2016 Q1 Condo Update

2016 Q1 Condo Update PAUL HWANG | RANKED #1 IN SOUTH BEACH 415.216.8746 | PAUL@SKYBOXREALTY.COM

MILLENNIUM TOWER | 14 - 15

THE INFINITY | 8 - 9

THE METROPOLITAN | 10 - 11 THE WATERMARK | 18 - 19 ONE RINCON HILL | 12 - 13 ONE HAWTHORNE | 16 - 17

5

Dear Neighbors, The South Beach / Yerba Buena Market slowed down in Q1 2016 with 62 units sold at an average $1,250/SF compared to Q1 2015 with 83 units sold at an average $1,204/SF. DOM increased also at 43 compared to 38.

The presence of overseas buyers for resale properties that drove previous markets were absent in Q1.

Resales were also affected by large developments such as Lumina taking a large portion of the buyer pool.

Resales may face additional downward pressure from new developments such as 181 Fremont, The Harrison, and One Mission Bay. Please contact me for a detailed analysis of your property.

Best Regards, Paul Hwang | Principal Broker Ranked #1 in South Beach 415.216.8746

This document has been prepared by Skybox Realty for advertising and general information only.

Skybox Realty makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Skybox Realty excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

SOUTH BEACH

2016 Q1 FAST FACTS # SOLD

AVG $/SF

AVG SALE PRICE

49 $1,277 $1,252,466 CUMULATIVE $/SF DATA FOR PAST YEAR

$1300 $1200 $1100 $1000

2015 Q2

2015 Q3

2015 Q4

2016 Q1

7

YERBA BUENA

2016 Q1 FAST FACTS # SOLD

AVG $/SF

AVG SALE PRICE

13 $1,142 $1,280,139 CUMULATIVE $/SF DATA FOR PAST YEAR $1400 $1300 $1200 2015 Q2

2015 Q3

2015 Q4

2016 Q1

$1100

All Data From SFARMLS

301 / 333 MAIN | 318 / 338 SPEAR

THE INFINITY SOLD ACTIVE ACTIVE CONTINGENT PENDING D37E | $3,000,000 (2BR) $2239/sf D37F | $2,395,000 (3BR) $1483/sf D35E | $2,699,000 (2BR) $2014/sf

D26G | $1,350,000 (1BR) $1673/sf

D21F | $2,599,000 (2BR) $1985/sf D21C | $1,525,000 (1BR) $1887/sf

D17B | $2,850,000 (2BR) $2154/sf

A4C | $998,000 (1BR) $1226/sf

# SOLD

3

AVG $/SF

AVG SALE PRICE

$1,588 $1,474,667

AVG DOM

7

COMPARED TO 2015 Q1 8

$1,543

$2,088,625

45

B37B | $7,995,000 (3BR) $2364/sf

B32E | $3,195,000 (3BR) $1903/sf B32A | $2,599,000 (2BR) $2050/sf

B26E | $1,799,000 (2BR) $1525/sf B26F | $2,250,000 (2BR) $1721/sf

B22F | $1,995,000 (2BR) $1526/sf B21F | $1,899,888 (2BR) $1454/sf

B18A | $1,649,000 (2BR) $1393/sf B17B | $2,050,000 (2BR) $1557/sf

C8E | $749,000 (0BR) $1319/sf C7G | $899,000 (1BR) $1074/sf

C7K | $959,000 (1BR) $1157/sf

C5L | $949,000 (2BR) $1114/sf

B5C | $2,300,000 (2BR) $1313/sf All Data From SFARMLS

C2B | $1,199,000 (1BR) $1062/sf

9

333 - 355 1ST

THE METROPOLITAN SOLD ACTIVE ACTIVE CONTINGENT PENDING

N1801 | $1,399,000 (2BR) $1460/sf N1702 | $890,000 (1BR) $1248/sf N1405 | $900,000 (1BR) $1269/sf

N807 | $375,798 (2BR) bmr

# SOLD

6

AVG $/SF

AVG SALE PRICE

$1,301 $1,004,917

AVG DOM

41

COMPARED TO 2015 Q1 4

$1,311

$1,318,500

29

S2201 | $1,950,000 (2BR) $1305/sf

S1702 | $1,548,000 (2BR) $1346/sf S1703 | $990,000 (1BR) $1245/sf S1503 | $1,124,500 (1BR) $1414/sf

