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MARKET UPDATE | Q4 2013 SAN FRANCISCO Q4 total CLOSED SALES (SFH) 760 740 720 700 680 660 640 620 600 580 560 540

2009

A MESSAGE FROM OUR MANAGER: JEFFREY GIBSON The fourth quarter of 2013 produced another strong quarter for San Francisco real estate sales compared to the fourth quarter of 2012 according to the San Francisco Multiple Listing Service. Prices continued to increase throughout the City, with average sales prices for singlefamily homes (SFHs) up 7.6 percent and condominium sales prices up 11.2 percent. SFHs in particular continue to experience a shortage of inventory; the accompanying charts show a decline in the number of closed sales in five of the six districts. Condominium sales were up in Districts 6, 7, 8 and 9. District 9 was a hotspot in the fourth quarter, with an increase in sales of both condominiums and SFHs.

2010

2011

2012

2013

2009

2010

2011

2012

2013

San Francisco (Total)

649

615

665

736

679

District 4

84

70

84

110

92

District 5

82

92

92

107

92

District 6

25

10

7

19

13

Districts 7 and 8

32

32

38

57

45

District 9

67

66

58

51

69

Source: SFARMLS - October 1-December 31 each year.

Q4 Total CLOSED SALES (Condo) 900 800 700 600 500 400 300 200

Now that the Fed’s $85 billion bond buying has been reduced to $75 billion, it will be interesting to see how this will affect lending rates and whether that will have an influence on sales prices in this robust market.

SAN FRANCISCO Brokerage t: 415.901.1700 117 Greenwich Street San Francisco, CA 94111

100 0

2009

2010

2011

2009

2010

San Francisco (Total)

696

District 4

21

District 5

147

2012

2013

2011

2012

2013

554

595

796

839

14

8

15

14

96

102

131

121

District 6

70

52

59

84

100

Districts 7 and 8

201

170

183

222

226

District 9

184

162

182

265

299

Source: SFARMLS - October 1-December 31 each year.


DISTRICT 4

SINGLE FAMILY HOME SALES About District 4 District 4, also referred to as West of Twin Peaks is located in what used to be a heavily wooded and picturesque area of San Francisco. District 4 encompasses 16 neighborhoods: 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 and Westwood Park.

Average Days on Market

Monterey Heights Home

70 60 50 40 30 20 10

Sales Price: $1,545,000 Agent: Daria Saraf

0

2009

2010

2011

San Francisco

2012

2013

District 4

3 br / 3 ba Average sales price

This stately three bedroom, three bath Monterey Heights home offers open southern views of the lovely neighboring homes and distant hills. The classic floor plan creates a natural flow to the home for easy modern living.

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

2009

2010

San Francisco

2011

2012

2013

District 4

District 4 single family homes (SFh) 2009

2010

2011

2012

2013

Average List Price

$990,738

$1,005,153

$870,248

$1,049,765

$1,122,029

Average Sales Price

$985,171

$990,396

$877,021

$1,081,658

$1,195,500

Average Days on Market

56

63

58

47

35

Total SFH Sold

83

70

84

110

92

Serving san francisco, marin,the peninsula and east bay | sothebyshomes.com/sanfrancisco


DISTRICT 4

CONDOMINIUM SALES district 4 market overview

Average sales prices in District 4 continued to climb in the fourth quarter of 2013, compared to the fourth quarter of 2012. The average sales price of SFHs increased by 10.5 percent, from $1,081,658 to $1,195,500. Condominium sales prices increased by 1.5 percent, and the average price per square foot jumped 11.3 percent, from $485.68 to $540.66. The total number of closed SFH sales declined by 16 percent, from 110 sold units in 2012 to 92 units in 2013. The total number of closed condominium sales changed from 15 sold units in 2012 to 14 units in 2013. The average days on market dropped markedly for both SFHs and condominiums - SFHs saw a 22.1 percent decline and condominiums saw a 29.9 percent decrease.

