dean f. badessa san francisco market update | q2 2015

All data within this document is pulled from the San Francisco MLS.

San Francisco Market UpdateSecond Quarter 2015

Dean F. BadessaSAN FRANCISCO BROKERAGE

117 Greenwich Street

San Francisco, CA 94111

t. 415.901.1715 | c. 415.4745140

sothebyshomes.com

San Francisco, CA

Source: SFARMLS - April 1-June 30 each year.

2011 2012 2013 2014 2015

SAN FRANCISCO (TOTAL) 685 725 745 608 618

DISTRICT 1 66 65 70 57 66

DISTRICT 4 98 110 89 73 90

DISTRICT 5 98 112 111 86 83

DISTRICT 6 11 14 11 11 8

DISTRICTS 7 AND 8 37 48 55 42 37

DISTRICT 9 65 59 87 54 62

A MESSAGE FROM: DEAN F. BADESSA

Not unlike the water drought affecting California, the San Francisco real estate market continued to endure an inventory drought in the second quarter of 2015, according to an analysis of data from the San Francisco Multiple Listing Service. In Q2 2015, total sales for condominiums fell from 882 in Q2 2014 to 828 in Q2 2015, a 6.1% drop. Sales for single-family homes remained relatively flat in Q2 2015. Low inventory throughout the city has hastened buyers to act quickly. Considering that in Q2 2011, a single-family home stayed on the market an average of 63 days, that average has steadily decreased in the last five years. In Q2 2015, the average days on market for a single-family home fell to a mere 24 days; a 17.2% decrease from Q2 2014 and a staggering 61.9% drop since Q2 2011.

The heightened pace and competition in the market also drove up prices in many districts. This momentum was especially evident in Districts 7 and 8, as the average price-per-square-foot for a single-family home increased from $1,228-per-square-foot in Q2 2014 to $1,505-per-square-foot in Q2 2015, a 22.5% jump. Condominiums in Districts 7 and 8 also saw a 19.3% increase in average price-per-square-foot, growing from $967-per-square-foot in Q2 2014 to $1,154-per-square-foot in Q2 2015.

Q2 TOTAL CLOSED SALES (SINGLE FAMILY HOMES)

Q2 TOTAL CLOSED SALES (CONDOS)

Dean F. Badessa

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

2011 2012 2013 2014 2015

SAN FRANCISCO (TOTAL) 734 934 961 882 828

DISTRICT 1 35 54 39 48 38

DISTRICT 4 17 18 19 17 14

DISTRICT 5 122 127 154 132 160

DISTRICT 6 71 93 96 74 72

DISTRICTS 7 AND 8 211 287 279 238 191

DISTRICT 9 232 295 325 334 307

Source: SFARMLS - April 1-June 30 each year.

SAN FRANCISCO BROKERAGE 117 Greenwich StreetSan Francisco, CA 94111 t. 415.901.1715 | c. 415.474.5140

sothebyshomes.com/sanfrancisco

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TELEGRAPH HILLIdeally situated on the famed Filbert Steps,

near Coit Tower, 341 Filbert Street is a superb

example of bespoke design. This amazing 4

level townhome, with private elevator, offers

views from every floor and a panoramic roof

deck with arguably the best views from all of

Telegraph Hill.

341 Filbert Street

Represented Buyer

Listing Price: $5,500,000

Sale Price: $5,500,000

Dean F. Badessa | 415.474.5140

FEATURED PROPERTY

4

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

ABOUT DISTRICT 1Also known as the Richmond District, District 1 is nestled on

the Northwest corner of San Francisco. Home to many distinct

neighborhoods, including Jordan Park, Lake, Laurel Heights, Outer

Richmond, Central Richmond, Inner Richmond, and Sea Cliff, the

district borders both the Golden Gate Park and the Pacific Ocean. In

District 1, residents and visitors alike can enjoy some fun in the park,

or sit back and gaze upon the vast ocean.

SINGLE FAMILY HOMES | Q2 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $1,202,176 $1,339,816 $1,582,162 $1,607,000 $1,804,831 12.3%

AVERAGE SOLD PRICE $1,196,923 $1,414,815 $1,717,171 $1,838,249 $2,152,465 17.1%

AVERAGE DAYS ON MARKET 59 48 37 19 16 -15.1%

TOTAL SINGLE FAMILY HOMES SOLD 66 65 70 57 66 15.8%

DISTRICT 1

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2011 2012 2013 2014 2015

San Francisco District 1

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30

40

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60

70

2011 2012 2013 2014 2015


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CONDOMINIUM SALES


Q2 MARKET OVERVIEW Prices continued climb in District 1, staying well above the citywide average in Q2 2015. The average sales price for

a single-family home rose 17.1%, from $1,838,249 in Q2 2014 to $2,152,465 in Q2 2015. Condominiums also saw the

average sales price increase, from $1,034,760 in Q2 2014 to $1,155,718 in Q2 2015. While prices grew, buyers across

the district were quick to close deals on both single-family homes and condominiums. A single-family home spent an

average of 16 days on the market in Q2 2015, down from 19 days in Q2 2014. Condominiums also closed in less than a

month, falling from an average of 38 days in Q2 2014 to 26 days in Q2 2015. Inventory issues contributed to a decrease

in total sales for condominiums, which decreased 20.8% in Q2 2015, from 48 units sold in Q2 2014 to 38 units in Q2

2015. However, single-family homes rebounded back to 66 units sold in Q2 2015, after it had descended to 57 units in

Q2 2014.

