Page 1

Q2 | 2017

San Francisco

Market Update


RUSSIAN HILL

Record Sale at 1050 North Point Last Asking $3,350,000


a message from

Dean Badessa

Sales Associate, San Francisco Brokerage In the second quarter of 2017, low inventory coupled with steady demand kept San Francisco in a strong, yet moderating housing market. According the San Francisco Multiple Listing Service, the median sales price for a single-family home rose 7% in the City year-over-year, from $1,350,000 in Q2 2016 to $1,450,000 in Q2 2017. In Q2 2017, 625 single-family homes were sold, a 4% decrease compared to the 654 single-family homes sold in Q2 2016. Strong buyer demand led to a 21% higher final sales price vs. original list price ratio for singlefamily homes. Unlike single-family homes, the total number of condo/co-ops/ TIC units sold in the second quarter increased 5% from 748 in Q2 2016 to 785 in Q2 2017—the first increase recorded for condo/co-op/TIC sales in Q2 since 2013. The median sales price for condos/co-ops/TIC across all of San Francisco increased to $1,150,000, a modest 2% year-over-year increase from Q2 2016. While most of San Francisco saw moderate gains, some Districts in the City experienced above-average gains in median sales price. In District 5, the median sales price for single-family homes climbed 23% year-over-year, increasing from $1,950,000 in Q2 2016 to $2,400,000 in Q2 2017. That median sales price continued to grow as the total number of single-family homes sold remained relatively flat from 91 units in Q2 2016 to 88 units in Q2 2017. Notably, the median sales price for a condo/co-op/TIC in District 1 rose 25% in Q2 year-over-year. The total number of condo/co-ops/TICs sold in District 1 fell 35%, down from 40 units in Q2 2016 to 26 units in Q2 2017.

DEAN BADESSA

Sales Associate, San Francisco Brokerage 415.901.1715 | dean@deanbadessa.com | CalBRE #01876759

sothebyshomes.com/sanfrancisco

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.


Featured Properties I invite you to explore my exclusive offerings at S OTHEBYS H O ME S.C O M/ SANF RAN C IS C O

EUREKA VALLEY

Offered at $1,895,000 827Castro.com


RUSSIAN HILL | 1050 NORTH POINT #1502/03A

Record Sale at Fontana West Listing Price $3,350,000 | Sale Price $3,295,000 This sale represents a 10% increase in value (apples to apples) vs. the sellers purchase price in 2015. LOWER PACIFIC HEIGHTS | 2040 SUTTER STREET #301

Listing price: $1,348,000 | Sale Price: $1,500,000 Record sale at 2040 -2060 Sutter Street EUREKA VALLEY | 827 CASTRO STREET

Offered at $1,895,000 827Castro.com TELEGRAPH HILL | 282 UNION STREET

Offered at $1,749,000

*in order from left to right, top to bottom

sothebyshomes.com/sanfrancisco


Market Snapshot

San Francisco | 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%

NO CHANGE

+5%

+10%

+15%

+20%

+25%


Q2 Highlights San Francisco

Median Highlight Median: SFH vs Condos San Fran Sale Price

{Single Family Homes vs. Condos}

$3,000,000 $2,500,000 $2,000,000 $1,500,000

Single Family

$1,000,000

Condos

$500,000 $0

2013

2014

2015 SFH SF

Median Sale Price

2016

2017

Condos SF

Highlight Median by district SFH

{Districts vs. San Francisco Overall}

$6,000,000

District 1

$5,000,000

District 4

$4,000,000

District 5 District 6

$3,000,000

District 7

$2,000,000

District 8 $1,000,000

District 9 San Francisco

$-

2013

2014 District 1 District 6 District 9

2015 District 4 District 7 San Francisco

2016

2017 District 5 District 8 Q2 Highlights

/ San Francisco Q2 Market Update


at a glance {Q2 | 2017}

district 1

JORDAN PARK LAKE LAUREL HEIGHTS LONE MOUNTAIN OUTER RICHMOND CENTRAL RICHMOND INNER RICHMOND SEA CLIFF

25

%

Change in Median Sale Price {2017 vs. 2016, Condominiums}

-35

%

Change in Units Sold {2017 vs. 2016, Condominiums}

74

Total Units Sold

1.8m

$

Median Sale Price {Single Family Homes}


District Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

-3%

-16%

5%

-

-7%

2017

$1,768,000

48

$883

11%

24

2016

$1,822,000 57

$837

10%

26

2015

$1,885,000 67

$937

14%

16

2014

$1,605,000 57

$787

23%

19

2013

$1,431,500

$698

8%

37

single family homes

1

{2017 vs. 2016}

Change

70

District 1 SFH vs Condos

Median Sale Price | Single Family Homes vs. Condos $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 D1 Condos