Average Days on Market

Mid-Century View Home

100 90 80 70 60 50 40 30 20 10

Sales Price: $1,950,000 Agent: Amanda Jones

0

2009

2010

2011

2012

San Francisco

3 br / 3 ba

2013

District 4

Average sales price

Spectacular, renovated mid-century view home located on the border of St. Francis Wood and Sherwood Forest. This home is perched above it all taking in lots of light and magnificent ocean views from all levels including the yard and basement. With soaring ceilings, floor to ceiling windows, ocean views and two wood-burning fireplaces, this is an entertainer’s dream.

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-

2009

2010

2011

San Francisco

2012

2013

District 4

district 4 condominiums 2009

2010

2011

2012

2013

Average List Price

$519,552

$543,079

$393,000

$461,427

$468,060

Average Sales Price

$517,747

$527,179

$393,875

$475,367

$482,596

Average Days on Market

67

92

62

76

53

Total Condominiums Sold

21

14

8

15

14


DISTRICT 5

SINGLE FAMILY HOME SALES About District 5 District 5, commonly known as the Central District, is in the geographic center of San Francisco. The sunny region, with its charm and vitality, is popular with both tourists and residents. The district is home to the neighborhoods of Ashbury Heights, Buena Vista Park, Clarendon Heights, Corona Heights, Cole Valley, Castro, Dolores Heights, Duboce Triangle, Glen Park, Haight Ashbury, Noe Valley, Twin Peaks and Mission Dolores. District 5 properties experienced some of the strongest growth in prices in 2013.

Average Days on Market

Noe Valley Renovation

70 60 50 40 30 20 10

Sales Price: $3,225,000 Agents: Jon Taylor & Gloria Smith

0

2009

2010

2011

San Francisco

3 br / 3.5 ba

2012

2013

District 5

Average sales price

1612 Church showcases the sophistication and allure of contemporary design. The façade’s expansive walls of glass and modern lines announce the aesthetic that awaits inside. A stunning 30-foot-high entry with a steel and glass staircase introduces each level. A spacious media/family room has built-in cabinetry with wet bar, full bath and opens through sliding glass doors to a walled-in private patio with built-in seating and a ribbon flame outdoor fireplace.

$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 $-

2009

2010

San Francisco

2011

2012

2013

District 5

District 5 single family homes (SFh) 2009

2010

2011

2012

2013

Average List Price

$1,219,926

$1,447,021

$1,382,486

$1,469,944

$1,761,042

Average Sales Price

$1,216,919

$1,438,216

$1,383,789

$1,547,670

$1,864,321

Average Days on Market

59

56

57

36

33

Total SFH Sold

82

92

92

107

92

Serving san francisco, marin,the peninsula and east bay | sothebyshomes.com/sanfrancisco


DISTRICT 5

CONDOMINIUM SALES district 5 market overview

Average sales prices in District 5 increased significantly in the fourth quarter of 2013 compared to the fourth quarter of 2012. The average sales price of SFHs jumped 20.5 percent, an increase of $316,651 from 2012. The average condominium sales price exceeded the $1,000,000 mark, from $851,196 in 2012 to $1,071,095 in 2013. The shortage of inventory resulted in a decline in total number of closed sales of both SFHs and condominiums. SFH closed sales decreased by 14 percent and condominium closed sales decreased by 7.6 percent. The average days on market of SFHs declined by 10 percent, while the average days on market for condominium sales dropped 22 percent in year-over-year comparisons.

Average Days on Market

Ashbury Heights Condominium

100 90 80 70 60 50 40 30 20 10

Sales Price: $1,375,000 Agent: Paul Ybarbo

0

2009

2010

2011

2012

San Francisco

3 br / 2.5 ba

2013

District 5

Average sales price

Enjoy an outstanding location adjacent to the boutiques and bistros of Cole Valley, Buena Vista Park and the colorful Haight from this refined, full floor condo in a gorgeous Beaux Arts-style building. This updated flat boasts tasteful designer finishes and architectural craftsmanship of a bygone era. Consistent with this era of construction, all rooms are generously proportioned.

