Market Update Q2 2018

ALAMO SQUARE

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

Q2 | 2018

San Francisco

Market Update

a message from

Jeffrey Gibson

San Francisco Brokerage Manager Sotheby’s International Realty is synonymous with luxury real estate in the Bay Area. We believe that luxury is an experience, not a price point. Buying and selling real estate can be an emotional experience as well as a business decision, and we focus on the human interaction that is essential to a successful transaction. Whether our clients are searching for an estate in Pacific Heights or a 1-bedroom condominium, we provide the same bespoke service. Drawing on our global network of 950 offices in 69 countries, we offer our clients an incomparable global reach, including the power of a website visited by 27 million people a year, 60% of whom are from overseas*.

As the San Francisco market warmed up from the slower months of Q1, median prices continued a steady rise overall, to $1.62 million for single-family homes according to the San Francisco Association of Realtors (SFAR). Areas such as Districts 1 and 4 also saw a significant increase in units brought to market: District 1, which includes the dynamic Outer Richmond area, saw the number of condo sales fully double compared to Q2 2017 while single-family home sale units rose 26%. In District 4, unit sales in both categories were up 15%. Single-family homes and condominiums sold for well over their asking price in both areas, by 14% in District 1 and a remarkable 19% in District 4.

As we move through the summer months, we look forward to being of service to you in the sale or purchase of real estate, whether in the Bay Area or around the world. We take great pride in using our expertise, resources, and global connections to unite extraordinary homes with the extraordinary people who will live in them.

SAN FRANCISCO BROKERAGE

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

sothebyshomes.com/sanfrancisco Source: San Francisco Multiple Listing Service (SFMLS)/InfoSparks; Q2 data refer to sales from 4/1 - 6/30 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. Jeffrey Gibson DRE: 01407690

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District 7, which includes Pacific Heights, experienced a modest 10% decline in total unit sales as reported to the MLS, but condominium sale prices continued to swell well beyond listing prices, by 16% in Cow Hollow and Presidio Heights, and 14% in the Marina. Days on market were also exceptionally low in the same areas, at only 13 days in Cow Hollow and 18 days in the Marina. In District 8, which includes SoMa and Bernal Heights, median prices rose a robust 55% on a low volume of single-family homes, and ticked up 13% for condominiums.

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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

-25%

-20%

{Median Final Sale vs. Original List}

-15%

-10%

-5%

0%

+5%

+10%

+15%

+20%

+25%

Q2 2018 Highlights San Francisco

Highlight Median: SFH vs Condos San Fran

San Francisco

{Single Family Homes vs. Condos}

Median Sale Prices $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000

$600,000 $400,000 $200,000 $0

2013

2014

2015

SFH Median Sales Price

2016

2017

Condo Median Sales Price

Single Family Homes

$1.235,000

$1.620,000

$800,000

2018

Condos

Highlight Median by district SFH

Districts

{Districts vs. San Francisco Overall}

Median Sale Prices $7, 000,000 $6,000,000

District 1

$5,000, 000

District 4 District 5

$4,000,000

District 6

$3,000,000

District 7

$2,000,000

District 8 District 9

$1, 000,000

San Francisco

$-

2014 District 1

2015 District 4

2016 District 5

2017 District 6

2018 District 7

Q2 Highlights

District 8

District 9

/ San Francisco Q2 Market Update

at a glance {Q2 | 2018}

DISTRICT 1

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

1

%

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

100

%

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

117

Total Units Sold

2

$ m Median Sale Price { Single Family Homes }

District Q2

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

13%

26%

12%

-

-16%

2018

$2,001,224

63

1,000

11%

20

2017

$1,768,000

50

889

11%

24

2016

$1,822,000

57

855

10%

26

2015

$1,885,000

67

918

14%

16

2014

$1,605,000

57

782

23%

19

single family homes

1

{ 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

Q2

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%

100%

7%

-

2%

2018

$1,247,500

54

1,003

25%

21

2017

$1,230,000

27

934

17%

21

2016

$1,027,500

40

851

4%

39

2015

$1,125,000

38

854

13%

26

2014

$884,500

48

739

4%

38

condominiums { 2018 vs. 2017 }

Change

District 1

/ San Francisco Q2 Market Update

District Q2

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

13%

15%

6%

-

-13%

2018

$1,813,250

100

1,019

22%

17

2017

$1,605,000

87

960

19%

19

2016

$1,500,000

90

840

15%

25

2015

$1,442,500

94

833

13%

20

2014

$1,362,500

76

734

16%

27

single family homes

4

{ 2018 vs. 2017 }

Change

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $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 $0

