2024 Q2 / Mission Bay Condo Report

Mission Bay

Condo Report 2024 Q2

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

© Skybox Realty Inc, 2024

1

Skybox Realty 2024 Q2 Report

Hello Neighbors, Mission Bay ended Q2 with 23 transactions total at an average price of $1,009,522 per unit, a 12% decline in transactions year over year. The average price per square foot remained fairly constant at $997 / sf. While the sales market continued to be sluggish, the rents have held up well with little or no decline. This can be attributed to the robust job market that UCSF creates and the fact that many of the jobs need to be in person. eg Lab work, etc.

China Basin Park opened and added to the family friendly nature of the neighborhood. Mission Rock continued its fast paced development with several high rise buildings opening for business. OpenAI, the creators of ChatGPT, continues to look for more office space close to its HQ in Mission Bay. I anticipate the condo market for sale and leasing to continue to remain steady headed into the presidential elections. Election years usually have lower interest rates and higher equities.

Typically, the year after an election is not as good as the election year. Therefore, if your time horizon to sell is 1-2 years, I advise you to complete the transactions in 2024. Please contact me for any of your real estate needs.

Best Regards, Paul Hwang, 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.

All Data From SFARMLS

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

Table of Contents

Mission Bay 2024 Q2 Snapshot

5

235 Berry

6-9

255 Berry

10 - 13

Arterra

14 - 17

Park Terrace

18 - 21

The Beacon

22 - 25

Madrone

26 - 29

Radiance

30 - 33

Arden

34 - 37

One Mission Bay

38 - 41

Q2 Sales

42 - 43

Who You Work With Matters

44 - 45

© Skybox Realty Inc, 2024

3

Oracle Park E N TH CO A BE

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MISSION BAY SO UT H ST O W EN S ST

UCSF Mission Bay

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UCSF Medical Center

Paul Hwang | 415.216.8746 | paul@skyboxrealty.com

Mission Bay 2024 Q2 # of Transactions

23

12% YOY /

64% QOQ

Average Sales Price

$1,009,522 .53% YOY /

25% QOQ

* Median Price $888,000

Average Price per Square Foot

$997 2.8% YOY /

3.8% QOQ

Average Days on the Market

62

27% YOY /

32% QOQ

© Skybox Realty Inc, 2024

5

235 Berry

405 | $1,198,000 (2BR) $945/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