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-

2009

2010

2011

2012

San Francisco

2013

District 5

district 5 condominiums 2009

2010

2011

2012

2013

Average List Price

$723,992

$821,996

$768,415

$803,437

$976,641

Average Sales Price

$720,315

$815,286

$764,314

$851,196

$1,071,095

Average Days on Market

79

80

77

48

37

Total Condominiums Sold

147

96

102

131

121


DISTRICT 6

SINGLE FAMILY HOME SALES About District 6 District 6, also referred to as the Central North, is a vibrant area with easy access to public transportation, trendy boutiques, excellent restaurants and gorgeous city views. The neighborhoods that encompass District 6 include Alamo Square, Hayes Valley, Western Addition, Lower Pacific Heights, Anza Vista and North Panhandle (NoPa). Homes vary from stunning mansions and Victorian houses to quaint single family homes and chic condominiums.

Average Days on Market

Fell Street on the Park

80 70 60 50 40 30 20 10

Sales Price: $395,000 Agent: Amanda Jones

0

2009

2010

2011

San Francisco

1 br / ba

2012

2013

District 6

Average sales price

This charming, top floor Edwardian home is part of a community residing in a unique turn of the century, converted mansion. The building sits on a double lot and an opulent entrance hall with a grand staircase and a private garden oasis in the rear. It has a fabulous central location directly across from the Panhandle of Golden Gate Park and just minutes away from the Haight, Cole Valley, Lone Mountain and USF.

$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 $-

2009

2010

San Francisco

2011

2012

2013

District 6

district 6 single family homes (SFh) 2009

2010

2011

2012

2013

Average List Price

$1,262,016

$1,260,490

$1,703,857

$1,652,211

$1,755,923

Average Sales Price

$1,250,200

$1,209,500

$1,704,057

$1,698,895

$1,888,385

Average Days on Market

60

75

66

36

26

Total SFH Sold

25

10

7

19

13

Serving san francisco, marin,the peninsula and east bay | sothebyshomes.com/sanfrancisco


DISTRICT 6

CONDOMINIUM SALES district 6 market overview

SFHs and condominium in District 6 continued to see an increase in average sales prices in the fourth quarter of 2013. The average sales price of SFHs increased by 11.2 percent, from $1,698,895 in 2012 to $1,888,385 in 2013. Average sales price of condominiums increased by 15.8 percent, from $718,443 in 2012 to $831,735 in 2013. SFHs closed sales declined by 31.6 percent while the number of condominium closed sales increased by 19.1 percent. The average days on market of SFHs declined 26.6 percent, from 36 days in 2012 to 26 days in 2013. Condominiums are selling at a much faster rate in year-over-year comparisons- from an average of 64 days on market in 2012 to an average of 29 days on market in 2013, which is a 54.7 percent drop.

Average Days on Market

Penthouse in NOPA

100 90 80 70 60 50 40 30 20 10

Sales Price: $875,000 Agent: Mary Laughlin Fenton

0

2009

2010

2011

2012

San Francisco

2 br / 2 ba

2013

District 6

Average sales price

This condo in a newer 3-unit building offers many luxuries in a highly sought location. French doors open directly onto a large deck with partial views. Skylights infuse light throughout. It features custom granite counters with breakfast bar, stainless steel appliances including gas range and ventahood microwave and hardwood floors.

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-

2009

2010

2011

2012

San Francisco

2013

District 6

district 6 condominiums 2009

2010

2011

2012

2013

Average List Price

$639,634

$647,008

$648,249

$690,084

$782,040

Average Sales Price

$629,607

$633,616

$649,085

$718,443

$831,735

Average Days on Market

59

68

69

64

29

Total Condominiums Sold

70

52

59

84

100


DISTRICTS 7 AND 8

SINGLE FAMILY HOME SALES About Districts 7 AND 8 Districts 7 and 8 host some of the most prestigious homes in the city. District 7 includes Cow Hollow, the Marina, Pacific Heights and Presidio Heights neighborhoods. The Golden Gate Bridge and the San Francisco Bay are to the north and downtown is to the east, making it ideal for both work and recreation. District 8, which includes the business and financial center of San Francisco and serves as a popular tourist destination. Residential neighborhoods include North Beach, Russian Hill, Nob Hill, Telegraph Hill and North Waterfront.

