San Francisco Condos | Q1 2017

|May 15, 2017

The ongoing strength of San Francisco’s condominium market carried into the start of the year, with its average $1.3 million sales price up 5 percent year-over-year, making it the highest figure in city history. This also marked the sixth straight quarter in which city units have averaged more than $1.198 million—illustrating a prolonged pattern of both predictability and strength. This activity occurred while 471 units moved—the highest Q1 figure since 2014 and a 9 percent year-over-year gain. The average 38 DOM showed a slightly slower rate of turnaround than the 34 seen in Q1 2016. All these factors point to a market that, while seller-leaning, is consistent enough to afford opportunities to those willing to make a large investment that shows no signs of depreciation.

San Francisco Condo Trends | Q1 2017

AVERAGE SALES PRICE BY NEIGHBORHOOD – THE TOP 10
Double digit percentage gains were had in the majority of the city’s condominium sectors. Among the most impressive were year-over year gains of 49 percent in South of Market, 39 percent in the Inner Richmond, and 20 percent in Mission Dolores.

San Francisco Condo Trends | Q1 2017

SALES PRICE CHANGE
The stabilized pricing seen over the past two years has created for a market in which buyers and sellers both have a good idea of what to expect. As such, units were priced in line with demand: Those who required no price change netted a healthy 5 percent on top of initial listing and those who tested the market recovered 93 percent of their initial ask.

San Francisco Condo Trends | Q1 2017


DOWNLOAD THE McGUIRE QUARTERLY REPORT.
McGuire Quarterly Report | Q1 2017
FIND Q1 2017 MARKET UPDATES FOR EACH COUNTY AT MCGUIRE.COM/QUARTERLY_REPORT

Category Market Reports, Quarterly Report, San Francisco

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McGuire Real Estate

McGuire Real Estate

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