majority vote, the Board is now on track to adopt the plan next month. If adopted by the Board, the plan, which has been in the works since 2010 and could now clear the way for the development of nearly 9,000 more homes and office space for over 30,000 employees, would then head to the Mayor for her signature.  And if signed by the Mayor, the City’s Central SoMa Plan would go into effect 30 days later, assuming no additional legal challenges are filed." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Caltrain Canceling San Francisco Weekend Service Until 2019

"Beginning October 6 there will be no Caltrain service at either of the San Francisco stations on Saturdays and Sundays. Bayshore Station will be the rail line’s northernmost weekend drop off until 'late spring 2019.'According to the Caltrain site, the weekend stoppage 'is necessary to complete the San Francisco tunnel work, which will pave the way for Caltrain Electrification.'" 

CONTINUE READING ON CURBED


September 21, 2018

Headlines by Alek Keytiyev San Francisco Real Estate Agent Realtor

WHAT YOU MISSED THIS WEEK:

Mayor Breed announces new law aimed at securing at-risk housing

Plans for 7-unit redevelopment on Franklin Street moving forward

Potential 7-unit redevelopment in Mission Dolores on the market

Refined plans & timing for Massive Presidio Heights development

Inventory of homes for sale in SF hits 7-year high


COMMUNITY

 

Mayor Breed Introduces Law to Keep Over 3,400 At-Risk Housing Units Afloat

"Just two months after being inaugurated, Mayor London Breed has introduced her first major law in an attempt to secure San Francisco’s stalled pipeline of new housing. It targets 3,420 units of housing, 498 of which would be permanently affordable, "currently at-risk due to unrealistic permitting deadlines" in part set by Proposition C, according to the mayor's office. In particular, the 30-month timetable set by the measure didn’t take into account the lengthy entitlement process, which can take years." 

CONTINUE READING ON BUSINESS TIMES


DEVELOPMENT PIPELINE

 

Sexy Time Development Take Two

"Plans to raze the recently shuttered Institute for Advanced Study of Human Sexuality building at 1523 Franklin Street and construct a decidedly modern building designed by Alan Tse and Charles Chan Architectural Studio upon its corner parcel have been abandoned.But plans to redevelop the site are moving forward. Andas newly rendered by RG-Architecture for JS Sullivan Development below, a setback six-story addition to the building’s shell, which would be renovated, could now rise up to 84 feet in height upon the parcel, with seven full-floor condos(six three-bedrooms and one four) over a 650 square foot café space fronting Franklin Street and a basement garage for six stacked cars, assuming a variance from having to provide a rear yard, as mandated by San Francisco’s Planning Code, is approved next week." 

CONTINUE READING ON SOCKETSITE

Refined Plans and Timing for Semi-Massive Presidio Heights Development

"With an Environmental Impact Report (EIR) for the formally proposed semi-massive redevelopment of CPMC’s nearly 5-acre California Hospital Campus at 3700 California Street about to be drafted, the project team has refined their plans and projected timing for the project. The refined plans now include 273 units of high-end housing, up from 258 as previously envisioned, spread across 31 new buildings rising up to seven stories in height on the southern border of Presidio Heights." 

CONTINUE READING ON SOCKETSITE

End of Days for the Elbo Room? Building on the Market for $4.2M

"With the Elbo Room’s lease now set to expire on January 1, 2019 and plans to redevelop its site having been approved, the corner building which it currently occupies at 645-647 Valencia Street is now on the market with a $4.2 million price tag, touting transferable building permits for the “development [of a] prime Valencia Street location” which have already been secured. In the works since 2014, as we first reported at the time, the development would yield a five-story building with seven condos over a smaller, 500-square-foot commercial space fronting Valencia Street and a garage for four cars with its entrance on Sycamore." 

CONTINUE READING ON SOCKETSITE


ETCETERA

 

Inventory of Homes for Sale in San Francisco Hits 7-Year High

"...The number of homes actively listed for sale in the San Francisco (900) has just hit a 7-year high and is now running 12 percent higher on a year-over-year basis and 30 percent above its mark at the same time in 2015 (690), the year which remains an inflection point for the current cycle." 

CONTINUE READING ON SOCKETSITE 

Asking Rents in SF and Oakland Ticked Up but Didn’t Peak in Q3

"Having ticked up a little over one (1) percent from the second to third quarter of this year, the weighted average asking rent for an apartment in San Francisco – including one-off rentals as well as those in larger developments such as 150 Van Ness above – is now running around $4,250 a month, which is a little under one (1) percent lower versus the same time last year and 2.6 percent below a peak in the fourth quarter of 2015 with the average asking rent for a one-bedroom now running around $3,620 (versus $3,650 in 2015)." 

CONTINUE READING ON SOCKETSITE


 

Prepared by: VANGUARD PROPERTIES - FORWARD THINKING REAL ESTATE