MARKET UPDATE | Q4 2013 SAN FRANCISCO Q4 total CLOSED SALES (SFH) 760 740 720 700 680 660 640 620 600 580 560 540
2009
A MESSAGE FROM OUR MANAGER: JEFFREY GIBSON The fourth quarter of 2013 produced another strong quarter for San Francisco real estate sales compared to the fourth quarter of 2012 according to the San Francisco Multiple Listing Service. Prices continued to increase throughout the City, with average sales prices for singlefamily homes (SFHs) up 7.6 percent and condominium sales prices up 11.2 percent. SFHs in particular continue to experience a shortage of inventory; the accompanying charts show a decline in the number of closed sales in five of the six districts. Condominium sales were up in Districts 6, 7, 8 and 9. District 9 was a hotspot in the fourth quarter, with an increase in sales of both condominiums and SFHs.
2010
2011
2012
2013
2009
2010
2011
2012
2013
San Francisco (Total)
649
615
665
736
679
District 4
84
70
84
110
92
District 5
82
92
92
107
92
District 6
25
10
7
19
13
Districts 7 and 8
32
32
38
57
45
District 9
67
66
58
51
69
Source: SFARMLS - October 1-December 31 each year.
Q4 Total CLOSED SALES (Condo) 900 800 700 600 500 400 300 200
Now that the Fed’s $85 billion bond buying has been reduced to $75 billion, it will be interesting to see how this will affect lending rates and whether that will have an influence on sales prices in this robust market.
SAN FRANCISCO Brokerage t: 415.901.1700 117 Greenwich Street San Francisco, CA 94111
100 0
2009
2010
2011
2009
2010
San Francisco (Total)
696
District 4
21
District 5
147
2012
2013
2011
2012
2013
554
595
796
839
14
8
15
14
96
102
131
121
District 6
70
52
59
84
100
Districts 7 and 8
201
170
183
222
226
District 9
184
162
182
265
299
Source: SFARMLS - October 1-December 31 each year.
DISTRICT 4
SINGLE FAMILY HOME SALES About District 4 District 4, also referred to as West of Twin Peaks is located in what used to be 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.
Average Days on Market
Monterey Heights Home
70 60 50 40 30 20 10
Sales Price: $1,545,000 Agent: Daria Saraf
0
2009
2010
2011
San Francisco
2012
2013
District 4
3 br / 3 ba Average sales price
This stately three bedroom, three bath Monterey Heights home offers open southern views of the lovely neighboring homes and distant hills. The classic floor plan creates a natural flow to the home for easy modern living.
$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
2009
2010
San Francisco
2011
2012
2013
District 4
District 4 single family homes (SFh) 2009
2010
2011
2012
2013
Average List Price
$990,738
$1,005,153
$870,248
$1,049,765
$1,122,029
Average Sales Price
$985,171
$990,396
$877,021
$1,081,658
$1,195,500
Average Days on Market
56
63
58
47
35
Total SFH Sold
83
70
84
110
92
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DISTRICT 4
CONDOMINIUM SALES district 4 market overview
Average sales prices in District 4 continued to climb in the fourth quarter of 2013, compared to the fourth quarter of 2012. The average sales price of SFHs increased by 10.5 percent, from $1,081,658 to $1,195,500. Condominium sales prices increased by 1.5 percent, and the average price per square foot jumped 11.3 percent, from $485.68 to $540.66. The total number of closed SFH sales declined by 16 percent, from 110 sold units in 2012 to 92 units in 2013. The total number of closed condominium sales changed from 15 sold units in 2012 to 14 units in 2013. The average days on market dropped markedly for both SFHs and condominiums - SFHs saw a 22.1 percent decline and condominiums saw a 29.9 percent decrease.
Average Days on Market
Mid-Century View Home
100 90 80 70 60 50 40 30 20 10
Sales Price: $1,950,000 Agent: Amanda Jones
0
2009
2010
2011
2012
San Francisco
3 br / 3 ba
2013
District 4
Average sales price
Spectacular, renovated mid-century view home located on the border of St. Francis Wood and Sherwood Forest. This home is perched above it all taking in lots of light and magnificent ocean views from all levels including the yard and basement. With soaring ceilings, floor to ceiling windows, ocean views and two wood-burning fireplaces, this is an entertainer’s dream.