CONDOMINIUMS | Q2 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $753,199 $748,453 $833,478 $958,906 $1,038,921 8.3%

AVERAGE SOLD PRICE $739,486 $765,961 $889,487 $1,034,760 $1,155,718 11.7%


TOTAL CONDOS SOLD 35 54 39 48 38 -20.8%

DISTRICT 1

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2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


6




ABOUT DISTRICT 4 District 4, also referred to as West of Twin Peaks is located in a

heavily wooded and picturesque area of San Francisco. District 4

encompasses 16 neighborhoods: Balboa Terrace, Diamond Heights,

Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace,

Midtown Terrace, Miraloma Park, Monterey Heights, Mount Davidson

Manor, Sherwood Forest, St. Francis Wood, Sunnyside, West Portal,

Westwood Highlands and Westwood Park.

DISTRICT 4


AVERAGE LIST PRICE $900,672 $990,350 $1,121,938 $1,270,718 $1,430,670 12.6%

AVERAGE SOLD PRICE $910,134 $1,025,727 $1,249,635 $1,452,914 $1,675,889 15.3%



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2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

2011 2012 2013 2014 2015


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CONDOMINIUM SALES


Q2 MARKET OVERVIEW Buyers in District 4 found the available inventory moving in separate directions in Q2 2015. While total sales for single

family homes were up to 90 units in Q2 2015, a 23.3% jump from the 73 units in Q2 2014, condominiums were at the

lowest seen since Q2 2011, with 14 units sold in Q2 2015, a 17.6% decline from Q2 2014. Despite the differences, buyers

swarmed at any available listing, leading to the average sales price to climb. The average sales price for condominiums

rose 30%, going from $612,831 in Q2 2014 to $796,929 in Q2 2015; and the average price for single-family homes

grew from $1,452,914 in Q2 2014 to $1,675,889 in Q2 2015. While the average time a single-family home stayed on the

market fell to 19 days in Q2 2015, District 4 was one of the few areas in the city that saw an increase in the average days

a condominium stayed on the market. After seeing a low average of 23 days in Q2 2014, the average days on market

jumped to 35 days.


AVERAGE LIST PRICE $426,688 $403,832 $484,437 $551,281 $715,336 29.8%

AVERAGE SOLD PRICE $413,176 $403,586 $533,632 $612,831 $796,929 30.0%

AVERAGE DAYS ON MARKET 122 116 64 23 35 53.2%


DISTRICT 4

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140

2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


8




DISTRICT 5

ABOUT DISTRICT 5 District 5, commonly known as the Central District, is in the

geographic center of San Francisco. The sunny region, with its charm

and vitality, is popular with both tourists and residents. The district

is home to the neighborhoods of Ashbury Heights, Buena Vista Park,

Clarendon Heights, Corona Heights, Cole Valley, Castro, Dolores

Heights, Duboce Triangle, Glen Park, Haight Ashbury, Noe Valley, Twin

Peaks and Mission Dolores.





TOTAL SINGLE FAMILY HOMES SOLD 98 112 111 86 83 -3.5%

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015


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CONDOMINIUM SALES


DISTRICT 5

Q2 MARKET OVERVIEW Since Q2 2011, total sales in District 5 for a single-family home have been in decline, while condominiums have been

on the rise. A low supply of single-family homes brought total sales down to 83 units in Q2 2015, a 3.5% decrease

compared to Q2 2014. Buyers in the district have been shifting over to condominiums, going from 132 units sold in

Q2 2014 to 160 units sold in Q2 2015, a 21.2% increase year-over-year. These shifts in total sales did not affect the

demand for listings in the district, as the average sales prices in Q2 2015 continued to go up. Single-family homes in

Q2 2015 sold at an average of $2,466,914, a 15.7% increase compared to Q2 2014; and condominiums also saw the

average sales price leap 16.2% from Q2 2014 to Q2 2015. As buyers were paying more for listings, they also took less

time to close those deals, as the average days on market fell to 19 days for a single-family home and 20 days for a

condominium.





TOTAL CONDOS SOLD 122 127 154 132 160 21.2%

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2011 2012 2013 2014 2015


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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


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DISTRICT 6

ABOUT DISTRICT 6 District 6, also referred to as the Central North, is a vibrant area with

easy access to public transportation, trendy boutiques, excellent

restaurants and gorgeous City views. The neighborhoods that

encompass District 6 include Alamo Square, Hayes Valley, Western

Addition, Lower Pacific Heights, Anza Vista and North Panhandle

(NoPa). Homes vary from stunning mansions and Victorian houses to

quaint single family homes and chic condominiums.



