Market Update Q4 2017

Q4 | 2017

San Francisco

Market Update

CLARENDON HEIGHTS

Contemporary Home with Panoramic Views Last Asking $3,575,000

San Francisco Market Update 05 A Message from Jeff Gibson

12 District 1

06 Featured Properties

14 District 4

10 Market Snapshot

16 District 5 18 District 6 20 District 7 24 District 8 28 District 9 32 Extraordinary Results

CLARENDON HEIGHTS

Pivot House $3,400,000

a message from

Jeffrey Gibson

San Francisco Brokerage Manager The fourth quarter of 2017 closed another year of steady appreciation for Bay Area housing markets. Driven by seemingly insatiable demand and limited supply, single family homes in San Francisco rose 7% over the year to a median price of $1.42 million. Listings in virtually every district spent fewer days on 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, with the highest market share over $3 million, we believe that luxury is an experience, not a price point. Our independent agents work tirelessly on behalf of every client, combining their outstanding expertise in local neighborhoods with the power of our global network extending to 21,000 offices in 69 countries.

This combination can produce record results, like our sale of a Pacific Heights mansion listed at $40 million that was the most valuable home ever sold in San Francisco. But our success extends to every corner of the market, giving us the highest market share of condo sales in the City as well as the highest average price for single-family homes.

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 and ongoing changes to net neutrality, cannabis enforcement 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 Sotheby’s International Realty may be of service to you in the sale or purchase of property in the Bay Area or around the world, please contact me at 415.296.2200 so I may personally introduce you to a local expert.

SAN FRANCISCO BROKERAGE

Jeffrey Gibson, Senior Vice President & Brokerage Manager 117 Greenwich Street | San Francisco, CA 94111 | 415.901.1700 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

BAY AREA

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MARINA

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sothebyshomes.com/sanfrancisco

contemporary home with Panoramic Views / sothebyshomes.com/0088751

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

{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

Highlight Median by district SFH

2017

{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 District 9

$1,000,000

San Francisco

$-

2013 2013

2014 2014

2015 2015

2016 2016

2017 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, Condominums}

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

Average DOM

$500,000 $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

Final Sale vs. Original List

$1,200,000

40

$1,000,000 $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 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.

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

Average DOM

$400,000 $200,000

$

$0

2013

%

2014

2015

2016

2017

934

$/Square Foot

South Beach

{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

SAN FRANCISCO

Extraordinary Results We celebrate the notable success of our associates and clients

MONTEREY HEIGHTS

Ocean View Estate Last Asking $3,400,000

PRESIDIO HEIGHTS

Exceptional Presidio Heights Home Last Asking $6,900,000 EUREKA VALLEY

Eureka Valley View Home Last Asking $6,200,000 RUSSIAN HILL

Prime Russian Hill Cooperative Last Asking $5,840,205 PACIFIC HEIGHTS

Quintessential San Francisco Residence Last Asking $3,300,000 *in order from left to right, top to bottom

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