502 | $1,200,000 (2BR) $1250/sf

© Skybox Realty Inc, 2024

7

235 Berry

# of Transactions

1

100% YOY /

100% QOQ

Average Sales Price

$1,200,000 100% YOY /

100% QOQ

* Median Price $1,200,000

Price Per SF Q2

A VG $/ S F

MED I A N $/S F

$1,250/SF

Q1 Q4 Q3 $1000

$1100

$1200

$1300

All Data From SFARMLS

235 Berry

Average Days on Market

Average $/SF

5

$1,250 100% YOY /

100% QOQ

100% YOY /

Buyer Demographic

CASH

N o Sa les in 2 0 2 3 Q4

N o S al e s i n 2024 Q 1

2 0 2 3 Q4

2024 Q 1

© Skybox Realty Inc, 2024

100% QOQ

LO A N

UN K N O WN

2024 Q 2

9

255 Berry

301 | $1,295,000 (2BR) $986/sf

All Data From SFARMLS

OFF MAR KET

SOL D

© Skybox Realty Inc, 2024

ACTI V E

IN CONTRACT

11

255 Berry

# of Transactions

Average Sales Price

100% YOY / ---- QOQ

100% YOY / ---- QOQ

0

$----

* Median Price $----

Price Per SF

A VG $/ S F

MED I A N $/S F

Q2 Q1 Q4 Q3 $900

$1000

$1100

$1200

All Data From SFARMLS

255 Berry

Average Days on Market

Average $/SF

----

$----

100% YOY / ---- QOQ

100% YOY / ---- QOQ

Buyer Demographic

CASH

LO A N

UN K N O WN

N o Sa les in 2 0 2 3 Q4

N o S al e s i n 2024 Q 1

No Sales in 2024 Q 2

2 0 2 3 Q4

2024 Q 1

2024 Q 2

© Skybox Realty Inc, 2024

13

Arterra

1411 | $950,000 (2BR) $1019/sf

304 | $699,000 (1BR) $955/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

915 | $749,000 (1BR) $1026/sf

618 | $708,000 (1BR) $1078/sf 443 | $1,329,000 (2BR) $1087/sf

© Skybox Realty Inc, 2024

15

Arterra

# of Transactions

2

100% YOY /

33% QOQ

Average Sales Price

$829,000 100% YOY /

4.8% QOQ

* Median Price $829,000

Price Per SF Q2

$1,048/SF

Q1

$1,014/SF

Q4

$1,020/SF

Q3

$1,037/SF $950

A VG $/ S F

$1050

MED I A N $/S F

$1150

$1250

All Data From SFARMLS

300 Berry

Average Days on Market

Average $/SF

104

$1,048 100% YOY /

3.4% QOQ

100% YOY /

Buyer Demographic

2 0 2 3 Q4

CASH

2024 Q 1

© Skybox Realty Inc, 2024

37% QOQ

LO A N

UN K N O WN

2024 Q 2

17

Park Terrace

717 | $969,000 (1BR) $1308/sf

All Data From SFARMLS

OFF MAR KET

SOL D

© Skybox Realty Inc, 2024

ACTI V E

IN CONTRACT

19

Park Terrace

# of Transactions

Average Sales Price

100%YOY / ---- QOQ

100% YOY / ---- QOQ

0

$----

* Median Price $----

Price Per SF

A VG $/ S F

MED I A N $/S F

Q2 Q1 Q4 Q3

$950/SF $800

$900

$1000

$1100

All Data From SFARMLS

325 Berry

Average Days on Market

Average $/SF

----

$----

100% YOY / ---- QOQ

100% YOY / ---- QOQ

Buyer Demographic

CASH

LO A N

UN K N O WN

N o Sa les in 2 0 2 3 Q4

N o S al e s i n 2024 Q 1

No Sales in 2024 Q 2

2 0 2 3 Q4

2024 Q 1

2024 Q 2

© Skybox Realty Inc, 2024

21

The Beacon

1507 | $785,000 (1BR) $876/sf

961 | $519,000 (1BR) $840/sf 731 | $645,000 (1BR) $931/sf

429 | $550,000 (1BR) $925/sf

538 | $649,000 (1BR) $998/sf 408 | $679,000 (1BR) $863/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

1517 | $639,000 (1BR) $952/sf 1407 | $725,000 (1BR) $809/sf

1103 | $1,135,000 (2BR) $883/sf 1009 | $780,000 (1BR) $948/sf 953 | $525,000 (1BR) $----/sf 857 | $825,000 (1BR) $747/sf 761 | $462,000 (0BR) $748/sf

807 | $670,000 (1BR) $748/sf 743 | $619,000 (1BR) $900/sf

423 | $850,000 (2BR) $917/sf

473 | $950,000 (2BR) $963/sf

263 | $619,000 (1BR) $895/sf

534 | $558,000 (1BR) $734/sf 442 | $549,000 (0BR) $891/sf 372 | $699,999 (1BR) $931/sf

© Skybox Realty Inc, 2024

23

The Beacon

# of Transactions

11

8.4% YOY /

175% QOQ

Average Sales Price

$736,636 1.2% YOY /

11% QOQ

* Median Price $679,000

Price Per SF Q2

$857/SF

Q1

$919/SF

Q4

$842/SF

Q3

$876/SF $700

A VG $/ S F

$800

MED I A N $/S F

$9 00

$1000

All Data From SFARMLS

250 / 260 King

Average Days on Market

Average $/SF

72

$857 4.5% YOY /

6.8% QOQ

4% YOY /

Buyer Demographic

2 0 2 3 Q4

CASH

2024 Q 1

© Skybox Realty Inc, 2024

30% QOQ

LO A N

UN K N O WN

2024 Q 2

25

Madrone

611 | $1,695,000 (2BR) $1428/sf 442 | $1,299,000 (2BR) $1105/sf 420 | $1,549,000 (2BR) $1141/sf 305 | $1,150,000 (1BR) $1243/sf

405 | $950,00

116 | $849,000 (1BR) $1008/sf

All Data From SFARMLS

OFF MAR KET

SOL D

00 (1BR) $1017/sf

ACTI V E

IN CONTRACT

423 | $1,450,000 (2BR) $1175/sf

118 | $803,000 (1BR) $892/sf

© Skybox Realty Inc, 2024

27

Madrone

# of Transactions

4

---- YOY /

100% QOQ

Average Sales Price

$1,238,000 .44% YOY /

6.1% QOQ

* Median Price $1,300,000

Price Per SF Q2

$1,113/SF

Q1

$935/SF

A VG $/ S F

MED I A N $/S F

Q4 Q3 $900

$1000

$1100

$1200

All Data From SFARMLS

420 / 480 Mission Bay, 435 China Basin

Average Days on Market

Average $/SF

28

$1,113 .09% YOY /

19% QOQ

3.5% YOY /

Buyer Demographic

CASH

87% QOQ

LO A N

UN K N O WN

N o Sa les in 2 0 2 3 Q4

2 0 2 3 Q4

2024 Q 1

© Skybox Realty Inc, 2024

2024 Q 1

29

Radiance

405 | $1,085,000 (2BR) $1037/sf

All Data From SFARMLS

OFF MAR KET

SOL D

© Skybox Realty Inc, 2024

ACTI V E

IN CONTRACT

31

Radiance

# of Transactions

1

100% YOY /

100% QOQ

Average Sales Price

$1,085,000 25% YOY /

100% QOQ

* Median Price $1,085,000

Price Per SF Q2

A VG $/ S F

MED I A N $/S F

$1,037/SF

Q1 Q4

$1,004/SF

Q3 $900

$1000

$1100

$1200

All Data From SFARMLS

330 Mission Bay, 325 China Basin

Average Days on Market

Average $/SF

62

$1,037 2.8% YOY /

100% QOQ

Buyer Demographic

---- YOY /

100% QOQ

CASH

LO A N

UN K N O WN

N o S al e s i n 2024 Q 1

2 0 2 3 Q4

2024 Q 1

© Skybox Realty Inc, 2024

2024 Q 2

33

Arden

1309 | $3,395,000 (3BR) $1741/sf

900 | $1,699,000 (2BR) $1281/sf

215 | $1,575,000 (2BR) $1145/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

