San Francisco Market Update | Q2 2014

All data within this document is pulled from the San Francisco MLS.

San Francisco Market UpdateSecond Quarter 2014

San FranciSco Brokerage

117 greenwich Street

San Francisco, ca 94111

t. 415.901.1700

sothebyshomes.com

San Francisco, ca | web: 0086715Photography by John Hayes

http://www.sothebyshomes.com/San-Francisco-Real-Estate/sales/0086715

http://www.sothebyshomes.com/San-Francisco-Real-Estate

Source: SFARMLS - April 1-June 30 each year.

Source: SFARMLS - April 1-June 30 each year.

2010 2011 2012 2013 2014

San FranciSco (ToTal) 467 500 535 497 442

DiSTricT 4 58 52 55 64 62

DiSTricT 5 63 66 72 72 69

DiSTricT 6 9 5 10 6 12

DiSTricTS 7 anD 8 25 25 28 23 22

DiSTricT 9 41 43 46 54 37

2010 2011 2012 2013 2014

San FranciSco (ToTal) 711 734 934 961 882

DiSTricT 4 21 17 18 19 17

DiSTricT 5 123 122 127 154 132

DiSTricT 6 77 71 93 96 74

DiSTricTS 7 anD 8 183 211 287 279 238

DiSTricT 9 240 232 295 325 334

A MESSAGE FROM OUR MANAGER: Jeffrey G. Gibson

As we reach the second half of 2014, the San Francisco real estate market in the second

quarter remained strong compared to the second quarter of 2013 according to the San

Francisco Multiple Listing Service. Following the 2014 first quarter trends, the average

sales price for single family homes continued to grow 14.3 percent across the City. Due

to a record low of available inventory, the total number of closed sales decreased by 18.3

percent. Condominiums sales responded in similar fashion, with the average sales price

climbing 19.8 percent and the total number of transactions falling 8.2 percent.

This market has been a boon for sellers, as high buyer demand and low inventory across

the City have pushed up the average sales price. Many listings are still recieving multiple

offers , and most contracts ratify over the asking price. The low inventory has also reduced

the length of time for listings are on the market, with the average days on market falling

for both single family homes and condominiums.

SAN FRANCiSCO BROkERAGE | sothebyshomes.com/sanfrancisco

117 Greenwich Street | San Francisco, CA 94111 | t. 415.901.1700

q2 TOTAL CLOSED SALES (SiNGLE FAMiLy hOMES)

q2 TOTAL CLOSED SALES (CONDOS)

A MESSAGE FROM OUR MANAGER:

Jeffrey G. Gibson

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2010 2011 2012 2013 2014

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2010 2011 2012 2013 2014

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.

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2010 2011 2012 2013 2014

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4

SINGLE FAMILY HOME SALES

Serving San FranciSco, Marin, tHe PeninSUla and eaSt Bay sothebyshomes.com/sanfrancisco

average sales price average days on market

ABOUT DiSTRiCT 4 district 4, also referred to as West of twin Peaks is located in 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.

SinGlE Family HomES | Q2 2010 2011 2012 2013 2014 % change(2014 v 2013)

AvERAGE LiST PRiCE $1,020,379 $900,672 $990,350 $1,121,938 $1,270,718 13.3%

AvERAGE SOLD PRiCE $1,032,049 $910,134 $1,025,727 $1,249,635 $1,452,914 16.3%

AvERAGE DAyS ON MARkET 55 65 53 33 25 -23.8%

TOTAL SiNGLE FAMiLy hOMES SOLD 91 98 110 89 73 -18%

DiSTRiCT 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2010 2011 2012 2013 2014

San Francisco District 4

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2010 2011 2012 2013 2014



http://www.sothebyshomes.com/Los-Angeles-Real-Estate




5

CONDOMINIUM SALES


q2 MARkET OvERviEW in district 4, average sales prices for both single family homes and condominiums continued to rise when compared to

the second quarter of 2013. Staying close to San Francisco’s overall average sales price, single family homes average

sales prices increased 16.2 percent, from $1,249,635 to $1,452,914 . average sales prices for condominiums also rose

