Dean Badessa - 2018 San Francisco Market Report

ALAMO SQUARE

Offered at $6,300,000 701Scott.com

2018 Year in Review

San Francisco

Market Update

Bay Area Market Update

San Francisco

05 A Message from Dean Badessa

10 Market Snapshot

06 Featured Properties

Bay 12 Area District 1 Market Update 14 District 4

16 District 505 A Message from Jeff Gibson 18 District 606 Featured Properties 20 District 7 24 District 8 28 District 9 32 Extraordinary Results

a message from

Dean Badessa San Francisco Brokerage

As we look back at sales data from San Francisco for the complete calendar year, we see that median sale price rose steadily compared to past years, reaching $1.6M for single-family homes, according to the San Francisco Association of Realtors (SFAR).* In contrast to several other regions across the United States, San Francisco demonstrated not only consistently increasing prices but also a decline in average days on market (DOM), dropping to just 28 days for single-family homes and condominiums across the city, compared to 33 days in 2017. Many districts and subdistricts participated in this trend, including District 7, with single-family home DOM down 28%, and Districts 1, 5 and 9, where DOM was down 15-16%. Cow Hollow had the lowest days on market for condos of our featured neighborhoods, at 21 days. In contrast, condos in the Financial District stayed on the market much longer, approximatively 76 days on average.

If you are looking to buy or sell real estate anywhere from Alamo Square to Woodside or beyond, the agents affiliated with our San Francisco brokerage can point you in the right direction. We firmly believe that they represent not just the best agents in the Bay Area, but the best agents in the entire United States. Our globally recognized brand keeps them in constant contact with elite clients around the world. They also enjoy the support of a tight-knit community of top performing agents in our San Francisco office, as well as our extended network of 970 offices in 72 countries and territories.

I look forward to being of service to you.

SAN FRANCISCO BROKERAGE

Dean Badessa 117 Greenwich Street | San Francisco, CA 94111

sothebyshomes.com/sanfrancisco Source: San Francisco Multiple Listing Service (SFMLS)/InfoSparks; 2018 data refer to sales for the year(s) specified. Data within this document are drawn from the SFAR MLS, BAREIS, and/or MLS Listings. *Web data 1/1-12/31/17. 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 DRE: 899496. Dean Badessa DRE: 01876759. Photo credit: Rich Hay

cover: commanding st. regis residence | last asking $10,900,000

Though sales volume remained relatively flat across most districts compared to 2017, a few areas saw more growth in 2018, including condominium unit sales in District 1 which rose a robust 43%, and District 4 where they grew 23%. Though District 2 continued to have the highest ratio of median sale price to median asking price at 20%, relatively high-priced listings in Cow Hollow and Pacific Heights also outperformed their asking prices, selling for 10% and 9% respectively over list on average.

BAY AREA

Featured Properties We invite you to explore our exclusive offerings at S OT HEBYSHO M ES.C O M / SA NF RA NC I S C O

NOE VALLEY

State-of-the-Art Residence Offered at $4,695,000 525-28th.com

CASTRO

Offered at $9,400,000 3847-18th.com BLACKHAWK

Offered at $8,450,000 3114blackhawkmeadowlane.com PACIFIC HEIGHTS

Offered at $7,400,000 2500steiner3.com PACIFIC HEIGHTS

Offered at $2,099,000 2200sacramento1305.com *in order from left to right, top to bottom

sothebyshomes.com/sanfrancisco

THE CLAY JONES PENTHOUSE | CLAYJONESPENTHOUSE.COM

San Francisco featured neighborhoods

district 1

jordan park, lake, laurel heights, richmond, sea cliff

district 4

balboa terrace, diamond heights, west portal

district 5

clarendon heights, dolores heights, noe valley

district 6

alamo square, hayes valley, lower pac hgts, nopa

district 7

marina, cow hollow, pacific heights, presidio heights

district 8

financial dist, russian hill, nob hill, telegraph hill

district 9

bernal heights, south beach, soma, yerba buena

San Francisco

Market Snapshot | by District

Price Ratio

by District

{Median 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%

2018 Year in Review Highlights San Francisco

San Francisco Median Sale Prices

{Single Family Homes vs. Condos}

Highlight Median: SFH vs Condos San Fran

$1,800,000 $1,600,000 $1,400,000 $1,200,000

$1.570,000 $1,600,000 $1.196,500 $1,200,000

$1,000,000 $800,000 $600,000 $400,000 $200,000 $0

2013

2014

2015

SFH Median Sales Price

2016

Median Sale Prices

2018

Condos

Single Family Homes

Districts

2017

Condo Median Sales Price

Highlight HighlightMedian Medianbybydistrict districtSFH SFH {Districts vs. San Francisco Overall}