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2009
2010
2011
San Francisco
2012
2013
District 4
district 4 condominiums 2009
2010
2011
2012
2013
Average List Price
$519,552
$543,079
$393,000
$461,427
$468,060
Average Sales Price
$517,747
$527,179
$393,875
$475,367
$482,596
Average Days on Market
67
92
62
76
53
Total Condominiums Sold
21
14
8
15
14
DISTRICT 5
SINGLE FAMILY HOME SALES 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. District 5 properties experienced some of the strongest growth in prices in 2013.
Average Days on Market
Noe Valley Renovation
70 60 50 40 30 20 10
Sales Price: $3,225,000 Agents: Jon Taylor & Gloria Smith
0
2009
2010
2011
San Francisco
3 br / 3.5 ba
2012
2013
District 5
Average sales price
1612 Church showcases the sophistication and allure of contemporary design. The façade’s expansive walls of glass and modern lines announce the aesthetic that awaits inside. A stunning 30-foot-high entry with a steel and glass staircase introduces each level. A spacious media/family room has built-in cabinetry with wet bar, full bath and opens through sliding glass doors to a walled-in private patio with built-in seating and a ribbon flame outdoor fireplace.
$2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
2009
2010
San Francisco
2011
2012
2013
District 5
District 5 single family homes (SFh) 2009
2010
2011
2012
2013
Average List Price
$1,219,926
$1,447,021
$1,382,486
$1,469,944
$1,761,042
Average Sales Price
$1,216,919
$1,438,216
$1,383,789
$1,547,670
$1,864,321
Average Days on Market
59
56
57
36
33
Total SFH Sold
82
92
92
107
92
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DISTRICT 5
CONDOMINIUM SALES district 5 market overview
Average sales prices in District 5 increased significantly in the fourth quarter of 2013 compared to the fourth quarter of 2012. The average sales price of SFHs jumped 20.5 percent, an increase of $316,651 from 2012. The average condominium sales price exceeded the $1,000,000 mark, from $851,196 in 2012 to $1,071,095 in 2013. The shortage of inventory resulted in a decline in total number of closed sales of both SFHs and condominiums. SFH closed sales decreased by 14 percent and condominium closed sales decreased by 7.6 percent. The average days on market of SFHs declined by 10 percent, while the average days on market for condominium sales dropped 22 percent in year-over-year comparisons.
Average Days on Market
Ashbury Heights Condominium
100 90 80 70 60 50 40 30 20 10
Sales Price: $1,375,000 Agent: Paul Ybarbo
0
2009
2010
2011
2012
San Francisco
3 br / 2.5 ba
2013
District 5
Average sales price
Enjoy an outstanding location adjacent to the boutiques and bistros of Cole Valley, Buena Vista Park and the colorful Haight from this refined, full floor condo in a gorgeous Beaux Arts-style building. This updated flat boasts tasteful designer finishes and architectural craftsmanship of a bygone era. Consistent with this era of construction, all rooms are generously proportioned.
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2009
2010
2011
2012
San Francisco
2013
District 5
district 5 condominiums 2009
2010
2011
2012
2013
Average List Price
$723,992
$821,996
$768,415
$803,437
$976,641
Average Sales Price
$720,315
$815,286
$764,314
$851,196
$1,071,095
Average Days on Market
79
80
77
48
37
Total Condominiums Sold
147
96
102
131
121
DISTRICT 6
SINGLE FAMILY HOME SALES 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 Days on Market
Fell Street on the Park
80 70 60 50 40 30 20 10
Sales Price: $395,000 Agent: Amanda Jones
0
2009
2010
2011
San Francisco
1 br / ba
2012
2013
District 6
Average sales price
This charming, top floor Edwardian home is part of a community residing in a unique turn of the century, converted mansion. The building sits on a double lot and an opulent entrance hall with a grand staircase and a private garden oasis in the rear. It has a fabulous central location directly across from the Panhandle of Golden Gate Park and just minutes away from the Haight, Cole Valley, Lone Mountain and USF.