2014

2015

2016

SFH Median Sales Price

Q2

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

6%

15%

18%

-

-60%

2018

$770,000

15

876

3%

19

2017

$725,000

13

740

7%

48

2016

$662,500

8

783

1%

37

2015

$792,500

14

690

9%

35

2014

$574,500

18

635

14%

22

condominiums { 2018 vs. 2017 }

Change

San Francisco Q2 Market Update / District 4

at a glance {Q2 | 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

10

%

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

15

%

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

115

Total Units Sold

1.8m

$

Median Sale Price { Single Family Homes }

at a glance {Q2 | 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

11

%

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

-2

%

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

220 Total Units Sold

2.4m

$

Median Sale Price { Single Family Homes }

District Q2

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

-2%

-10%

6%

-

-21%

2018

$2,350,000

82

1,219

18%

22

2017

$2,400,000 91

1,150

9%

28

2016

$1,950,000

92

1,069

9%

28

2015

$2,155,000

84

1,125

20%

19

2014

$1,935,000

87

992

15%

20

single family homes

5

{ 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

2018

Condo Median Sales Price

Single Family Homes

Q2

2017 Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

11%

-2%

8%

-

-16%

2018

$1,425,000

138

1,165

19%

21

2017

$1,280,000

141

1,080

16%

25

2016

$1,300,000

104

1,031

9%

27

2015

$1,225,000

165

1,030

23%

20

2014

$1,010,000

136

933

13%

25

condominiums { 2018 vs. 2017 }

Change

District 5

/ San Francisco Q2 Market Update

District Q2

single family homes

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

139%

0%

-1%

-

-50%

6

{ 2018 vs. 2017 }

Change 2018

$4,300,000 7

1,226

3%

20

2017

$1,800,000

1,242

0%

39

2016

$2,305,000 9

990

0%

49

2015

$1,821,500

8

855

8%

29

2014

$2,725,000

11

1,067

19%

21

7

Median Sales Price: SFH vs. Condos Median Sale Price | Single Family Homes vs. Condos $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 $0

2014

2015

2016

SFH Median Sales Price

2018

Condo Median Sales Price

Single Family Homes

Q2

2017 Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

9%

-13%

3%

-

12%

2018

$1,240,001

84

1,042

11%

33

2017

$1,140,000

97

1,007

14%

29

2016

$1,175,000

71

973

18%

34

2015

$1,045,000

75

966

16%

28

2014

$910,000

77

851

14%

34

condominiums { 2018 vs. 2017 }

Change

San Francisco Q2 Market Update / District 6

at a glance {Q2 | 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, Condominiums }