14.8 percent, increasing from $533,632 to $612,831. the shortage of inventory resulted in a reduction in the total

number of closed sales for both single family homes and condominiums. total closed sales of single family homes

decreased 17.9 percent, from 89 sold units in 2013 to 73 sold units in 2014, while condominiums dropped 10.5 percent,

down to 17 units closed in 2014 compared to 2013. the days on market of single family homes decreased 23.8 percent,

and condominiums saw a sharp decrease of 64.6 percent, falling below the city average.

conDominiumS | Q2 2010 2011 2012 2013 2014 % change(2014 v 2013)

AvERAGE LiST PRiCE $433,691 $426,688 $403,832 $484,437 $551,281 13.8%

AvERAGE SOLD PRiCE $431,333 $413,176 $403,586 $533,632 $612,831 14.8%


TOTAL CONDOS SOLD 21 17 18 19 17 -10.5%

DiSTRiCT 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2010 2011 2012 2013 2014


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6




DiSTRiCT 5

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.


AvERAGE LiST PRiCE $1,369,288 $1,470,418 $1,437,282 $1,532,225 $1,866,616 21.8%

AvERAGE SOLD PRiCE $1,376,504 $1,470,448 $1,508,963 $1,705,696 $2,131,623 25%


TOTAL SiNGLE FAMiLy hOMES SOLD 76 98 112 111 86 -22.5%

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2010 2011 2012 2013 2014


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2010 2011 2012 2013 2014


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2010 2011 2012 2013 2014


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2010 2011 2012 2013 2014







7

CONDOMINIUM SALES


DiSTRiCT 5

q2 MARkET OvERviEW district 5 saw a substantial increase in average sales prices in the second quarter of 2014 compared to the second

quarter of 2013. the average sales price of single family homes grew from $1,705,696 to $2,131,623, a 25 percent

increase from 2013. the condominium average sales price rose 14.6 percent from $967,916 to $1,109,070. the lack of

inventory contributed to a decline in the total number of closed sales for both single family homes and condominiums.

Single family homes saw a 22.5 percent decrease in total units sold and condominium total units sold dropped 14.3

percent. the average days on market for both single family homes and condominiums have steadily decreased year-over-

year and this trend continued in 2014. single family homes saw a 33.3 percent drop and condominiums fell 26.8 percent.


AvERAGE LiST PRiCE $771,422 $837,489 $797,384 $874,081 $975,275 11.6%

AvERAGE SOLD PRiCE $774,220 $831,307 $831,445 $967,916 $1,109,070 14.6%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014


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2010 2011 2012 2013 2014


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$200,000

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$600,000

$800,000

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$1,400,000

2010 2011 2012 2013 2014


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8




DiSTRiCT 6

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 SOLD PRiCE $1,500,733 $1,549,273 $2,096,214 $2,149,284 $2,412,476 12.2%


TOTAL SiNGLE FAMiLy hOMES SOLD 15 11 14 11 11 0.00%

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2010 2011 2012 2013 2014


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$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2010 2011 2012 2013 2014







9

CONDOMINIUM SALES


DiSTRiCT 6

q2 MARkET OvERviEW the second quarter of 2014 showed a rise in the average sales price in district 6 for both single family homes and

condominiums compared to the second quarter of 2013. the average sales price for single family homes jumped 12.2

percent, an increase of $263,192 from 2013. the average sales price for condominiums rose 15.5 percent, from $853,147

to $985,259. the total number of closed sales for single family homes remained flat, with 11 units sold in both 2013

and 2014, while the total number of sales for condominiums decreased 22.9 percent, down from 96 units sold in 2013

to 74 units sold in 2014. While the average sales price rose, the average days on market for single family homes and

condominiums moved in the opposite direction. the average days on market of single family homes decreased to 21 days

in 2014 compared to 34 days in 2013 and condominiums slightly decreased, from 36 days in 2013 to 34 days in 2014.