District 1

$6,000,000 6,000,000

District 4

$5,000,000 5,000,000

District 5

$4,000,000 4,000,000

District 6 District 7

$3,000,000 3,000,000

District 8

$2,000,000 2,000,000

District 9

$1,000,000 1,000,000

San Francisco

$0 -

2014

2014 2014

District11 District District66 District

2015

2015 2015

2016

2016 2016

District District 4 4 District District 7 7

2018

2017

20172017

2018 2018

5 DistrictDistrict 5 8 DistrictDistrict 8

2018 Highlights

/ San Francisco 2018 Market Update

at a glance {2018}

DISTRICT 1

Jordan Park Lake Laurel Heights Lone Mountain Outer Richmond Central Richmond Inner Richmond Sea Cliff

9

%

Change in Median Sale Price { 2018 vs. 2017, Condominiums }

43

%

Change in Units Sold { 2018 vs. 2017, Condominiums }

353 Total Units Sold

2

$ m Median Sale Price { Single Family Homes }

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

5%

15%

7%

-

-16%

2018

$2,000,000

189

$994

11%

23

2017

$1,900,625

164

$928

12%

27

2016

$1,820,000

181

$862

8%

31

2015

$1,650,600

193

$875

16%

23

2014

$1,468,500

214

$755

13%

27

single family homes

1

{ 2018 vs. 2017 }

Change

Median Sale Price | Single Family Homes vs. Condos Median Sales Price: SFH vs. Condos $2,000,000 $1,500,000 $1,000,000 $500,000 $0