Average Days on Market

Golden Gate View Home

90 80 70 60 50 40 30 20 10

Sales Price: $7,500,000 Agent: Janet Feinberg Schindler

0

2009

2010

San Francisco

6 br / 4.5 ba

2011

2012

2013

Districts 7 & 8

Average sales price

East meets west in this Zen-inspired, contemporary renovation of a classic Edwardian 6-bedroom, 4.5-bath home featuring spectacular Golden Gate views. Excellent location. The elegant main level has gracious formal rooms, exceptional architectural detail and a floor plan ideal for entertaining: French doors open to the deck and award-winning garden. Private Sale.

$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 $-

2009

2010

San Francisco

2011

2012

2013

Districts 7 & 8

districts 7&8 single family homes (SFh) 2009

2010

2011

2012

2013

Average List Price

$3,547,295

$3,061,747

$3,978,059

$4,456,228

$4,285,031

Average Sales Price

$3,462,275

$3,036,891

$3,777,430

$4,332,079

$4,316,067

Average Days on Market

84

73

59

53

45

Total SFH Sold

32

32

38

57

45

Serving san francisco, marin,the peninsula and east bay | sothebyshomes.com/sanfrancisco


DISTRICTS 7 AND 8

CONDOMINIUM SALES districts 7 and 8 market overview

Average sales prices of SFHs remained fairly consistent, from $4,332,079 in 2012 to $4,316,067 in 2013. The average sales price of condominiums in Districts 7 and 8 increased by 9.1 percent in the fourth quarter of 2013, from $1,110,151 in 2012 to $1,210,598 in 2013. The number of closed sales of SFHs decreased by 21.1 percent, while the number of closed sales of condominiums increased by 1.8 percent. The average days on market dropped significantly for both single-family homes and condominiums. SFHs saw an average of 45 days on market in 2013, a 15 percent decline from 2012. The average days on market decreased by 20.8 percent for condominiums, from 56 days in 2012 to 44 days in 2013.

Average Days on Market

Russian Hill Cooperative

100 90 80 70 60 50 40 30 20 10

Price: $4,995,000 Agents: Richard Bastoni and Jeffrey Wahl

0

2009

2010

2011

2012

San Francisco

2 br / 2 ba | 1 br / 1 ba

2013

Districts 7 & 8

Average sales price

Two apartments being sold together with dramatic views of the North Bay, Alcatraz, downtown and Coit Tower. Apartment 805: spacious northeast corner living room with deck and fireplace, a kitchen which opens to a dining room, beautiful panelled library with views. Apartment 804: 1 bedroom with a wet bar, powder room and deck with views.

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-

2009

2010

San Francisco

2011

2012

2013

Districts 7 & 8

districts 7&8 condominiums 2009

2010

2011

2012

2013

Average List Price

$920,190

$932,139

$880,693

$1,109,972

$1,183,534

Average Sales Price

$897,968

$902,369

$859,102

$1,110,151

$1,210,598

Average Days on Market

90

87

90

56

44

Total Condominiums Sold

201

170

183

222

226


DISTRICT 9

SINGLE FAMILY HOME SALES About District 9 District 9, the central-eastern portion of San Francisco includes the neighborhoods Bernal Heights, the Central Waterfront/Dogpatch, Inner Mission, Mission Bay, Potrero Hill, South Beach and South of Market (SoMa). The area includes some of the oldest homes in San Francisco, having escaped the 1906 earthquake and fire destruction. District 9’s real estate includes cottages, bungalows and single-family homes in Bernal Heights and Potrero Hill, and warehouse-converted lofts and condominiums in SoMa, South Beach and Yerba Buena.

Average Days on Market

200 Brannan Loft

70 60 50 40 30 20 10

Sales Price: $1,300,000 Agent: Eric Johnson

0

2009

2010

2011

San Francisco

2 br / 2 ba

2012

2013

District 9

Average sales price

Perched above the trees, this stunning 2+ bedroom, 2 bath residence at 200 Brannan Lofts features a grand living room with 18foot high ceilings. The upstairs bonus room is perfect for use as a media room/lounge/ office. The spacious master bedroom is fully enclosed and filled with light. The chef’s kitchen is outfitted with granite counters, a gas range and stainless steel appliances.