AvERAGE LiST PRiCE $654,184 $661,516 $682,140 $792,549 $879,607 11%

AvERAGE SOLD PRiCE $647,757 $657,503 $698,829 $853,147 $985,259 15.5%



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2010 2011 2012 2013 2014




10




DiSTRiCTS 7 and 8

ABOUT DiSTRiCTS 7 and 8 districts 7 and 8 host some of the most impressive 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 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 SOLD PRiCE $3,326,119 $2,956,194 $3,634,801 $4,031,364 $4,557,489 13%

AvERAGE DAyS ON MARkET 53 59 43 26 53 100.5%


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

2010 2011 2012 2013 2014

San Francisco Districts 7 & 8

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$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

2010 2011 2012 2013 2014


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2010 2011 2012 2013 2014







11

CONDOMINIUM SALES


DiSTRiCTS 7 and 8

q2 MARkET OvERviEW the average sales price in districts 7 and 8 continued to climb for both single family homes and condominiums in

the second quarter of 2014. the average sales price of single family homes increased by 13 percent, from $4,031,364

to $4,557,489, while condominiums also grew by 22.5 percent, from $1,167,004 to $1,429,348. responding to a low

inventory, the total number of closed sales of single family homes and condominiums continued to steadily decline.

single family homes dropped by 23.6 percent, from 55 sold units in 2013 to 42 sold units in 2014, while total closed

condominiums sales dropped 14.7 percent, from 279 units in 2013 to 238 in 2014. condominiums saw an 8.8 percent

decrease in average days on the market, from 40 days in 2013 to 37 in 2014.


AvERAGE LiST PRiCE $987,431 $1,030,963 $974,917 $1,122,903 $1,362,375 21.3%

AvERAGE SOLD PRiCE $956,804 $1,004,606 $977,506 $1,167,004 $1,429,348 22.5%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2010 2011 2012 2013 2014


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2010 2011 2012 2013 2014


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2010 2011 2012 2013 2014


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DiSTRiCT 9

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 LiST PRiCE $859,183 $804,598 $780,688 $1,000,038 $1,014,239 1.4%

AvERAGE SOLD PRiCE $860,126 $805,892 $827,454 $1,119,346 $1,208,461 8%



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2010 2011 2012 2013 2014


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2010 2011 2012 2013 2014


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2010 2011 2012 2013 2014


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13

CONDOMINIUM SALES


DiSTRiCT 9

q1 MARkET OvERviEW the average sales price in district 9 increased for both single family homes and condominiums in the second quarter of

2014. single family homes grew 7.9 percent, from $1,119,346 in 2013 to $1,208,461 in 2014, while condominiums rose from

$925,309 to $1,104,714, a 19.3 percent increase. district 9 was the lone district in San Francisco that saw an increase in

total number of closed sales of condominiums, rising 2.8 percent, with 334 units sold in 2014 compared to the 325 units

in 2013. However, like the rest of the city, the total number of closed sales for single family homes declined falling 37.9

percent, from 87 units sold in 2013 to 54 units sold in 2014. the average days on market for both single family homes

and condominiums fell considerably. Single family homes declined 24.9 percent, from 34 days in 2013 to 25 in 2014, and

condominiums saw a 18.5 percent drop, from 34 days in 2013 to 28 in 2014.


AvERAGE LiST PRiCE $723,577 $747,928 $743,161 $898,150 $1,045,538 16.4%

AvERAGE SOLD PRiCE $699,771 $732,874 $746,074 $925,309 $1,104,714 19.4%


TOTAL CONDOS SOLD 240 232 295 325 334 2.8%

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014


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$200,000

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$1,000,000

$1,200,000

$1,400,000

2010 2011 2012 2013 2014


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San Francisco Market Update | Q2 2014

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