S208 | $555,000 (0BR) $1285/sf All Data From SFARMLS

11

425 1ST | 489 HARRISON

ONE RINCON HILL SOLD ACTIVE ACTIVE CONTINGENT PENDING # SOLD

4

AVG $/SF

AVG SALE PRICE

$1,688 $2,174,250

AVG DOM

77

COMPARED TO 2015 Q1 6

$1,410

$1,111,667

32

13 6003 | $3,700,000 (3BR) $2206/sf 5803 | $3,898,000 (3BR) $2324/sf

4905 | $1,007,000 (1BR) $1418/sf

4404 | $925,000 (1BR) $1529/sf

4402 | $2,950,000 (2BR) $2254/sf

4202 | $2,495,000 (2BR) $1906/sf

3206 | $1,800,000 (2BR) $1454/sf

2708 | $1,269,000 (1BR) $1681/sf 2507 | $1,199,000 (1BR) $1464/sf

1902 | $2,190,000 (2BR) $1673/sf 1903 | $1,800,000 (2BR) $1408/sf

1402 | $2,095,000 (2BR) $1600/sf 1306 | $1,595,000 (2BR) $1288/sf

All Data From SFARMLS

301 MISSION

MILLENNIUM SOLD ACTIVE ACTIVE CONTINGENT PENDING

906 | $2,350,000 (1BR) $1439/sf 704 | $2,295,000 (2BR) $1545/sf 606 | $1,900,000 (1BR) $1164/sf 601 | $2,600,000 (2BR) $1330/sf

49B | $8,995,000 (3BR) $2713/sf

# SOLD

3

AVG $/SF

AVG SALE PRICE

$1,369 $2,666,667

AVG DOM

93

COMPARED TO 2015 Q1 4

$1,641

$2,545,000

57

53C | $7,495,000 (2BR) $2659/sf

49A | $7,195,000 (2BR) $2659/sf

45D | $4,375,000 (2BR) $2131/sf

38B | $2,895,000 (2BR) $1752/sf

33C | $3,500,000 (3BR) $1613/sf 31E | $2,595,000 (2BR) $1514/sf

27E | $2,495,000 (2BR) $1456/sf

23E | $1,850,000 (2BR) $1629/sf

7C | $1,100,000 (1BR) $1321/sf

All Data From SFARMLS

15

1 HAWTHORNE LANE

ONE HAWTHORNE SOLD ACTIVE ACTIVE CONTINGENT PENDING

11A | $1,095,000 (1BR) $1197/s

sf

# SOLD

1

AVG $/SF

AVG SALE PRICE

$1,249 $1,650,000

AVG DOM

116

COMPARED TO 2015 Q1 2

$1,287

$1,650,000

73

25C | $4,295,000 (3BR) $2153/sf

11C | $1,650,000 (2BR) $1249/sf

2C | $999,988 (1BR) $1190/sf

17

501 BEALE

WATERMARK SOLD ACTIVE ACTIVE CONTINGENT PENDING

# SOLD

AVG $/SF

1

$1,153

1

$1,374

AVG SALE PRICE

$875,000

AVG DOM

29

COMPARED TO 2015 Q1 $1,425,000

14

16E | $875,000 (1BR) $1153/sf

4G | $729,000 (1BR) $1113/sf

All Data From SFARMLS

19

SOUTH BEACH & YERBA BUENA CONDOS

SOLD UNITS IN Q1 2016 Address 355 1st 208

BR 0

BA 1

Status Sold

Status Date 3.31.16

333 Main 8E

0

1

Sold

3.31.16

501 Beale 16E

1

1

Sold

3.10.16

333 1st 1702

1

1

Sold

2.4.16

333 1st 1405

1

1

Sold

3.17.16

355 1st 1703

1

1

Sold

3.16.16

425 1st 4905

1

1

Sold

1.4.16

355 1st 1503

1

1

Sold

1.1.16

338 Spear 21C

1

1

Sold

2.23.16

355 1st 1702

2

2

Sold

1.8.16

1 Hawthorne 11C

2

2

Sold

1.19.16

425 1st 3206

2

2

Sold

2.12.16

301 Mission 606

1

2

Sold

3.17.16

301 Main 17B

2

2

Sold

2.24.16

425 1st 1902

2

2

Sold

3.4.16

301 Mission 601

2

2

Sold

1.22.16

301 Mission 33C

3

3.5

Sold

3.31.16

425 1st 6003

3

2

Sold

2.29.16

* Only showing sold units in buildings featured in this book.