-13

%

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

91

Total Units Sold

4.3m

$

Median Sale Price { Single Family Homes }

at a glance {Q2 | 2018}

DISTRICT 7

The Marina Cow Hollow Pacific Heights Presidio Heights

10

%

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

-13

%

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

121

Total Units Sold

5.9m

$

Median Sale Price { Single Family Homes }

District Q2

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

10%

0%

13%

-

-60%

2018

$5,869,000

30

1,620

0%

15

2017

$5,324,000

30

1,439

-4%

38

2016

$4,725,000

33

1,457

-1%

48

2015

$4,750,000

31

1,543

-5%

19

2014

$3,700,000

34

1,226

4%

45

single family homes { 2018 vs. 2017 }

Change

7

Median Sales Price: 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

2014

2015

2016

SFH Median Sales Price

Single Family Homes

Q2

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%

-13%

4%

-

-28%

2018

$1,506,300

91

1,318

16%

19

2017

$1,525,000

105

1,263

5%

26

2016

$1,562,500

82

1,197

5%

30

2015

$1,507,507

64

1,177

20%

21

2014

$1,310,000

99

993

9%

28

condominiums { 2018 vs. 2017 }

Change

District 7

/ San Francisco Q2 Market Update

district 7

Neighborhood Highlights Cow Hollow

{Median Sale Price | Condominiums over Five Years}

Cow Hollow

16

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

Median Sale vs. Original List

$1,200,000

13

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

Average DOM

$400,000 $200,000

$

$0

2014

%

2015

2016

2017

2018

1,152

$/Square Foot

Marina

{Median Sale Price | Condominiums over Five Years}

Marina

14

%

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

Median Sale vs. Original List

$1,400,000

18

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

Average DOM

$600,000 $400,000

$

$200,000 $0

2014

2015

2016

2017

2018

1,227

$/Square Foot

District

7

Pacific Heights

{Median Sale Price | Condominiums over Five Years}

Pacific Heights

6

%

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

Median Sale vs. Original List

$1,400,000

20

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

Average DOM

$600,000 $400,000

$

$200,000 $0

2014

2015

2016

2017

2018

1,365

$/Square Foot

Presidio Heights

{Median Sale Price | Condominiums over Five Years}

Presidio Heights

16

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

Median Sale vs. Original List

24

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

Average DOM

$1,000,000 $500,000

$

$0

2014

%

2015

2016

2017

2018

District 7 Neighborhood Highlights

1,422

$/Square Foot

/ San Francisco Q2 Market Update

District Q2

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

55%

-13%

19%

-

11%

2018

$3,564,875

7

1,499

19%

45

2017

$2,300,000 8

1,257

-6%

41

2016

$3,185,000

6

1,241

-4%

44

2015

$2,222,000 7

1,300

11%

17

2014

$3,191,000

1,237

4%

86

single family homes { 2018 vs. 2017 }

Change

8

8

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

2018

Condo Median Sales Price

Single Family Homes

Q2

2017 Condos

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

13%

-12%

3%

-

-27%

2018

$1,100,000

129

1,161

10%

32

2017

$971,000

146

1,127

2%

43

2016

$1,085,000

131

1,100

9%

30

2015

$1,112,500

138

1,145

12%

34

2014

$945,000

146

943

9%

42

condominiums { 2018 vs. 2017 }

Change

San Francisco Q2 Market Update / District 8

at a glance {Q2 | 2018}

DISTRICT 8

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

13

%

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

-12

%

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

136 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

-3

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

Median Sale vs. Original List

$1,400,000

52

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

Average DOM

$600,000 $400,000 $200,000

$

$0

2014

%

2015

2016

2017

2018

1,304

$/Square Foot

Nob Hill

{Median Sale Price | Condominiums over Five Years}

Nob Hill

8

%

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

Median Sale vs. Original List

$1,400,000

39

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

Average DOM

$600,000 $400,000

$

$200,000 $0

2014

2015

2016

2017

2018

1,164

$/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

20

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,021

$/Square Foot

Russian Hill

{Median Sale Price | Condominiums over Five Years}

Russian Hill

5

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

%

Median Sale vs. Original List

29

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

Average DOM $500,000

$

$0

2014

2015

2016

2017

2018

District 8 Neighborhood Highlights

1,340

$/Square Foot

/ San Francisco Q2 Market Update

at a glance {Q2 | 2018}

DISTRICT 9

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

9

%

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

-6

%

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

406 Total Units Sold

1.7m

$

Median Sale Price { Single Family Homes }

District Q2

Median Sale Price

Total Units Sold

Average Price Per Sq. Ft.

Median Sale vs. Average Days Original List on Market

8%

-6%

7%

-

-31%

2018

$1,675,000

75

1,091

12%

16

2017

$1,550,000

80

1,019

11%

22

2016

$1,385,000

78

988

22%

27

2015

$1,460,000

63

1,015

22%

20

2014

$1,170,000

56

875

23%

25

single family homes

9

{ 2018 vs. 2017 }

Change

Median Sales Price: 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

2014

2015

2016

SFH Median Sales Price

Single Family Homes

Q2

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

9%

28%

11%

-

-26%

2018

$1,200,000

331

1,171

9%

30

2017

$1,100,000

259

1,051

7%

41

2016

$1,132,000

260

1,090

3%

41

2015

$1,069,000

321

1,100

7%

30

2014

$905,000

345

997

7%

27

condominiums { 2018 vs. 2017 }

Change

District 9

/ San Francisco Q2 Market Update

district 9

Neighborhood Highlights Bernal Heights

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

Bernal Heights SFH

-14

%

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

Median Sale vs. Original List

$1,200,000

15

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

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

1,101

$/Square Foot

Inner Mission

{Median Sale Price | Condominiums over Five Years}

Inner Mission

7

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

Median Sale vs. Original List

$1,000,000

28

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

%

2015

2016

2017

2018

1,104

$/Square Foot

District

9

SoMa

{Median Sale Price | Condominiums over Five Years}

South of Market

6

%

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

Median Sale vs. Original List

$800,000

26

$600,000 $400,000

Average DOM

$200,000

$

$0

2014

2015

2016

2017

2018

1,076

$/Square Foot

South Beach

{Median Sale Price | Condominiums over Five Years}

South Beach

-2

%

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

Median Sale vs. Original List

$1,000,000

40

$800,000 $600,000

Average DOM

$400,000 $200,000

$

$0

2014

2015

2016

2017

2018

District 9 Neighborhood Highlights

1,247

$/Square Foot

/ San Francisco Q2 Market Update

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