July 2019 WRAP-UP

Single-Family Homes

While the median sale price ticked down 1.6% on a year over year basis, the median market time remained at an extremely competitive 14 days and the price per square foot increased 4.4%. Similarly, the number of sales last month increased by 7.8% compared to July of last year. The current supply of inventory stands at about 1.2 months, well below the widely regarded equilibrium of 6 months.

High demand for real estate in San Francisco is also evident in the increasingly competitive office leasing market. Office leases are being snapped up before construction is even started. Pinterest recently signed a lease for 490K square feet at the 88 Bluxome Street mixed-use development within the city’s newly rezoned Central SoMa area; before the project was even approved (per Bisnow.com).

With the weighted average asking rent in San Francisco increasing to $4,300 (per SocketSite.com) and benchmark mortgage rates dropping to an amazingly low 3.6% for a 30-year fixed (per FreddieMac.com), now is a great time for potential purchasers to get their own home in the city.

YEAR-OVER-YEAR: SINGLE FAMILY RESIDENCES

MONTH-OVER-MONTH: SINGLE FAMILY RESIDENCES

 

Condominiums and TIC's

The median Condominium sale price increased 3.8% on a year-over-year basis to $1,235,000. Similarly, the price per square foot increased by 2.5% to $1,167. The median market time decreased 5 days from this time last year to 14 days. Over 7 out of ten homes sold over their list price with purchasers paying an average of 8% above asking. There are currently 329 Condominiums/TIC/Coops listed for sale in San Francisco (excluding BMRs and senior housing), ranging in price from $379K to $17.5M.

YEAR-OVER-YEAR: CONDOMINIUMS AND TIC

MONTH-OVER-MONTH: CONDOMINIUMS/TIC


MEDIAN AREA VALUES

 

MEDIAN PROPERTY VALUES - SINGLE FAMILY HOMES

MEDIAN PROPERTY VALUES - CONDOMINIUMS/TIC

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


Top 5 - Q2 2019

 

Top Five Sales: Single-Family HoMES

2900 Vallejo | Pacific Heights   $27,000,000   $2,783/SQ. FT.  6 bed/8.5 bath  9,702 SQ. FT.

2900 Vallejo | Pacific Heights

$27,000,000

$2,783/SQ. FT.

6 bed/8.5 bath

9,702 SQ. FT.

2833 Vallejo St | Pacific Heights   $17,000,000   $2,810/SQ. FT.  4 bed/6.5 bath  6,050 SQ. FT.

2833 Vallejo St | Pacific Heights

$17,000,000

$2,810/SQ. FT.

4 bed/6.5 bath

6,050 SQ. FT.

3001 Pacific Ave | Pacific Heights   $15,850,000   $1,162/SQ. FT.  8 bed/6.5 bath  13,643 SQ. FT.

3001 Pacific Ave | Pacific Heights

$15,850,000

$1,162/SQ. FT.

8 bed/6.5 bath

13,643 SQ. FT.

2324 Pacific Ave | Pacific Heights   $14,000,000   $1,236/SQ. FT.  8 bed/8.5 bath  11,328 SQ. FT.

2324 Pacific Ave | Pacific Heights

$14,000,000

$1,236/SQ. FT.

8 bed/8.5 bath

11,328 SQ. FT.

2714 Pacific Ave | Pacific Heights   $11,900,000   $2,414/SQ. FT.  4 bed/4.5 bath  4,930 SQ. FT.

2714 Pacific Ave | Pacific Heights

$11,900,000

$2,414/SQ. FT.

4 bed/4.5 bath

4,930 SQ. FT.

 

Top Five Sales: Condominiums / TIC’s / Coop’s

1731 Powell St #502 | North Beach   $6,800,000   $3,215/SQ. FT.  3 bed/3.5 bath  2,115 SQ. FT.

1731 Powell St #502 | North Beach

$6,800,000

$3,215/SQ. FT.

3 bed/3.5 bath

2,115 SQ. FT.

1450 Post St #306 | Presidio Heights   $6,253,000   4 bed/3.5 bath

1450 Post St #306 | Presidio Heights

$6,253,000

4 bed/3.5 bath

1650 Broadway #PH1 | Pacific Heights   $5,600,000   $2,932/SQ. FT.  3 bed/2.5 bath  1,910 SQ. FT.

1650 Broadway #PH1 | Pacific Heights

$5,600,000

$2,932/SQ. FT.

3 bed/2.5 bath

1,910 SQ. FT.

2127 Broadway St #6 | Pacific Heights   $5,500,000   $2,004/SQ. FT.  3 bed/3.5 bath  2,745 SQ. FT.

2127 Broadway St #6 | Pacific Heights

$5,500,000

$2,004/SQ. FT.

3 bed/3.5 bath

2,745 SQ. FT.

1925 Gough St #22 | Pacific Heights   $5,200,000   $1,211/SQ. FT.  4 bed/3.5 bath  4,295 SQ. FT.

1925 Gough St #22 | Pacific Heights

$5,200,000

$1,211/SQ. FT.

4 bed/3.5 bath

4,295 SQ. FT.