Single Family Homes

condominiums

2016

2017

D1 SFH

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

25%

-35%

9%

-

-48%

{2017 vs. 2016}

Change 2017

$1,285,000 26

$910

20%

20

2016

$1,027,500

40

$838

4%

39

2015

$1,125,000

38

$839

13%

26

2014

$884,500

48

$745

4%

38

2013

$845,000

39

$636

10%

31

District 1

/ San Francisco Q2 Market Update


District single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

7%

-4%

16%

-

-24%

{2017 vs. 2016}

Change 2017

$1,604,950 86

$924

19%

19

2016

$1,500,000 90

$793

15%

25

2015

$1,442,500 94

$805

13%

20

2014

$1,362,500 76

$715

16%

27

2013

$1,146,000

$625

18%

33

89

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 Series1

Single Family Homes

2016

2017

D4 SFH

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

9%

63%

2%

-

32%

2017

$725,000

13

$749

7%

48

2016

$662,500

8

$736

1%

37

2015

$792,500

14

$661

9%

35

2014

$574,500

18

$617

14%

22

2013

$460,000

19

$526

15%

64

condominiums {2017 vs. 2016}

Change

San Francisco Q2 Market Update / District 4

4


at a glance {Q2 | 2017}

district 4

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 WESTWOOD PARK

9

%

Change in Median Sale Price {2017 vs. 2016, Condominiums}

63

%

Change in Units Sold {2017 vs. 2016, Condominiums}

99

Total Units Sold

1.6m

$

Median Sale Price {Single Family Homes}


at a glance {Q2 | 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

23

%

Change in Median Sale Price {2017 vs. 2016, Single Family Homes}

34

%

Change in Units Sold {2017 vs. 2016, Condominiums}

227 Total Units Sold

2.4m

$

Median Sale Price {Single Family Homes}


District single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

23%

-3%

4%

-

3%

5

{2017 vs. 2016}

Change 2017

$2,400,000 88

$1,091

9%

29

2016

$1,950,000 91

$1,048

8%

28

2015

$2,155,000 84

$1,090

20%

19

2014

$1,935,000 87

$953

15%

20

2013

$1,560,000 111

$835

12%

29

District 5 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

2013

2014

2015 D5 Condos

Single Family Homes

condominiums

2016

2017

D5 SFH

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

-2%

34%

6%

-

-8%

{2017 vs. 2016}

Change 2017

$1,280,000 139

$1,070

16%

25

2016

$1,300,000 104

$1,013

9%

27

2015

$1,225,000 165

$1,017

23%

20

2014

$1,010,000

136

$916

13%

25

2013

$918,000

154

$763

10%

34

District 5

/ San Francisco Q2 Market Update


District single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

-22%

-22%

22%

-

20%

{2017 vs. 2016}

Change 2017

$1,800,000 7

$1,184

0%

39

2016

$2,305,000 9

$967

0%

49

2015

$1,821,500

8

$834

8%

29

2014

$2,725,000 11

$951

19%

21

2013

$2,250,000 11

$814

13%

34

District 6 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

2013

2014

2015 D6 Condos

Single Family Homes

2016

2017

D6 SFH

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

1%

30%

4%

-

-12%

2017

$1,185,000

92

$1,009

19%

30

2016

$1,175,000

71

$966

18%

34

2015

$1,045,000 75

$929

16%

28

2014

$910,000

77

$839

14%

34

2013

$799,675

96

$731

7%

36

condominiums {2017 vs. 2016}

Change

San Francisco Q2 Market Update / District 6

6


at a glance {Q2 | 2017}

district 6

ALAMO SQUARE HAYES VALLEY WESTERN ADDITION LOWER PACIFIC HEIGHTS ANZA VISTA NORTH PANHANDLE (NOPA)