$2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
2009
2010
San Francisco
2011
2012
2013
District 6
district 6 single family homes (SFh) 2009
2010
2011
2012
2013
Average List Price
$1,262,016
$1,260,490
$1,703,857
$1,652,211
$1,755,923
Average Sales Price
$1,250,200
$1,209,500
$1,704,057
$1,698,895
$1,888,385
Average Days on Market
60
75
66
36
26
Total SFH Sold
25
10
7
19
13
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DISTRICT 6
CONDOMINIUM SALES district 6 market overview
SFHs and condominium in District 6 continued to see an increase in average sales prices in the fourth quarter of 2013. The average sales price of SFHs increased by 11.2 percent, from $1,698,895 in 2012 to $1,888,385 in 2013. Average sales price of condominiums increased by 15.8 percent, from $718,443 in 2012 to $831,735 in 2013. SFHs closed sales declined by 31.6 percent while the number of condominium closed sales increased by 19.1 percent. The average days on market of SFHs declined 26.6 percent, from 36 days in 2012 to 26 days in 2013. Condominiums are selling at a much faster rate in year-over-year comparisons- from an average of 64 days on market in 2012 to an average of 29 days on market in 2013, which is a 54.7 percent drop.
Average Days on Market
Penthouse in NOPA
100 90 80 70 60 50 40 30 20 10
Sales Price: $875,000 Agent: Mary Laughlin Fenton
0
2009
2010
2011
2012
San Francisco
2 br / 2 ba
2013
District 6
Average sales price
This condo in a newer 3-unit building offers many luxuries in a highly sought location. French doors open directly onto a large deck with partial views. Skylights infuse light throughout. It features custom granite counters with breakfast bar, stainless steel appliances including gas range and ventahood microwave and hardwood floors.
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2009
2010
2011
2012
San Francisco
2013
District 6
district 6 condominiums 2009
2010
2011
2012
2013
Average List Price
$639,634
$647,008
$648,249
$690,084
$782,040
Average Sales Price
$629,607
$633,616
$649,085
$718,443
$831,735
Average Days on Market
59
68
69
64
29
Total Condominiums Sold
70
52
59
84
100
DISTRICTS 7 AND 8
SINGLE FAMILY HOME SALES About Districts 7 AND 8 Districts 7 and 8 host some of the most prestigious 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, which 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 Days on Market
Golden Gate View Home
90 80 70 60 50 40 30 20 10
Sales Price: $7,500,000 Agent: Janet Feinberg Schindler
0
2009
2010
San Francisco
6 br / 4.5 ba
2011
2012
2013
Districts 7 & 8
Average sales price
East meets west in this Zen-inspired, contemporary renovation of a classic Edwardian 6-bedroom, 4.5-bath home featuring spectacular Golden Gate views. Excellent location. The elegant main level has gracious formal rooms, exceptional architectural detail and a floor plan ideal for entertaining: French doors open to the deck and award-winning garden. Private Sale.
$5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-
2009
2010
San Francisco
2011
2012
2013
Districts 7 & 8
districts 7&8 single family homes (SFh) 2009
2010
2011
2012
2013
Average List Price
$3,547,295
$3,061,747
$3,978,059
$4,456,228
$4,285,031
Average Sales Price
$3,462,275
$3,036,891
$3,777,430
$4,332,079
$4,316,067
Average Days on Market
84
73
59
53
45
Total SFH Sold
32
32
38
57
45
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DISTRICTS 7 AND 8
CONDOMINIUM SALES districts 7 and 8 market overview
Average sales prices of SFHs remained fairly consistent, from $4,332,079 in 2012 to $4,316,067 in 2013. The average sales price of condominiums in Districts 7 and 8 increased by 9.1 percent in the fourth quarter of 2013, from $1,110,151 in 2012 to $1,210,598 in 2013. The number of closed sales of SFHs decreased by 21.1 percent, while the number of closed sales of condominiums increased by 1.8 percent. The average days on market dropped significantly for both single-family homes and condominiums. SFHs saw an average of 45 days on market in 2013, a 15 percent decline from 2012. The average days on market decreased by 20.8 percent for condominiums, from 56 days in 2012 to 44 days in 2013.
Average Days on Market
Russian Hill Cooperative
100 90 80 70 60 50 40 30 20 10
Price: $4,995,000 Agents: Richard Bastoni and Jeffrey Wahl
0
2009
2010
2011
2012
San Francisco
2 br / 2 ba | 1 br / 1 ba
2013
Districts 7 & 8
Average sales price
Two apartments being sold together with dramatic views of the North Bay, Alcatraz, downtown and Coit Tower. Apartment 805: spacious northeast corner living room with deck and fireplace, a kitchen which opens to a dining room, beautiful panelled library with views. Apartment 804: 1 bedroom with a wet bar, powder room and deck with views.
