san francisco market update | q1 2014

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

San Francisco Market UpdateFirst Quarter 2014

San FranciSco Brokerage

117 greenwich Street

San Francisco, ca 94111

t. 415.901.1700

sothebyshomes.com

San Francisco, ca | web: 0086132Photography by Jacob elliott

http://www.sothebyshomes.com/San-Francisco-Real-Estate


Source: SFARMLS - January 1-March 31 each year.

Source: SFARMLS - January 1-March 31 each year.

2010 2011 2012 2013 2014

San FranciSco (ToTal) 467 500 535 497 442

DiSTricT 4 58 52 55 64 62

DiSTricT 5 63 66 72 72 69

DiSTricT 6 9 5 10 6 12

DiSTricTS 7 anD 8 25 25 28 23 22

DiSTricT 9 41 43 46 54 37

2010 2011 2012 2013 2014

San FranciSco (ToTal) 486 577 608 633 639

DiSTricT 4 7 12 14 12 15

DiSTricT 5 75 91 84 93 106

DiSTricT 6 42 46 56 65 67

DiSTricTS 7 anD 8 141 160 197 179 178

DiSTricT 9 155 189 174 211 230

2014 is off to a positive start with a robust first quarter for San Francisco real estate sales compared to the first quarter of 2013 according to the San Francisco Multiple Listing Service. Average sales prices for single-family homes (SFH) jumped 20.3 percent across the City, however the total number of transactions was down due to a severe shortage of available inventory. Condominium sales prices followed the same upward trend, with a 17.1 percent increase in average sales prices.

This market has been great for sellers, with many listings receiving multiple offers over the asking price and all-cash offers now a common occurrence. The continuing shortage of inventory of SFH is leading more buyers to reconsider districts or purchase condominiums instead. The total number of condominium sales slightly increased throughout the City and the average condominium sales price exceeded the $1 million mark in Districts 5, 7, 8 and 9.

SAn FrAnCiSCo BrokerAge | sothebyshomes.com/sanfrancisco

117 greenwich Street | San Francisco, CA 94111 | t. 415.901.1700

q1 ToTAL CLoSeD SALeS (SFH)

q1 ToTAL CLoSeD SALeS (ConDoS)

A MeSSAge FroM oUr MAnAger:

Jeffrey g. gibson

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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.

http://www.sirsanfranciscomanager.com/

Telegraph hillWeb iD: 0086505 | $6,250,000

This bespoke, Bay view penthouse

features rare finishes, 3bd/3.5ba

and seven terraces.

gregg Lynn | 415.901.1780

Twin peakSWeb iD: 0086657 | $2,195,000

Sleek and sophisticated designer view

flats. 2bd/2ba each, plus view. 1bd

bonus apartment. Decks and 2 car garage.

Thomas Biss | 415.901.1776

pine lake parkWeb iD: 0086605 | $1,350,000

grand scale 4bd/2.5ba home

with sauna, deck and garden.

Approximately 2,933 sq.ft.

grazia Bennett | 415.294.4244

featured properties




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 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.

Single Family homeS | Q1 2010 2011 2012 2013 2014 % change(2014 v 2013)

AverAge LiST PriCe $995,601 $889,055 $871,634 $1,080,119 $1,161,003 7.5%

AverAge SoLD PriCe $994,638 $892,997 $863,793 $1,159,538 $1,286,827 11%

AverAge DAyS on MArkeT 70 68 65 36 32 -11.9%

ToTAL SFH SoLD 58 52 55 64 62 -3.1%

DiSTriCT 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2010 2011 2012 2013 2014

San Francisco District 4

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http://www.sothebyshomes.com/Los-Angeles-Real-Estate




5

CONDOMINIUM SALES


q1 MArkeT overvieW average sales prices in district 4 continued to climb in the first quarter of 2014, compared to first quarter of 2013.

the average sales price of SFh increased by 11 percent, from $1,159,538 to $1,286,827. condominium sales prices

increased by 22.4 percent and the average price per square foot jumped 25.4 percent, from $458.30 to $574.87. the

total number of closed SFh sales declined by three percent, from 64 sold units in 2013 to 62 units in 2014. the total

number of closed condominium sales increased from 12 sold units in 2013 to 15 units in 2014. the average days on

market dropped markedly for both SFh and condominiums - SFh saw a 11.9 percent decline and condominiums saw a

56.2 percent decrease.

conDominiumS | Q1 2010 2011 2012 2013 2014 % change(2014 v 2013)

AverAge LiST PriCe $505,979 $385,862 $419,236 $485,490 $595,733 22.7%

AverAge SoLD PriCe $490,000 $376,587 $408,539 $509,606 $623,933 22.4%


ToTAL ConDoS SoLD 7 12 14 12 15 25%

DiSTriCT 4

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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014


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6




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.