-22

%

Change in Median Sale Price {2017 vs. 2016, Single Family Homes}

30

%

Change in Units Sold {2017 vs. 2016, Condominiums}

99

Total Units Sold

1.8m

$

Median Sale Price {Single Family Homes}


at a glance {Q2 | 2017}

district 7

THE MARINA COW HOLLOW PACIFIC HEIGHTS PRESIDIO HEIGHTS

13

%

Change in Median Sale Price {2017 vs. 2016, Single Family Homes}

24

%

Change in Units Sold {2017 vs. 2016, Condominiums}

132 Total Units Sold

5.3m

$

Median Sale Price {Single Family Homes}


District single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

13%

-9%

-1%

-

-21%

7

{2017 vs. 2016}

Change 2017

$5,324,000 30

$1,446

-4%

38

2016

$4,725,000 33

$1,453

-1%

48

2015

$4,750,000 31

$1,483

-5%

19

2014

$3,700,000 34

$1,195

4%

45

2013

$3,200,000 47

$1,129

7%

26

District 7 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

2013

2014

2015 Series1

Single Family Homes

condominiums

2016

2017

D7 SFH

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

1%

24%

9%

-

-13%

{2017 vs. 2016}

Change 2017

$1,580,000 102

$1,317

6%

26

2016

$1,562,500 82

$1,206

5%

30

2015

$1,507,507

64

$1,215

20%

21

2014

$1,310,000

99

$1,010

9%

28

2013

$1,210,000

116

876

11%

44

District 7

/ San Francisco Q2 Market Update


district 7

Neighborhood Highlights Cow Hollow

{Median Sale Price | Condominiums over Five Years}

Cow Hollow

-6

$1,750,000 $1,500,000

Final Sale vs. Original List

$1,250,000

25

$1,000,000 $750,000

Average DOM

$500,000 $250,000

$

$0

2013

%

2014

2015

2016

2017

1,259

$/Square Foot

Marina

{Median Sale Price | Condominiums over Five Years}

Marina

-3

%

$1,750,000 $1,500,000

Final Sale vs. Original List

$1,250,000

20

$1,000,000 $750,000

Average DOM

$500,000

$

$250,000 $0

2013

2014

2015

2016

2017

1,206

$/Square Foot


District

7

Pacific Heights

{Median Sale Price | Condominiums over Five Years}

Pacific Heights

-7

$1,750,000 $1,500,000

Final Sale vs. Original List

$1,250,000

29

$1,000,000 $750,000

Average DOM

$500,000 $250,000

$

$0

2013

%

2014

2015

2016

2017

1,341

$/Square Foot

Presidio Heights

{Median Sale Price | Condominiums over Five Years}

Presidio Heights

-6

$3,000,000

Final Sale vs. Original List

$2,500,000

5

$2,000,000 $1,500,000

Average DOM

$1,000,000 $500,000

$

$0

2013

%

2014

2015

2016

2017

District 7 Neighborhood Highlights

1,421

$/Square Foot

/ San Francisco Q2 Market Update


District single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

-28%

33%

2%

-

-6%

{2017 vs. 2016}

Change 2017

$2,300,000 8

$1,263

-6%

41

2016

$3,185,000 6

$1,235

-4%

44

2015

$2,222,000 7

$1,305

11%

17

2014

$3,191,000

8

$1,277

4%

86

2013

$2,562,500 8

$1,154

12%

28

District 8 SFH vs Condos

Median Sale Price | Single Family Homes vs. Condos $3,850,000 $3,300,000 $2,750,000 $2,200,000 $1,650,000 $1,100,000 $550,000 $0