21

DOM 17

SF 432

List Price

4

$529,000

Sold Price $555,000

$/SF $1285

568

$749,000

$749,000

$1319

29

759

$799,000

$875,000

$1153

15

713

$875,000

$890,000

$1248

123

709

$899,000

$900,000

$1269

4

795

$990,000

$990,000

$1245

128

710

$1,040,000

$1,007,000

$1418

56

795

$1,150,000

$1,124,500

$1414

0

808

$1,525,000

$1,525,000

$1887

28

1166

$1,548,000

$1,570,000

$1346

116

1321

$1,750,000

$1,650,000

$1249

73

1238

$1,825,000

$1,800,000

$1454

23

1633

$2,199,000

$1,900,000

$1164

9

1317

$2,150,000

$2,050,000

$1557

74

1309

$2,150,000

$2,190,000

$1673

0

1955

$2,759,000

$2,600,000

$1330

163

2170

$3,999,000

$3,500,000

$1613

33

1677

$3,995,000

$3,700,000

$2206

All Data From SFARMLS

SOUTH BEACH & YERBA BUENA CONDOS

NEW CONSTRUCTION

LUMINA SALES DATA # of Units # of Units in Contract # of Closed Units

656 456+ 115+

One Bedroom List Price Average Size Price/SF Current Starting Price

$870,000 - $1,595,000 650 - 1000 SF $975 - $1800 $1,050,000

Two Bedroom List Price Average Size Price/SF Current Starting Price

$1,300,000 - $3,300,000+ 1350 - 1650 SF $960 - $2350+ $1,445,000

Three Bedroom List Price Average Size Price/SF

$3,200,000 - $5,595,000+ 1800 - 2685 SF $1775 - $2100+

23

THE HARRISON (Sales Office Now Open) # of Units # of Floors

One Bedroom Projected Price Average Size Projected Price/SF

298 48 $800,000 - $1,400,000 613 - 1148 SF $860 - $1810

Two Bedroom Projected Price Average Size Projected Price/SF

$1,400,000 - $4,275,000 1083 - 1861 SF $995 - $2600

Three Bedroom Projected Price Average Size Projected Price/SF

$4,700,000 - $4,865,000 1946 - 1988 SF $2400 - $2450

Three Bedroom Penthouses Projected Price Average Size Projected Price/SF

$9,250,000 - $9,600,000 3214 - 3214 SF $2875 - $2990

181 FREMONT (Selling Soon) # of Units # of Floors Projected Starting Price

67 Top 17 Floors $4,000,000

SOUTH BEACH

MARKET SEASONALITY 45 40

# OF SOLD UNITS

35 30 25 20 15 10

JAN ‘13 MAY ‘13 SEP ‘13 JAN ‘14 MAY ‘14 MAR ‘13 JUL ‘13 NOV ‘13 MAR ‘14 JUL

Data is from SFARMLS which does not account for new construction sales such as Lumina. This may be why the typical May spike in sales did not occur in 2015. If you are thinking of selling or buying please contact me for a free personalized market analysis.

Paul Hwang | 415.216.8746

25

70

50 40 30 20 10

SEP ‘14 JAN ‘15 MAY ‘15 SEP ‘15 JAN ‘16 NOV ‘14 ‘14 MAR ‘15 JUL ‘15 NOV ‘15

All Data From SFARMLS

AVERAGE DAYS ON MARKET

60

SOUTH BEACH CONDO APPRECIATION

MEDIAN CONDO PRICES $1400000 $1300000

MEDIAN PRICE

$1200000 $1100000 $1000000 $900000 $800000 $700000

Q1 ‘12

Q2 ‘12

Q3 ‘12

Q4 ‘12

Q1 ‘13

Q2 ‘13

Q3 ‘13

Median sales price is the price at which half the sales occurred at higher prices and half for lower. It is a general statistic that is affected by factors other than changes in fair market value, such as seasonal trends and changes in new construction.

Paul Hwang | 415.216.8746

Q4

27

‘13

Q1 ‘14

Q2 ‘14

Q3 ‘14

Q4 ‘14

Q1 ‘15

Q2 ‘15

Q3‘15

Q4 ‘15

Q1 ‘16

All Data From SFARMLS

PAUL HWANG

RANKED #1 IN SOUTH BEACH bre 01371169 | 415.216.8746 paul@skyboxrealty.com

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