2023 / Mission Bay Annual Condo Report

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

Mission Bay

Condo Report 2023

Paul Hwang | Ranked #1 Broker 415.216.8746 | paul@skyboxrealty.com

© Skybox Realty Inc, 2024

1

Skybox Realty 2023 Annual Report

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

Hello Neighbors!

Mission Bay condo sales experienced a dramatic 42% decline in transactions for 2023, with a mere 69 homes trading. Lack of buyers resulted in a 12% dip in the average price per square foot to $970/sf.

Arden averaged a respectable $1,221/sf, but only had 8 sales for the entire year. One Mission Bay dropped a staggering 74% in units sold!

This was due to a confluence of negative factors; Tech / Finance layoffs, a 30%+ office vacancy rate, an almost tripling of mortgage rates to 7.5%+, retail exodus, and negative local / national press.

That being said I do not think UCSF, the Giants or the Warriors are going out of business any time soon. UCSF is still a magnet for smaller companies with good income jobs. With the elections in 2024 I expect positive sales activity with interest rates to decline and equities to be up, although prices will probably remain flat.

Mission Bay has always been a great place to raise a family as it is well suited for all ages with Mission Creek Park , Mission Bay Kids Park and the Channel Street Dog Park. Rents have held up well in Mission Bay, but may decline slightly in 2024.

I would like to continue to publish these reports. If they offer any value to you, please send us a referral. We look forward to providing you with personalized service for your real estate needs.

Best Regards, Paul Hwang, Ranked #1 Broker | 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.

© Skybox Realty Inc, 2024

3

Skybox Realty 2023 Annual Report

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

Table of Contents

Mission Bay 2023 Snapshot

7

235 Berry

8 - 11

255 Berry

12 - 15

Arterra

16 - 19

Park Terrace

20 - 23

The Beacon

24 - 27

Madrone

28 - 31

Radiance

32 - 35

Arden

36 - 39

One Mission Bay

40 - 43

2023 Q4 Solds

44 - 45

Who You Work With Matters

46 - 47

© Skybox Realty Inc, 2024

5

Oracle Park E N TH CO A BE

Ch in a Ba sin Pa rk

Caltrain BE

R

ST

RY

5 23 RRY BE

ONE BAY MISSION

5 25 RRY BE

0 30 RRY BE

N

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AN

LVD

BL VD NO RT H

IS B

M IS SI O N BA Y

ST

NCO

CH IN A BA SI N

FRA

G

DIANCE

MADRONE RA

ST

BR ID GE VI EW W

N

ID

E

3R D ST

EN

D

AR

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G

BR

N

RY A

CH

ST

EL

TER

I

O

EE

4T H ST

5 32 RRY BE

M

I SS

CR

AY

MISSION BAY SO UT H ST O W EN S ST

UCSF Mission Bay

The Chase Center

I 280

16 TH ST

TE NN ES S

M ISS ISS IP PI ST

M ar ip os a Pa rk M AR IP O SA ST

ILL IN OI S ST

UCSF Medical Center

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

Mission Bay 2023 Snapshot * Does not include new construction.

# of Transactions

69

42% YOY Average Sales Price

$1,033,348 13% YOY

* Median Price $941,500

Average Price per Square Foot

$970 12% YOY

Average Days on the Market

67

14% YOY

© Skybox Realty Inc, 2024

7

235 Berry

307 | $1,345,000 (2BR) $1089/sf

All Data From SFARMLS

OFF MAR KET

SOL D

© Skybox Realty Inc, 2024

ACTI V E

IN CONTRACT

9

235 Berry

Price Per SF

A VG $/ S F

MED I A N $/S F

Q4 Q3

N O S A L E S I N 2023

Q2 Q1 $900

$1000

$1 100

$1200

Buyer Demographic

NO SALES I N 2023

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

0

100% YOY

Average DOM

---100% YOY

Average $/SF

$---100% YOY

Average Sales Price

$---100% YOY

2023 $/SF Distribution

* Median Price $----

S T A N D ARD D EV I A TI O N = $----

N O S A L E S I N 2023

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

11

255 Berry

112 | $1,300,000 (2BR) $1052/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

604 | $1,375,000 (2BR) $944/sf

© Skybox Realty Inc, 2024

13

255 Berry

Price Per SF

A VG $/ S F

MED I A N $/S F

Q4 Q3 Q2

$1,052/SF

Q1

$944/SF $900

$1000

$1 100

$1200

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

2

75% YOY

Average DOM

185 340% YOY

Average $/SF

$998 13% YOY

Average Sales Price

$1,337,500 27% YOY

2023 $/SF Distribution

$ 7 7 0 / SF

* Median Price $1,337,500

S TA N D A R D D EV I A TI O N = $75.95

$998/SF

$1226/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

15

Arterra

1411 | $1,168,000 (2BR) $1253/sf 1207 | $785,400 (1BR) $1073/sf

711 | $1,042,000 (2BR) $1039/sf 515 | $748,000 (1BR) $1025/sf 519 | $785,000 (1BR) $1075/sf 408 | $1,239,000 (2BR) $1206/sf