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

2009

2010

San Francisco

2011

2012

2013

District 9

district 9 single family homes (SFh) 2009

2010

2011

2012

2013

Average List Price

$828,590

$805,180

$727,643

$875,138

$1,120,636

Average Sales Price

$829,501

$814,731

$756,364

$934,608

$1,265,595

Average Days on Market

62

55

52

41

27

Total SFH Sold

67

66

58

51

69

Serving san francisco, marin,the peninsula and east bay | sothebyshomes.com/sanfrancisco


DISTRICT 9

CONDOMINIUM SALES district 9 market overview

District 9 experienced positive market trends in the fourth quarter of 2013, with increases in both sales prices and closed sales of SFHs and condominiums. SFHs in District 9 saw a 35.4 percent jump in the average sales price, from $934,608 in 2012 to $1,265,595 in 2013. The average sales price of condominiums increased by 8.3 percent, from $908,471 in 2012 to $983,846 in 2013. The number of SFH closed sales increased by 35.3 percent and the number of condominium closed sales increased by 12.8 percent. The average days on market of SFHs dropped 35.6 percent - from 41 days in 2012 to 27 in 2013. The average days on market of condominiums declined by 26.3 percent in year-over-year comparisons- from 53 days in 2012 to 39 in 2013.

Average Days on Market

Panoramic Views at The St. Regis

100 90 80 70 60 50 40 30 20 10

Price: $2,800,000 Agent: Gregg Lynn

0

2009

2010

2011

2012

San Francisco

2 br / 2.5 ba

2013

District 9

Average sales price

The oversized door to #33C opens to a foyer of luxurious Venetian plaster and dark wood floors. In the living room, an upholstered accent wall highlights the custom designed finishes and furnishings. Oversized windows provide southern and western exposures with spectacular urban views. An open plan kitchen boasts Poggenpohl cabinetry, Kashmere Gold polished granite countertops and appliances by SubZero and Miele.

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-

2009

2010

2011

San Francisco

2012

2013

District 9

district 9 condominiums 2009

2010

2011

2012

2013

Average List Price

$712,836

$707,892

$879,026

$907,292

$957,431

Average Sales Price

$687,086

$689,914

$820,527

$908,471

$983,846

Average Days on Market

86

91

77

53

39

Total Condominiums Sold

181

162

182

265

299


ON THE MARKET FEATURED PROPERTIES

LISTINGS AROUND THE WORLD IN THIS PRICE RANGE

San francisco, CA

in metropolitan markets

Spectacular Remodeled Home

Houston

Brooklyn

San Francisco

4 br / 4 ba / 2 hf ba $3,850,000

3 br / 2 ba / 1 hf ba $3,400,000

3 br / 2 ba / 1 hf ba $3,000,000

SANTA FE

PALM BEACH

Ojai

3 br / 4 ba / 1 hf ba $3,000,000

4 br / 4 ba / 1 hf ba $2,950,000

3 br / 3 ba $3,600,000

South Africa

Puerto Rico

Australia

$2,593,121

7 ba / 1 hf ba $3,600,000

3 br / 3 ba Price Upon Request

Price: $2,800,000 Agent: Louis Silcox Jr. 2+ br / 2.5 ba Spectacular Bay, Bay Bridge and garden views abound from this 3-level, bespoke luxury residence. The main floor consists of the great room with fireplace, dining, state-ofthe-art kitchen and powder room. There are front and rear garden terraces from this level.The second floor consists of a living room, large bedroom and spa-style bath.The entire third level consists of the splendid master suite with a luxe bath and a roof terrace.

in resort markets

in foreign markets

AT Sotheby’s AUCTION

Songye “Four Horn” Community Power Figure The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000

The Pink Star Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30

SOTHEBYS.COM


San Francisco Market Update Q4 2013