2014

2015

SFH Median Sales Price

2016

2017

2018

Condo Median Sales Price

Single Family Homes

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

9%

43%

8%

-

-12%

2018

$1,275,000

164

$974

11%

25

2017

$1,175,000

115

$901

12%

28

2016

$1,085,000

145

$852

9%

34

2015

$1,050,000

153

$820

13%

32

2014

$999,000

163

$743

12%

37

condominiums { 2018 vs. 2017 }

Change

District 1

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

10%

7%

3%

-

8%

2018

$1,735,000

324

$974

16%

22

2017

$1,575,000

302

$944

21%

20

2016

$1,437,400

316

$834

11%

29

2015

$1,422,500

336

$809

14%

25

2014

$1,222,500

308

$730

17%

26

single family homes

4

{ 2018 vs. 2017 }

Change

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0

2014

2015

2016

SFH Median Sales Price

2017

2018

Condo Median Sales Price

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

21%

23%

0%

-

-2%

2018

$879,000

53

$790

7%

35

2017

$725,000

43

$794

12%

35

2016

$660,000

25

$798

6%

49

2015

$685,000

51

$713

9%

32

2014

$587,000

60

$624

7%

31

condominiums { 2018 vs. 2017 }

Change

San Francisco 2018 Market Update / District 4

at a glance {2018}

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

21

%

Change in Median Sale Price { 2018 vs. 2017, Condominiums }

23

%

Change in Units Sold { 2018 vs. 2017, Condominiums }

377 Total Units Sold

1.7m

$

Median Sale Price { Single Family Homes }

at a glance {2018}

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

5

%

Change in Median Sale Price { 2018 vs. 2017, Condominiums }

4

%

Change in Units Sold { 2018 vs. 2017, Condominiums }

764 Total Units Sold

2.3m

$

Median Sale Price { Single Family Homes }

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

0%

2%

6%

-

-16%

2018

$2,302,500

320

$1,237

15%

23

2017

$2,305,500

314

$1,167

16%

27

2016

$2,063,750

316

$1,081

9%

31

2015

$2,100,000

300

$1,122

17%

21

2014

$1,880,000

325

$980

11%

25

single family homes

5

{ 2018 vs. 2017 }

Change

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0

2014

2015

2016

SFH Median Sales Price

Single Family Homes

2017

2018

Condo Median Sales Price

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

5%

4%

7%

-

-15%

2018

$1,404,000

444

$1,146

15%

22

2017

$1,331,250

428

$1,069

11%

26

2016

$1,253,500

394

$1,012

9%

33

2015

$1,225,000

474

$1,025

23%

26

2014

$1,107,875

458

$899

14%

29

condominiums { 2018 vs. 2017 }

Change

District 5

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

9%

14%

-1%

-

-4%

2018

$2,755,000

40

$1,084

1%

31

2017

$2,535,000

35

$1,096

13%

32

2016

$2,277,500

36

$1,060

11%

42

2015

$2,250,000

37

$916

13%

25

2014

$2,250,000

45

$921

5%

30

single family homes

6

{ 2018 vs. 2017 }

Change

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0

2014

2015

2016

SFH Median Sales Price

2017

2018

Condo Median Sales Price

Single Family Homes

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

4%

-7%

6%

-

4%

2018

$1,245,000

281

$1,074

14%

34

2017

$1,200,000

303

$1,012

10%

33

2016

$1,067,500

321

$1,008

8%

36

2015

$1,100,000

284

$943

13%

30

2014

$900,000

314

$825

11%

40

condominiums { 2018 vs. 2017 }

Change

San Francisco 2018 Market Update / District 6

at a glance {2018}

DISTRICT 6

Alamo Square Hayes Valley Western Addition Lower Pacific Heights Anza Vista North Panhandle (NoPa)

9

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

14

%

Change in Units Sold { 2018 vs. 2017, Single Family Homes }

321 Total Units Sold

2.8m

$

Median Sale Price { Single Family Homes }

at a glance {2018}

DISTRICT 7

The Marina Cow Hollow Pacific Heights Presidio Heights

-1

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

2

%

Change in Units Sold { 2018 vs. 2017, Single Family Homes}

389 Total Units Sold

4.7m

$

Median Sale Price { Single Family Homes }

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-1%

2%

5%

-

-28%

2018

$4,730,000

99

$1,499

-3%

28

2017

$4,800,000

97

$1,427

-2%

40

2016

$4,700,000

102

$1,465

-2%

46

2015

$4,975,000

87

$1,493

8%

28

2014

$3,905,000

117

$1,211

3%

37

single family homes { 2018 vs. 2017 }

Change

7

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0

2014

2015

2016

SFH Median Sales Price

Single Family Homes

2017

2018

Condo Median Sales Price

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-5%

-7%

3%

-

-13%

2018

$1,497,500

290

$1,239

11%

24

2017

$1,575,000

313

$1,199

5%

28

2016

$1,458,500

298

$1,193

2%

34

2015

$1,495,000

261

$1,160

15%

24

2014

$1,341,000

318

$999

6%

33

condominiums { 2018 vs. 2017 }

Change

District 7

/ San Francisco 2018 Market Update

district 7

Neighborhood Highlights Cow Hollow

{Median Sale Price | Condominiums over Five Years}

Cow Hollow

10

%

$1,450,000

Median Sale vs. Original List

$1,400,000

21

$1,350,000 $1,300,000

Average DOM

$1,250,000

$

$1,200,000

2014

2015

2016

2017

2018

1,177

$/Square Foot

Marina

{Median Sale Price | Condominiums over Five Years}

Marina

11

%

$1,800,000 $1,600,000

Median Sale vs. Original List

$1,400,000

22

$1,200,000 $1,000,000 $800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,236

$/Square Foot

District

7

Pacific Heights

{Median Sale Price | Condominiums over Five Years}

Pacific Heights

9

%

$1,550,000 $1,500,000

Median Sale vs. Original List

$1,450,000

26

$1,400,000 $1,350,000

Average DOM

$1,300,000 $1,250,000

$

$1,200,000

2014

2015

2016

2017

2018

1,265

$/Square Foot

Presidio Heights

{Median Sale Price | Condominiums over Five Years}

Presidio Heights

0

$2,500,000

Median Sale vs. Original List

$2,000,000

26

$1,500,000 $1,000,000

Average DOM

$500,000

$

$0

2014

%

2015

2016

2017

2018

District 7 Neighborhood Highlights

1,163

$/Square Foot

/ San Francisco 2018 Market Update

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

43%

-4%

19%

2018

$3,564,875

23

$1,316

-5%

37

2017

$2,497,500

24

$1,110

-2%

48

2016

$3,447,500

14

$1,389

-2%

55

2015

$2,826,500

22

$1,514

26%

51

2014

$2,757,000

23

$1,156

-1%

45

single family homes

8

Median Sale vs. Average Days Original List on Market

{ 2018 vs. 2017 }

Change

-23%

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0

2014

2015

2016

SFH Median Sales Price

Single Family Homes

2017

2018

Condo Median Sales Price

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-1%

-1%

1%

-

-9%

2018

$1,085,000

482

$1,151

5%

40

2017

$1,100,000

489

$1,140

5%

44

2016

$998,000

467

$1,112

4%

36

2015

$1,050,000

452

$1,089

6%

35

2014

$896,500

538

$963

5%

43

condominiums { 2018 vs. 2017 }

Change

San Francisco 2018 Market Update / District 8

at a glance {2018}

DISTRICT 8

Civic Center Downtown Financial District North Beach Russian Hill Nob Hill Telegraph Hill Tenderloin North Waterfront