1011 | $1,050,000 (1BR) $1339/sf

508 | $1,368,000 (2BR) $1148/sf 302 | $1,550,000 (2BR) $1201/sf 213 | $1,585,000 (2BR) $1203/sf

© Skybox Realty Inc, 2024

35

Arden

# of Transactions

1

67% YOY /

67% QOQ

Average Sales Price

$1,585,000 .15% YOY /

24% QOQ

* Median Price $1,585,000

Price Per SF Q2

$1,203/SF

Q1

$1,238/SF

Q4

$969/SF

Q3

$1,284/SF $1000

A VG $/ S F

$1100

MED I A N $/S F

$1200

$1300

All Data From SFARMLS

708 / 718 Long Bridge

Average Days on Market

Average $/SF

15

$1,203 4.1% YOY /

2.9% QOQ

57% YOY /

Buyer Demographic

2 0 2 3 Q4

CASH

2024 Q 1

© Skybox Realty Inc, 2024

67% QOQ

LO A N

UN K N O WN

2024 Q 2

37

One Mission Bay

814 | $1,270,000 (2BR) $1060/sf

433 | $1,395,000 (2BR) $1181/sf

All Data From SFARMLS

OFF MAR KET

SOL D

ACTI V E

IN CONTRACT

1605 | $1,698,000 (2BR) $1394/sf

1302 | $2,478,000 (3BR) $1356/sf

411 | $1,398,000 (2BR) $1205/sf 421 | $888,000 (1BR) $1164/sf 201 | $895,000 (1BR) $1179/sf

© Skybox Realty Inc, 2024

39

One Mission Bay

# of Transactions

3

200% YOY /

50% QOQ

Average Sales Price

$1,545,333 58% YOY /

23% QOQ

* Median Price $1,270,000

Price Per SF Q2

$1,193/SF

Q1

$1,199/SF

Q4

$1,181/SF

Q3

$1,196/SF $1000

A VG $/ S F

$1100

MED I A N $/S F

$1200

$1300

All Data From SFARMLS

1000 3rd, 110 Channel

Average Days on Market

Average $/SF

31

$1,193 7.2% YOY /

.6% QOQ

Buyer Demographic

2 0 2 3 Q4

---- YOY /

49% QOQ

CASH

LO A N

2024 Q 1

© Skybox Realty Inc, 2024

UN K N O WN

2024 Q 2

41

Skybox Realty 2024 Q2 Report

2024 Q2 Sales Address

BR / BA

SQFT

260 King 761 260 King 429 250 King 534 260 King 1517 260 King 807 250 King 408 300 Berry 618 260 King 1009 435 China Basin 118 260 King 857 260 King 423 110 Channel 421 300 Berry 1411 260 King 473 330 Mission Bay 405 260 King 1103 420 Mission Bay 305 235 Berry 502 1000 3rd 814 435 China Basin 423 480 Mission Bay 420 718 Long Bridge 213 1000 3rd 1302

0/1 1/1 1/1 1/1 1/1 1/1 1/1 1/1 1/1 1 / 1.5 2/2 1/1 2/1 2/2 2/2 2/2 1 / 1.5 2/2 2/2 2/2 2/2 2/2 3 / 2.5

618 600 760 671 896 787 657 823 900 936 927 763 932 987 1,046 1,286 925 960 1,198 1,234 1,357 1,318 1,827

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 or bmrs.

Sale Price

$/SF

% Sale/List

$462,000 $555,000 $558,000 $639,000 $670,000 $679,000 $708,000 $780,000 $803,000 $825,000 $850,000 $888,000 $950,000 $950,000 $1,085,000 $1,135,000 $1,150,000 $1,200,000 $1,270,000 $1,450,000 $1,549,000 $1,585,000 $2,478,000

$747.57 $925.000 $734.21 $952.31 $747.77 $862.77 $1,077.63 $947.75 $892.22 $747.28 $916.94 $1,163.83 $1,019.31 $962.51 $1,037.28 $882.58 $1,243.24 $1,250.00 $1,060.10 $1,175.04 $1,141.49 $1,202.58 $1,356.32

96.45 113.73 96.54 100.00 95.99 100.00 101.29 97.51 100.50 103.25 100.00 98.78 88.95 100.00 99.09 97.93 100.00 114.29 97.84 98.64 100.00 100.00 100.00

© Skybox Realty Inc, 2024

43

Skybox Realty 2024 Q2 Report

Paul Hwang

Paul Hwang Activity (2021-2024 Sales) # of Transactions

112+ Sold Volume

$201,706,900 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 2023 # Leased

62+

2024 # Leased To Date

40+

© Skybox Realty Inc, 2024

45

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Paul Hwang

415.216.8746 | dre 01371169 paul@skyboxrealty.com

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