AVERAGE SOLD PRICE $1,549,273 $2,096,214 $2,149,284 $2,412,476 $2,397,000 -0.6%



$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015


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CONDOMINIUM SALES


DISTRICT 6

Q2 MARKET OVERVIEW Throughout most of the city, the average sales price for a single-family home climbed and the average days they were

out in the market fell. Those trends were not reflected in District 6, as the average sales price for a single-family home

remained flat, seeing a minor 0.6% decrease from Q2 2014 to Q2 2015. Also bucking trends, the average days on

market for a single-family home moved up closer to month, at 29 days in Q2 2015, climbing 36.9% compared to a low

21 days in Q2 2014. However, condominiums fell in line with the rest of the city; the average sales price grew 14.8% from

Q2 2014 to Q2 2015, and the average days on market were reduced from 34 days in Q2 2014 to 27 days in Q2 2015.

Inventory was in short supply in the district in Q2 2015. Total sales of single-family homes fell to 8 units in Q2 2015, the

lowest Q2 total seen in years. Condominiums also experienced a 2.7% dip in total sales, with 72 units sold in Q2 2015

compared to Q2 2014.



AVERAGE SOLD PRICE $657,503 $698,829 $853,147 $985,259 $1,130,861 14.8%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015


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DISTRICTS 7 and 8

ABOUT DISTRICTS 7 and 8 Districts 7 and 8 host some of the most impressive homes in the

city. District 7 includes Cow Hollow, the Marina, Pacific Heights and

Presidio Heights neighborhoods. The Golden Gate Bridge and the San

Francisco Bay are to the north and downtown is to the east, making

it ideal for both work and recreation. District 8 includes the business

and financial center of San Francisco and serves as a popular tourist

destination. Residential neighborhoods include North Beach, Russian

Hill, Nob Hill, Telegraph Hill and North Waterfront.






$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

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2011 2012 2013 2014 2015


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CONDOMINIUM SALES


DISTRICTS 7 and 8

Q2 MARKET OVERVIEW In Q2 2015, the inventory shortage was on full display in District 7 and 8, affecting nearly every facet of that market.

Total sales were down in the district; single-family homes fell to 37 units sold in Q2 2015, an 11.9% decline from Q2 2014

and the lowest that number has been since Q2 2011; condominiums also dropped, going from 238 units in Q2 2014 to

191 units in Q2 2015. Low sales totals could have helped both districts claim one of the highest average sale prices for

a single-family home in the city, at $6,271,265 in Q2 2015, a 37.6% increase compared to Q2 2014. The average sales

price for a condominium also rose to $1,669,345 in Q2 2015. Buyers were especially eager to obtain listings, shortening

the average time a listing spent on the market. Single-family homes saw the sharpest decrease, which plunged from an

average of 53 days in Q2 2014 to 19 days in Q2 2015.


AVERAGE LIST PRICE $1,030,963 $974,917 $1,122,903 $1,362,375 $1,583,175 16.2%

AVERAGE SOLD PRICE $1,004,606 $977,506 $1,167,004 $1,429,348 $1,669,345 16.8%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015


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DISTRICT 9

ABOUT DISTRICT 9 District 9, the central-eastern portion of San Francisco includes the

neighborhoods Bernal Heights, the Central Waterfront/Dogpatch,

Inner Mission, Mission Bay, Potrero Hill, South Beach and South of

Market (SoMa). The area includes some of the oldest homes in San

Francisco, having escaped the 1906 earthquake and fire destruction.

District 9’s real estate includes cottages, bungalows and single-family

homes in Bernal Heights and Potrero Hill, and warehouse-converted

lofts and condominiums in SoMa, South Beach and Yerba Buena.


AVERAGE LIST PRICE $804,598 $780,688 $1,000,038 $1,014,239 $1,296,380 27.8%

AVERAGE SOLD PRICE $805,892 $827,454 $1,119,346 $1,208,461 $1,584,686 31.1%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015


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CONDOMINIUM SALES


DISTRICT 9

Q2 MARKET OVERVIEW In Q2 2015, demand for a single-family home in District 9 remained competitive. Total sales for a single-family home

increased 14.8%, from 54 units in Q2 2014 to 62 units in Q2 2015. Sellers who chose to bring a single-family home

into the market during Q2 2015 were rewarded with an average sales price that leaped from $1,208,461 in Q2 2014 to

$1,584,686, a 31.1% growth; and a shorter timeframe to close, with deals closing an average of 20 days in Q2 2015.

Like single-family homes in the district, condominiums also experienced an increase in average sales price, increasing

from $1,104,714 in Q2 2014 to $1,267,712 in Q2 2015, a 14.8% growth. However, in contrast to single-family homes in the

district, the total number of condominiums sold fell from 334 units in Q2 2014 to 307 units in Q2 2015, and the average

days on market increased to 30 days, a 9.6% climb from Q2 2014 to Q2 2015.


AVERAGE LIST PRICE $747,928 $743,161 $898,150 $1,045,538 $1,194,696 14.3%




$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


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Contemporary Art Day Auction London 02 July

Medieval And Renaissance Manuscripts London 07 July

Treasures London 08 July

Old Master & British Drawings London 08 July

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Old Master & British Paintings Evening Sale London 08 July

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dean f. badessa san francisco market update | q2 2015

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