2013

2014

2015 D8 Condos

Single Family Homes

2016

2017

D8 SFH

Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

-13%

3%

-1%

-

36%

2017

$940,000

135

$1,156

-1%

40

2016

$1,085,000 131

$1,171

9%

30

2015

$1,112,500

138

$1,254

12%

34

2014

$945,000

146

$982

9%

42

2013

$845,000

163

$910

6%

37

condominiums {2017 vs. 2016}

Change

San Francisco Q2 Market Update / District 8

8


at a glance {Q2 | 2017}

district 8

CIVIC CENTER DOWNTOWN FINANCIAL DISTRICT NORTH BEACH RUSSIAN HILL NOB HILL TELEGRAPH HILL TENDERLOIN NORTH WATERFRONT

-28

%

Change in Median Sale Price {2017 vs. 2016, Single Family Homes}

33

%

Change in Units Sold {2017 vs. 2016, Single Family Homes}

143 Total Units Sold

2.3m

$

Median Sale Price {Single Family Homes}


district 8

Neighborhood Highlights Financial District

{Median Sale Price | Condominiums over Five Years}

Financial District

-6

$3,000,000

%

$2,500,000

Final Sale vs. Original List

$2,000,000

5

$1,500,000

Average DOM

$1,000,000 $500,000

$

$0

2013

2014

2015

2016

2017

1,421

$/Square Foot

Nob Hill

{Median Sale Price | Condominiums over Five Years}

Nob Hill

0

$1,600,000 $1,400,000

Final Sale vs. Original List

$1,200,000

42

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

Average DOM

$400,000 $200,000

$

$0

2013

%

2014

2015

2016

2017

1,224

$/Square Foot


District

8

North Waterfront

{Median Sale Price | Condominiums over Five Years}

N. Waterfront

$1,200,000

-1

$1,000,000

Final Sale vs. Original List

32

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2013

%

2014

2015

2016

2017

939

$/Square Foot

Russian Hill

{Median Sale Price | Condominiums over Five Years}

Russian Hill

-1

$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 8 Neighborhood Highlights

1,393

$/Square Foot

/ San Francisco Q2 Market Update


at a glance {Q2 | 2017}

district 9

BERNAL HEIGHTS DOGPATCH INNER MISSION MISSION BAY POTRERO HILL SOUTH BEACH SOUTH OF MARKET (SOMA) YERBA BUENA

12

%

Change in Median Sale Price {2017 vs. 2016, Single Family Homes}

-6

%

Change in Units Sold {2017 vs. 2016, Condominiums}

324 Total Units Sold

1.6m

$

Median Sale Price {Single Family Homes}


District single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

12%

3%

2%

-

-18%

9

{2017 vs. 2016}

Change 2017

$1,550,000 80

966

11%

22

2016

$1,385,000 78

949

22%

27

2015

$1,460,000 63

991

22%

20

2014

$1,170,000

56

846

23%

25

2013

$1,030,000 87

733

15%

34

District 9 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

D9 Condos Single Family Homes

condominiums

2016

2017

D9 SFH Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Final Sale vs. Original List

Average Days on Market

-3%

-6%

-5%

-

0%

{2017 vs. 2016}

Change 2017

$1,100,000 244

1052

9%

42

2016

$1,132,000

260

1107

3%

41

2015

$1,069,000 321

1117

7%

30

2014

$905,000

345

1009

7%

27

2013

$779,000

325

830

4%

34

District 9

/ San Francisco Q2 Market Update


district 9

Neighborhood Highlights Bernal Heights

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

Bernal Heights

-14

%

$1,750,000 $1,500,000

Final Sale vs. Original List

$1,250,000

24

$1,000,000 $750,000

Average DOM

$500,000 $250,000

$

$0

2013

2014

2015

2016

2017

971

$/Square Foot

Inner Mission

{Median Sale Price | Condominiums over Five Years}

Inner Mission

-5

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

Final Sale vs. Original List

$1,000,000

36

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2013

%

2014

2015

2016

2017

980

$/Square Foot


District

9

SoMa

{Median Sale Price | Condominiums over Five Years}

SoMa

-1

$1,200,000

Final Sale vs. Original List

$1,000,000

53

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2013

%

2014

2015

2016

2017

961

$/Square Foot

South Beach

{Median Sale Price | Condominiums over Five Years}

South Beach

0

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

Final Sale vs. Original List

$1,000,000

48

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2013

%

2014

2015

2016

2017

District 9 Neighborhood Highlights

1,179

$/Square Foot

/ San Francisco Q2 Market Update


WILLEM DE KOONING Untitled, 1978 Estimate $200,000-300,000 To be offered in Contemporary Curated Auction New York 27 September 2017

2017 September Auctions

Finest & Rarest Wines Auction New York 9 September Important Chinese Art Auction New York 13 September Shake It Up: Works from the Mario Testino Collection Auction London 13 September Watches Auction London 19 September Vivien: The Vivien Leigh Collection Auction London 26 September Contemporary Curated Auction New York 27 September

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions. ENQUIRIES +1 212 606 7000 SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2017 © 2017 THE WILLEM DE KOONING FOUNDATION/ ARTISTS RIGHTS SOCIETY (ARS), NEW YORK

Dean Badessa- San Francisco Market Update Q2 2017