518 | $680,000 (

All Data From SFARMLS

OFF MAR KET

(1BR) $1035/sf

SOL D

ACTI V E

IN CONTRACT

814 | $700,000 (1BR) $1054/sf 618 | $727,000 (1BR) $1106/sf 622 | $850,000 (1BR) $982/sf 501 | $1,125,000 (2BR) $982/sf 445 | $1,180,000 (2BR) $951/sf

© Skybox Realty Inc, 2024

17

Arterra

Price Per SF Q4

$1,020

Q3

$1,037/SF

A VG $/ S F

MED I A N $/S F

Q2 Q1

$1,123/SF $1000

$1100

$1 200

$1300

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

8

37% YOY

Average DOM

36 28% YOY

Average $/SF

$1,052 11% YOY

Average Sales Price

$907,675 7.6% YOY

2023 $/SF Distribution

$ 8 2 4 / SF

* Median Price $817,700

S TA N D A R D D EV I A TI O N = $76.06

$1052/SF

$1280/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

19

Park Terrace

322 | $763,000 (1BR) $950/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

320 | $1,430,000 (2BR) $1104/sf

© Skybox Realty Inc, 2024

21

Park Terrace

Price Per SF

A VG $/ S F

MED I A N $/S F

Q4 Q3

$950/SF

Q2

$1,104/SF

Q1 $900

$1000

$1 100

$1200

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

2

33% YOY

Average DOM

71

154% YOY

Average $/SF

$1,027 3.8% YOY

Average Sales Price

$1,096,500 3.8% YOY

2023 $/SF Distribution

$ 7 0 0 / SF

* Median Price $1,096,500

S T A N D A R D D EV I A TI O N = $108.94

$1027/SF

$1354/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

23

The Beacon

953 | $579,000 (1BR) $----/sf 761 | $525,000 (0BR) $850/sf

423 | $895,000 (2BR) $965/sf 421 | $680,000 (1BR) $978/sf

551 | $941,500 (2BR) $853/sf 443 | $689,000 (1BR) $1001/sf 409 | $740,000 (1BR) $899/sf

3

1418 | $1,162,500 (2BR) $962/sf

872 | $920,000 (2BR) $804/sf 722 | $980,000 (2BR) $870/sf 618 | $900,000 (2BR) $752/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

1601 | $895,000 (1BR) $1076/sf 1501 | $895,000 (1BR) $1076/sf 1403 | $1,295,000 (2BR) $1007/sf 1319 | $915,000 (2BR) $829/sf 1211 | $725,000 (1BR) $791/sf 1009 | $829,000 (1BR) $1007/sf

881 | $585,000 (1BR) $880/sf 759 | $1,185,000 (3BR) $919/sf 647 | $599,000 (1BR) $869/sf 553 | $525,000 (1BR) $944/sf 451 | $940,000 (2BR) $876/sf 365 | $950,000 (2BR) $800/sf

581 | $590,000 (1BR) $887/sf 429 | $599,000 (1BR) $998/sf

575 | $675,000 (1BR) $743/sf 473 | $925,000 (2BR) $937/sf

1410 | $750,000 (1BR) $912/sf 1300 | $1,100,088 (2BR) $903/sf

812 | $719,888 (1BR) $811/sf 704 | $530,000 (1BR) $903/sf 628 | $707,500 (1BR) $817/sf 366 | $1,050,000 (2BR) $887/sf 264 | $520,000 (1BR) $874/sf

© Skybox Realty Inc, 2024

25

The Beacon

Price Per SF Q4

$842/SF

Q3

$876/SF

Q2

$897/SF

Q1

$871/SF $700

A VG $/ S F

$800

MED I A N $/S F

$9 00

$1000

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

24 43% YOY

Average DOM

80 21% YOY

Average $/SF

$883 5% YOY

Average Sales Price

$797,895 11% YOY

2023 $/SF Distribution

$ 6 4 8 / SF

* Median Price $732,500

S TA N D A R D D EV I A TI O N = $78.24

$883/SF

$1118/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

27

Madrone

621 | $1,170,000 (1BR) $1060/sf 514 | $1,650,000 (2BR) $1193/sf 425 | $1,120,000 (1BR) $1017/sf 316 | 950,000 (1BR) $1046/sf 205 | $1,310,000 (2BR) $1105/sf

547 | $1,795,000 (2BR 440 | $1,099,000 (2BR

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

611 | $1,695,000 (2BR) $1428/sf 513 | $1,500,000 (2BR) $1241/sf 403 | $1,250,000 (1BR) $1181/sf 332 | 1,530,000 (2BR) $1238/sf 216 | $920,000 (1BR) $1044/sf