43

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

-1

%

Change in Units Sold { 2018 vs. 2017, Condominiums }

505 Total Units Sold

3.6m

$

Median Sale Price { Single Family Homes }

district 8

Neighborhood Highlights Financial District

{Median Sale Price | Condominiums over Five Years}

Financial District/B

-7

$2,500,000

Median Sale vs. Original List

$2,000,000

76

$1,500,000 $1,000,000

Average DOM

$500,000

$

$0

2014

%

2015

2016

2017

2018

1,155

$/Square Foot

Nob Hill

{Median Sale Price | Condominiums over Five Years}

Nob Hill

4

%

$1,320,000 $1,300,000 $1,280,000 $1,260,000 $1,240,000 $1,220,000 $1,200,000 $1,180,000 $1,160,000 $1,140,000 $1,120,000 $1,100,000

2014

Median Sale vs. Original List

50

Average DOM

$

2015

2016

2017

2018

1,211

$/Square Foot

District

8

North Waterfront

{Median Sale Price | Condominiums over Five Years}

North Waterfront

0

%

$1,200,000

Median Sale vs. Original List

$1,000,000

35

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,009

$/Square Foot

Russian Hill

{Median Sale Price | Condominiums over Five Years}

Russian Hill

5

%

$1,800,000 $1,600,000

Median Sale vs. Original List

$1,400,000

33

$1,200,000 $1,000,000 $800,000 $600,000

Average DOM

$400,000

$

$200,000 $0

2014

2015

2016

2017

2018

District 8 Neighborhood Highlights

1,261

$/Square Foot

/ San Francisco 2018 Market Update

at a glance {2018}

DISTRICT 9

Bernal Heights Dogpatch Inner Mission Mission Bay Potrero Hill South Beach SoMa Yerba Buena

6

%

Change in Median Sale Price { 2018 vs. 2017, Single Family Homes }

-9

%

Change in Units Sold { 2018 vs. 2017, Single Family Homes }

1,325 Total Units Sold

1.6m

$

Median Sale Price { Single Family Homes }

District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

6%

-9%

2%

-

-15%

2018

$1,617,500

240

$1,062

18%

20

2017

$1,523,000

263

$1,036

18%

24

2016

$1,405,000

247

$1,000

18%

31

2015

$1,380,000

263

$956

16%

23

2014

$1,200,000

233

$838

22%

28

single family homes

9

{ 2018 vs. 2017 }

Change

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0

2014

2015

2016

SFH Median Sales Price

Single Family Homes

2017

2018

Condo Median Sales Price

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

6%

5%

9%

-

-16%

2018

$1,131,000

1,085

$1,152

5%

35

2017

$1,070,000

1,035

$1,055

7%

42

2016

$1,027,500

956

$1,054

3%

44

2015

$1,059,650

1,046

$1,075

6%

33

2014

$915,500

1,158

$959

8%

33

condominiums { 2018 vs. 2017 }

Change

District 9

/ San Francisco 2018 Market Update

district 9

Neighborhood Highlights Bernal Heights

{Median Sale Price | Single Family Homes over Five Years}

Bernal Heights

13

%

$1,200,000

Median Sale vs. Original List

$1,000,000

27

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,016

$/Square Foot

Inner Mission

{Median Sale Price | Condominiums over Five Years}

Inner Mission

21

%

$1,400,000 $1,200,000

Median Sale vs. Original List

$1,000,000

30

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,065

$/Square Foot

District

9

SoMa

{Median Sale Price | Condominiums over Five Years}

South of Market

4

%

$950,000

Median Sale vs. Original List

$900,000

36

$850,000 $800,000

Average DOM

$750,000

$

$700,000

2014

2015

2016

2017

1,049

$/Square Foot

2018

South Beach

{Median Sale Price | Condominiums over Five Years}

South Beach

-2

%

$1,300,000 $1,250,000

Median Sale vs. Original List

$1,200,000

47

$1,150,000

Average DOM

$1,100,000 $1,050,000

$

$1,000,000

2014

2015

2016

2017

2018

District 9 Neighborhood Highlights

1,303

$/Square Foot

/ San Francisco 2018 Market Update

Dean Badessa

DRE: 01876759 415.474.5140 Dean@DeanBadessa.com

NOE VALLEY

Five Bedroom Contemporary View Home Last Asking $5,400,000