Q4 | 2017
San Francisco
Market Update
a message from
Dean Badessa The fourth quarter of 2017 closed another year of steady appreciation for Bay Area housing markets. Driven by seemingly insatiable demand and limited supply, according to the San Francisco Multiple Listing Service, single-family home sales in San Francisco rose 7% over the year prior to a median price of $1.42 million. Listings in virtually every district spent fewer days on the market, with some areas accelerating by almost 40% in Q4 compared to last year. Sotheby’s International Realty continued to lead the Bay Area market not only in the sale of fine homes, but in providing outstanding service to our clients. While we are the brokerage of reference for luxury real estate, we believe that luxury is an experience, not a price point. I work tirelessly on behalf of every client, combining my outstanding expertise in local neighborhoods with the power of the Sotheby’s International Realty global network extending to 21,000 offices in 69 countries. This combination can produce record results, like our brokerage’s recent sale of a Pacific Heights mansion listed at $40 million which was the most valuable home ever sold in San Francisco. But our success extends to every corner of the market, giving us the highest volume of condo sales in the City as well as the highest average price for single-family homes in 2017 according to MLS data. As we move into 2018, the Dow stands above 25,000 in one of the longest bull markets of recent decades, while financing remains affordable by historical standards. The new tax bill passed in December, ongoing changes to net neutrality and other issues central to California’s economy will also play a role in our rapidly evolving marketplace. In this dynamic environment, our core focus on exceptional service is more relevant than ever. If I may be of service to you in the sale or purchase of property in the Bay Area or around the world, please do not heistate to contact me. Dean Badessa, Sales Associate 117 Greenwich Street | San Francisco, CA 94111 415.474.5140 | Dean@DeanBadessa.com | DeanBadessa.com DRE: 01876759
sothebyshomes.com/sanfrancisco *Source: San Francisco Multiple Listing Service (SFMLS), for 12 months ending 12/31/17 for the entire Bay Area. Data: SFAR and Infosparks, SF county, 1/1-12/31/17. All data within this document is pulled from the San Francisco MLS. 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. SIR CalBRE#: 899496
Extraordinary Results
TELEGRAPH HILL
282 Union Street | Represented Sller Listing Price $1,749,000 Sale Price $1,875,000 Dean Badessa | 415.474.5140
San Francisco
Market Snapshot | by District
Price Ratio by District
{Average Final Sale vs. Original List}
7 1
6 4
3 -20%
9
5
2
-25%
8
-15%
10 -10%
-5%
0%
+5%
+10%
+15%
+20%
+25%
Q4 2017 Highlights San Francisco
Median Sale Price
{Single Family Homes vs. Condos}
$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000
Single Family
$600,000
Condos
$400,000 $200,000 $-
2013
Median Sale Price
2014
2015
2016
2017
Highlight Median by district SFH {Districts vs. San Francisco Overall}
$6,000,000
District 1 District 4
$5,000,000
District 5
$4,000,000
District 6 District 7
$3,000,000
District 8
$2,000,000
District 9
$1,000,000
San Francisco
$-
2013
2014
2015
2016
2017
Q4 Highlights
/ San Francisco Q4 Market Update
at a glance {Q4 | 2017}
DISTRICT 1
Jordan Park Lake Laurel Heights Lone Mountain Outer Richmond Central Richmond Inner Richmond Sea Cliff
4
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
24
%
Change in Units Sold {2017 vs. 2016, Condominiums}