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2009
2010
San Francisco
2011
2012
2013
Districts 7 & 8
districts 7&8 condominiums 2009
2010
2011
2012
2013
Average List Price
$920,190
$932,139
$880,693
$1,109,972
$1,183,534
Average Sales Price
$897,968
$902,369
$859,102
$1,110,151
$1,210,598
Average Days on Market
90
87
90
56
44
Total Condominiums Sold
201
170
183
222
226
DISTRICT 9
SINGLE FAMILY HOME SALES 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 Days on Market
200 Brannan Loft
70 60 50 40 30 20 10
Sales Price: $1,300,000 Agent: Eric Johnson
0
2009
2010
2011
San Francisco
2 br / 2 ba
2012
2013
District 9
Average sales price
Perched above the trees, this stunning 2+ bedroom, 2 bath residence at 200 Brannan Lofts features a grand living room with 18foot high ceilings. The upstairs bonus room is perfect for use as a media room/lounge/ office. The spacious master bedroom is fully enclosed and filled with light. The chef’s kitchen is outfitted with granite counters, a gas range and stainless steel appliances.
$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
2009
2010
San Francisco
2011
2012
2013
District 9
district 9 single family homes (SFh) 2009
2010
2011
2012
2013
Average List Price
$828,590
$805,180
$727,643
$875,138
$1,120,636
Average Sales Price
$829,501
$814,731
$756,364
$934,608
$1,265,595
Average Days on Market
62
55
52
41
27
Total SFH Sold
67
66
58
51
69
Serving san francisco, marin,the peninsula and east bay | sothebyshomes.com/sanfrancisco
DISTRICT 9
CONDOMINIUM SALES district 9 market overview
District 9 experienced positive market trends in the fourth quarter of 2013, with increases in both sales prices and closed sales of SFHs and condominiums. SFHs in District 9 saw a 35.4 percent jump in the average sales price, from $934,608 in 2012 to $1,265,595 in 2013. The average sales price of condominiums increased by 8.3 percent, from $908,471 in 2012 to $983,846 in 2013. The number of SFH closed sales increased by 35.3 percent and the number of condominium closed sales increased by 12.8 percent. The average days on market of SFHs dropped 35.6 percent - from 41 days in 2012 to 27 in 2013. The average days on market of condominiums declined by 26.3 percent in year-over-year comparisons- from 53 days in 2012 to 39 in 2013.
Average Days on Market
Panoramic Views at The St. Regis
100 90 80 70 60 50 40 30 20 10
Price: $2,800,000 Agent: Gregg Lynn
0
2009
2010
2011
2012
San Francisco
2 br / 2.5 ba
2013
District 9
Average sales price
The oversized door to #33C opens to a foyer of luxurious Venetian plaster and dark wood floors. In the living room, an upholstered accent wall highlights the custom designed finishes and furnishings. Oversized windows provide southern and western exposures with spectacular urban views. An open plan kitchen boasts Poggenpohl cabinetry, Kashmere Gold polished granite countertops and appliances by SubZero and Miele.
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2009
2010
2011
San Francisco
2012
2013
District 9
district 9 condominiums 2009
2010
2011
2012
2013
Average List Price
$712,836
$707,892
$879,026
$907,292
$957,431
Average Sales Price
$687,086
$689,914
$820,527
$908,471
$983,846
Average Days on Market
86
91
77
53
39
Total Condominiums Sold
181
162
182
265
299
ON THE MARKET FEATURED PROPERTIES
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE
San francisco, CA
in metropolitan markets
Spectacular Remodeled Home
Houston
Brooklyn
San Francisco
4 br / 4 ba / 2 hf ba $3,850,000
3 br / 2 ba / 1 hf ba $3,400,000
3 br / 2 ba / 1 hf ba $3,000,000
SANTA FE
PALM BEACH
Ojai
3 br / 4 ba / 1 hf ba $3,000,000
4 br / 4 ba / 1 hf ba $2,950,000
3 br / 3 ba $3,600,000
South Africa
Puerto Rico
Australia
$2,593,121
7 ba / 1 hf ba $3,600,000
3 br / 3 ba Price Upon Request
Price: $2,800,000 Agent: Louis Silcox Jr. 2+ br / 2.5 ba Spectacular Bay, Bay Bridge and garden views abound from this 3-level, bespoke luxury residence. The main floor consists of the great room with fireplace, dining, state-ofthe-art kitchen and powder room. There are front and rear garden terraces from this level.The second floor consists of a living room, large bedroom and spa-style bath.The entire third level consists of the splendid master suite with a luxe bath and a roof terrace.
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AT Sotheby’s AUCTION
Songye “Four Horn” Community Power Figure The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
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