AverAge LiST PriCe $1,432,318 $1,481,464 $1,560,067 $1,735,429 $2,074,696 19.6%

AverAge SoLD PriCe $1,429,519 $1,445,359 $1,572,205 $1,807,085 $2,278,874 26.1%


ToTAL SFH SoLD 63 66 72 72 69 -4.2%

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2010 2011 2012 2013 2014


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7

CONDOMINIUM SALES


DiSTriCT 5

q1 MArkeT overvieW average sales prices in district 5 increased significantly in the first quarter of 2014 compared to the first quarter of 2013.

the average sales price of SFh jumped 26.1 percent, an increase of $471,788 from 2013. the average condominium sales

price increased significantly from $900,531 in 2013 to $1,101,524 in 2014. the shortage of inventory resulted in a decline

in the total number of closed sales of both SFh and condominiums. SFh closed sales decreased by 4.2 percent and

condominium closed sales decreased by 14 percent. the average days on market of SFh decreased from 39 days in 2013

to 27 days in 2014, while the average days on market for condominium sales dropped from 48 to 27 in year-over-year

comparisons.


AverAge LiST PriCe $787,131 $773,448 $865,389 $836,464 $1,000,761 19.6%

AverAge SoLD PriCe $782,654 $768,453 $878,260 $900,531 $1,101,524 22.3%



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2010 2011 2012 2013 2014


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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 LiST PriCe $1,281,444 $1,423,990 $1,175,400 $2,423,667 $1,991,833 -17.8%

AverAge SoLD PriCe $1,285,883 $1,471,590 $1,163,000 $2,390,833 $2,067,052 -13.5%


ToTAL SFH SoLD 9 5 10 6 12 100%

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$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2010 2011 2012 2013 2014


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9

CONDOMINIUM SALES


DiSTriCT 6

q1 MArkeT overvieW SFh in district 6 saw a drop in the average sales price, while condominiums continued to see an increase in average sales

prices in the first quarter of 2014. the average sales price of SFh decreased by 13.5 percent, from $2,390,833 in 2013 to

$2,067,052 in 2014. average sales prices of condominiums increased by 16.6 percent, from $735,851 in 2013 to $858,047

in 2014. SFh closed sales increased from 6 sales in 2013 to 12 in 2014, while the number of condominium closed sales

increased from 65 sales in 2013 to 67 in 2014. the average days on market of SFh declined 8.1 percent, from 54 days in

2013 to 49 days in 2014. the average days on market of condominium sales increased from 43 days in 2013 to 51 days in

2014.



AverAge SoLD PriCe $639,183 $621,228 $667,729 $735,851 $858,047 16.6%

AverAge DAyS on MArkeT 72 95 80 43 51 19.2%

ToTAL ConDoS SoLD 42 46 56 65 67 3.1%

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2010 2011 2012 2013 2014


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10




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.


AverAge LiST PriCe $3,333,180 $3,407,880 $3,939,830 $4,041,261 $4,508,136 11.6%

AverAge SoLD PriCe $3,190,835 $3,249,780 $3,753,589 $3,923,000 $4,488,955 14.4%


ToTAL SFH SoLD 25 25 28 23 22 -4.4%

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$2,000,000

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$3,000,000

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$4,000,000

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$5,000,000

2010 2011 2012 2013 2014

San Francisco Districts 7 & 8

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CONDOMINIUM SALES


DiSTriCTS 7 and 8

q1 MArkeT overvieW SFh and condominiums in districts 7 and 8 continued to see an increase in average sales prices in the first quarter of

2014. the average sales price of SFh increased by 14.4 percent and average condominium sales prices increased by 17.5

percent. the number of closed sales of SFh decreased by 4.3 percent, while the number of closed sales of condominiums

was flat. the average days on market dropped significantly for both single-family homes and condominiums. SFh saw a

69.7 percent drop in days on market in 2014, from 59 days in 2013 to 18 in 2014. the average days on market decreased

by 19 percent for condominiums, from 52 days in 2013 to 43 days in 2014.


AverAge LiST PriCe $911,263 $905,495 $868,097 $1,059,758 $1,228,917 16%

AverAge SoLD PriCe $891,328 $869,126 $860,665 $1,075,525 $1,264,086 17.5%

AverAge DAyS on MArkeT 81 92 87 52 43 -19%

ToTAL ConDoS SoLD 141 160 197 179 178 -0.6%

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12




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 $717,055 $794,036 $716,002 $839,914 $1,090,014 29.8%



ToTAL SFH SoLD 41 43 46 54 37 -31.5%

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2010 2011 2012 2013 2014







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CONDOMINIUM SALES


DiSTriCT 9

q1 MArkeT overvieW condominiums in district 9 experienced positive market trends in the first quarter of 2014, with increases in both sales

prices and closed sales. SFh in district 9 saw a 33.9 percent jump in the average sales price, from $921,231 in 2013

to $1,233,754 in 2014. the average sales price of condominiums increased by 9.6 percent, from $912,895 in 2013 to

$1,000,487 in 2014. the number of SFh closed sales decreased by 31.5 percent and the number of condominium closed

sales increased by nine percent. the average days on market of SFh dropped 5.3 percent - from 42 days in 2013 to 39 in

2014. the average days on market of condominiums declined by 22 percent in year-over-year comparisons- from 43 days

in 2013 to 34 in 2014.




AverAge DAyS on MArkeT 87 83 82 43 34 -22%


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Auction & Exhibition Calendar 2014

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san francisco market update | q1 2014

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