48
Total Units Sold
1.9m
$
Median Sale Price {Single Family Homes}
District Q4
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
4%
-14%
15%
-
-34%
2017
$1,695,000
48
996
14%
22
2016
$1,637,000
56
863
8%
33
2015
$1,395,000
43
839
8%
36
2014
$1,399,000
61
785
10%
29
2013
$1,195,000
57
645
10%
33
single family homes
1
{2017 vs. 2016}
Change
Median Sale Price | Single Family Homes vs. Condos $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
10%
24%
5%
-
-7%
2017
$1,094,000
46
842
4%
33
2016
$995,000
37
805
12%
35
2015
$945,000
49
761
14%
36
2014
$1,148,000
39
730
0%
36
2013
$849,000
35
691
5%
41
condominiums {2017 vs. 2016}
Change
District 1
/ San Francisco Q4 Market Update
District Q4
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
15%
-2%
11%
-
-32%
2017
$1,385,000
85
914
16%
20
2016
$1,200,000
87
820
14%
29
2015
$1,297,000
106
767
9%
24
2014
$1,095,000
97
735
14%
24
2013
$949,000
96
615
11%
36
single family homes {2017 vs. 2016}
Change
District 4 SFH vs Condos Median Sale Price | Single Family Homes vs. Condos $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
9%
86%
-6%
-
-18%
2017
$650,000
13
811
12%
42
2016
$599,000
7
865
0%
52
2015
$628,000
10
701
9%
28
2014
$589,475
16
638
-3%
35
2013
$465,000
15
531
4%
52
condominiums {2017 vs. 2016}
Change
San Francisco Q4 Market Update / District 4
4
at a glance {Q4 | 2017}
DISTRICT 4
Balboa Terrace Diamond Heights Forest Hill Forest Hill Extension Forest Knolls Ingleside Terrace Midtown Terrace Miraloma Park Monterey Heights Mt Davidson Manor Sherwood Forest St. Francis Wood Sunnyside West Portal Westwood Highlands Westwood Park
17
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
86
%
Change in Units Sold {2017 vs. 2016, Condominiums}
98
Total Units Sold
1.6m
$
Median Sale Price {Single Family Homes}
at a glance {Q4 | 2017}
DISTRICT 5
Ashbury Heights Buena Vista Clarendon Heights Corona Heights Cole Valley Castro Dolores Heights Duboce Triangle Eureka Valley Glen Park Haight Ashbury Noe Valley Twin Peaks Mission Dolores
16
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
13
%
Change in Units Sold {2017 vs. 2016, Condominiums}
217 Total Units Sold
2.3m
$
Median Sale Price {Single Family Homes}
District Q4
single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
13%
-10%
12%
-
-24%
5
{2017 vs. 2016}
Change 2017
$2,300,000 95
1147
15%
27
2016
$2,030,000 105
1022
7%
35
2015
$1,895,000
81
1011
6%
25
2014
$1,781,000
94
937
12%
26
2013
$1,662,500
94
860
8%
33
Median Sale Price | Single Family Homes vs. Condos District 5 SFH vs Condos $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
9%
13%
7%
-
-16%
2017
$1,372,500
122
1062
15%
28
2016
$1,259,750
108
988
7%
33
2015
$1,230,000
121
989
17%
30
2014
$1,100,000
100
808
10%
35
2013
$1,072,000
125
841
19%
37
condominiums {2017 vs. 2016}
Change
District 5
/ San Francisco Q4 Market Update
District Q4
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
11%
-21%
-4%
-
-10%
2017
$2,601,000
11
994
18%
24
2016
$2,337,500
14
1031
17%
27
2015
$2,250,000 10
915
17%
31
2014
$2,195,000
15
927
10%
27
2013
$1,550,000
13
863
0%
26
single family homes {2017 vs. 2016}
Change
Median Sale Price | Single Family Homes vs. Condos
District 6 SFH vs Condos
$3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
16%
-30%
3%
-
-10%
2017
$1,225,000
69
1003
4%
35
2016
$1,057,000
98
970
6%
39
2015
$1,175,000
77
933
12%
33
2014
$1,005,000
89
812
12%
48
2013
$749,000
103
775
9%
30
condominiums {2017 vs. 2016}
Change
San Francisco Q4 Market Update / District 6
6
at a glance {Q4 | 2017}
DISTRICT 6