R) $1065/sf R) $978/sf

© Skybox Realty Inc, 2024

29

Madrone

Price Per SF

A VG $/ S F

MED I A N $/S F

Q4 Q3 Q2

$1,112/SF

Q1

$1,136/SF $1000

$1100

$1 200

$1300

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

9

31% YOY

Average DOM

84 83% YOY

Average $/SF

$1,125 9.8% YOY

Average Sales Price

$1,266,667 18% YOY

2023 $/SF Distribution

$ 8 5 9 / SF

* Median Price $1,250,000

S TA N D A R D D EV I A TI O N = $88.67

$1125/SF

$1391/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

31

Radiance

515 | $1,300,000 (2BR) $1004/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

902 | $1,610,000 (2BR) $1019/sf

302 | $1,299,000 (2BR) $998/sf

© Skybox Realty Inc, 2024

33

Radiance

Price Per SF Q4

A VG $/ S F

MED I A N $/S F

$1,004/SF

Q3 Q2

$1,009/SF

Q1 $900

$1000

$1 100

$1200

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

3

---- YOY

Average $/SF

$1,007 11% YOY

Average DOM

68

467% YOY

Average Sales Price

$1,403,000 15% YOY

2023 $/SF Distribution

$ 9 7 5 / SF

* Median Price $1,300,000

S TA N D A R D D EV I A TI O N = $10.64

$1007/SF

$1039/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

35

Arden

900 | $1,849,000 (2BR) $1394/sf 915 | $1,908,000 (2BR) $1476/sf

508 | $1,550,000 (2BR) $1300/sf 306 | $1,698,000 (2BR) $1192/sf 311 | $1,821,000 (2BR) $1205/sf 201 | $1,350,000 (2BR) $1047/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

909 | $1,620,000 (2BR) $1328/sf 804 | $1,900,000 (2BR) $1324/sf 604 | $2,568,000 (2BR) $1322/sf 415 | $1,700,000 (2BR) $1230/sf

108 | $1,388,000 (2BR) $967/sf

© Skybox Realty Inc, 2024

37

Arden

Price Per SF Q4

$969/SF

Q3

$1,284/SF

Q2

$1,156/SF

Q1

$1,476/SF $900

A VG $/ S F

$1100

MED I A N $/S F

$1 300

$1500

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

8

33% YOY

Average DOM

45 18% YOY

Average $/SF

$1,221 5.3% YOY

Average Sales Price

$1,791,625 17% YOY

2023 $/SF Distribution

$ 7 3 9 / SF

* Median Price $1,760,500

S T A N D A R D D EV I A TI O N = $160.63

$1221/SF

$1703/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

39

One Mission Bay Resales

1401 | $2,920,000 (3BR) $1478/sf

619 | $1,400,000 (2BR) $1196/sf 616 | $600,000 (1BR) $1181/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

1406 | $1,378,000 (2BR) $1088/sf 1206 | $1,482,000 (2BR) $1170/sf

615 | $1,035,000 (1BR) $1077/sf

318 | $975,000 (1BR) $1271/sf

© Skybox Realty Inc, 2024

41

One Mission Bay

Price Per SF Q4

$1,181/SF

Q3

$1,196/SF

Q2

$1,271/SF

Q1

$1,123/SF $1000

A VG $/ S F

$1100

MED I A N $/S F

$1 200

$1300

Buyer Demographic

CA S H B UYER LO A N B UYER UN K N O WN

2022

2023

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

# of Transactions

5

74% YOY

Average DOM

79 98% YOY

Average $/SF

$1,179 7.2% YOY

Average Sales Price

$1,098,400 14% YOY

2023 $/SF Distribution

$ 9 7 1 / SF

* Median Price $1,035,000

S TA N D A R D D EV I A TI O N = $69.41

$1179/SF

$1387/S F

Listings Days on Market

D I D N ’T S ELL S O LD > 45 D A YS S O LD < 45 D A YS

2022

2023

© Skybox Realty Inc, 2024

43

Skybox Realty 2023 Annual Report

2023 Q4 Sales Address

BR / BA

SQFT

260 King 881

1/1

665

110 Channel 616

1/1

508

300 Berry 518

1/1

657

300 Berry 1207

2/2

732

250 King 872

2/2

1,144

325 China Basin 515

2/2

1,295

708 Long Bridge 108

2/2

1,432

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

* Only showing sold homes in buildings featured in this book. Does not include new construction.

Sale Price

$/SF

% Sale/List

$585,000

$879.70

146.62

$600,000

$1,181.10

92.45

$680,000

$1,035.01

97.84

$785,400

$1,072.95

98.79

$920,000

$804.20

96.03

$1,300,000

$1,003.86

93.19

$1,388,000

$969.27

87.85

© Skybox Realty Inc, 2024

45

Skybox Realty 2023 Annual Report

Paul Hwang

Paul Hwang Activity (2021-2023 Sales) # of Transactions

103+ Sold Volume

$187,254,400 All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

*

Call me to find out how we can feature your off market listing to all of our prospective buyers in our Quarterly Reports!

Paul Hwang Leasing Activity 2022 # Leased

40+

2023 # Leased

62+

© Skybox Realty Inc, 2024

47

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Paul Hwang

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