Alamo Square Hayes Valley Western Addition Lower Pacific Heights Anza Vista North Panhandle (NoPa)
16
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
-30
%
Change in Units Sold {2017 vs. 2016, Condominiums}
80
Total Units Sold
2.6m
$
Median Sale Price {Single Family Homes}
at a glance {Q4 | 2017}
DISTRICT 7
The Marina Cow Hollow Pacific Heights Presidio Heights
8
%
Change in Median Sale Price {2017 vs. 2016, Single Family Homes}
15
%
Change in Units Sold {2017 vs. 2016, Single Family Homes}
110 Total Units Sold
5
$ m Median Sale Price {Single Family Homes}
District Q4
single family homes
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-8%
15%
-10%
-
-24%
{2017 vs. 2016}
Change 2017
$4,995,000 31
1393
2%
35
2016
$5,400,000 27
1545
-2%
46
2015
$4,225,000
26
1445
-2%
34
2014
$3,800,000 38
1214
-3%
39
2013
$3,812,500
1173
16%
41
40
7
Median Sale Price | Single Family Homes vs. Condos
District 7 SFH vs Condos
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-2%
-14%
9%
-
-32%
2017
$1,500,000
79
1207
0%
24
2016
$1,535,000
92
1105
8%
35
2015
$1,502,500
66
1171
12%
25
2014
$1,349,000
87
1027
5%
32
2013
$1,200,000
89
896
0%
40
condominiums {2017 vs. 2016}
Change
District 7
/ San Francisco Q4 Market Update
district 7
Neighborhood Highlights Cow Hollow
{Median Sale Price | Condominiums over Five Years}
Cow Hollow
-4
$2,500,000 $2,250,000
Final Sale vs. Original List
$2,000,000
26
$1,750,000 $1,500,000 $1,250,000
Average DOM
$1,000,000 $750,000
$
$500,000
2013 2013
%
2014 2014
2015 2015
2016 2016
2017 2017
1,098
$/Square Foot
Marina
{Median Sale Price | Condominiums over Five Years}
Marina
-4
%
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
25
$1,000,000 $750,000 $500,000
Average DOM
$250,000
$
$0
2013
2014
2015
2016
2017
1,202
$/Square Foot
District
7
Pacific Heights
{Median Sale Price | Condominiums over Five Years}
Pacific Heights
-5
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
22
$1,000,000 $750,000
Average DOM
$500,000 $250,000
$
$0
2013
%
2014
2015
2016
2017
1,236
$/Square Foot
Presidio Heights
{Median Sale Price | Condominiums over Five Years}
Presidio Heights
-6
$2,500,000
Final Sale vs. Original List
$2,000,000
32
$1,500,000 $1,000,000
Average DOM
$500,000
$
$0
2013
%
2014
2015
2016
2017
District 7 Neighborhood Highlights
1,102
$/Square Foot
/ San Francisco Q4 Market Update
District Q4
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
-45%
0%
-30%
-
-37%
2017
$2,798,750
6
1002
-7%
50
2016
$5,066,500
6
1431
-1%
79
2015
$5,600,000
5
1815
12%
58
2014
$2,050,000 5
953
-7%
36
2013
$2,500,000 7
1476
-4%
78
single family homes {2017 vs. 2016}
Change
District 8 SFH vs Condos Median Sale Price | Single Family Homes vs. Condos $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
20%
2%
5%
2017
$1,152,500
134
1163
1%
42
2016
$960,000
132
1105
1%
38
2015
$993,000
124
1101
2%
36
2014
$870,000
126
1030
9%
48
2013
$770,500
142
957
5%
47
condominiums
Final Sale vs. Original List
Average Days on Market
{2017 vs. 2016}
Change
San Francisco Q4 Market Update / District 8
10%
8
at a glance {Q4 | 2017}
DISTRICT 8
Civic Center Downtown Financial District North Beach Russian Hill Nob Hill Telegraph Hill Tenderloin North Waterfront
20
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
2
%
Change in Units Sold {2017 vs. 2016, Condominiums}
140 Total Units Sold
2.8m
$
Median Sale Price {Single Family Homes}
district 8
Neighborhood Highlights Financial District
{Median Sale Price | Condominiums over Five Years}
Financial District
$2,500,000
-6
$2,000,000
Final Sale vs. Original List
$1,500,000
32
$1,000,000
%
Average DOM
$500,000
$
$0
2013
2014
2015
2016
2017
1,102
$/Square Foot
Nob Hill
{Median Sale Price | Condominiums over Five Years}
Nob Hill
-1
$1,400,000 $1,200,000
Final Sale vs. Original List
$1,000,000
47
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
%
2014
2015
2016
2017
1,187
$/Square Foot
District
8
North Waterfront
{Median Sale Price | Condominiums over Five Years}
N. Waterfront
3
$1,200,000 $1,000,000
Final Sale vs. Original List
$800,000
39
$600,000 $400,000
Average DOM
$200,000
$
$0
2013
%
2014
2015
2016
2017
962
$/Square Foot
Russian Hill
{Median Sale Price | Condominiums over Five Years}
Russian Hill
-8
$1,600,000 $1,400,000
%
$1,200,000
Final Sale vs. Original List
$1,000,000
40
$800,000 $600,000
Average DOM
$400,000 $200,000
$
$0
2013
2014
2015
2016
2017
District 8 Neighborhood Highlights
1,340
$/Square Foot
/ San Francisco Q4 Market Update
at a glance {Q4 | 2017}
DISTRICT 9
Civic Center Downtown Financial District North Beach Russian Hill Nob Hill Telegraph Hill Tenderloin North Waterfront
16
%
Change in Median Sale Price {2017 vs. 2016, Condominiums}
41
%
Change in Units Sold {2017 vs. 2016, Single Family Homes}
376 Total Units Sold
1.6m
$
Median Sale Price {Single Family Homes}
District Q4
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
Final Sale vs. Original List
Average Days on Market
15%
13%
8%
-
-36%
2017
$1,625,000
69
1004
16%
20
2016
$1,410,000
61
928
9%
32
2015
$1,321,250
74
916
11%
24
2014
$1,265,000
67
822
27%
26
2013
$1,150,000
71
731
21%
27
single family homes
9
{2017 vs. 2016}
Change
District 9 SFHFamily vs Condos Median Sale Price | Single Homes vs. Condos $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
2013
2014
2015
Single Family Homes
Q4
2016
2017
Condos
Median Sale Price
Total Units Sold
Average Price Per Sq. Ft.
16%
41%
0%
2017
$1,099,000
307
1041
0%
39
2016
$950,000
217
1040
2%
49
2015
$1,100,000
264
1068
10%
35
2014
$940,000
269
931
5%
37
2013
$812,500
310
874
4%
40
condominiums
Final Sale vs. Original List
Average Days on Market
{2017 vs. 2016}
Change
-21%
District 9
/ San Francisco Q4 Market Update
district 9
Neighborhood Highlights Bernal Heights
{Median Sale Price | Single Family Homes over Five Years}
Bernal Heights
-8
%
$1,750,000 $1,500,000
Final Sale vs. Original List
$1,250,000
34
$1,000,000 $750,000
Average DOM
$500,000 $250,000
$
$0
2013
2014
2015
2016
2017
972
$/Square Foot
Inner Mission
{Median Sale Price | Condominiums over Five Years}
Inner Mission
-2
$1,200,000 $1,000,000
Final Sale vs. Original List
$800,000
32
$600,000 $400,000
Average DOM
$200,000
$
$0
2013
%
2014
2015
2016
2017
994
$/Square Foot
District
9
SoMa
{Median Sale Price | Condominiums over Five Years}
SoMa
-8
$1,200,000 $1,000,000
Final Sale vs. Original List
$800,000
51
$600,000 $400,000
Average DOM
$200,000
$
$0
2013
South Beach
%
2014
2015
2016
2017
934
$/Square Foot
{Median Sale Price | Condominiums over Five Years}
South Beach
-1
%
$1,400,000 $1,200,000
Final Sale vs. Original List
$1,000,000
40
$800,000 $600,000 $400,000
Average DOM
$200,000
$
$0
2013
2014
2015
2016
2017
District 9 Neighborhood Highlights
1,140
$/Square Foot
/ San Francisco Q4 Market Update
Dean Badessa 415.474.5140 | Dean@DeanBadessa.com DeanBadessa.com DRE: 01876759
Sotheby’s International Realty | 117 Greenwich Street, San Francisco CA 94111 © MMXVII Sotheby’s International Realty, Inc. All Rights Reserved. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. 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. 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. 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. Equal housing opportunity.