What does a $9 Million Dollar Living room at the Four Seasons look like? Well, actually this is exactly what it looks like. In March, we saw the Penthouse at the four Seasons come off the market. Originally listed at $10.9 mil, the Penthouse sold for 82.5% of the listing price. 

What does a $9 Million Dollar Living room at the Four Seasons look like? Well, actually this is exactly what it looks like. In March, we saw the Penthouse at the four Seasons come off the market. Originally listed at $10.9 mil, the Penthouse sold for 82.5% of the listing price. 

 
 

April, It's heating up!

As the sunshine flows into beautiful San Francisco, a warm breath of fresh air is upon the condo scene. It's getting HOT. More condo's are hitting the market, more buyers are realizing their capacity for owning in some of the nicest buildings The Bay has to offer, and more agents are seen walking the streets yelling at their cell phones.

 (insert Jerry Maguire Quote here)

(insert Jerry Maguire Quote here)

April saw 59 properties sell, with an average of 45 days on market. This is great news for sellers, indicating DOM is dropping after the grueling 58 days on market as the average over January and February.

But what does this mean for you, the idle condo fanatic trying to assess what the worth is of your current home, or seeking to get in on the action?

SOMA

  We LOVE Lofts in SOMA. 139 Welsh St #11 fell after just 35 days on the open market for OVER asking.

We LOVE Lofts in SOMA. 139 Welsh St #11 fell after just 35 days on the open market for OVER asking.

# of Listings vs. Sales: 35 / 18
Average Sale Price: $1,363,782
Average Price per SqFt: $959
DOM: 53

SOMA showed excellent activity in March, with over 50% of the listed properties selling. This is positive reinforcement to the inclination of lower days on market coming into the summer months, with a trajectory of dropping below 30 DOM in the coming months. If you're looking to buy, be ready to jump on something the second you like it. Taking 3-4 weeks to decide could mean the difference between getting the condo of your dreams, and missing out. The best advice any agent can give - Get Pre-Qualified as soon as possible. This will ensure you are ready to move the second something attractive comes across your plate. 

Without the outlier of a $9m Four Seasons penthouse, the actual average sale price is $1,089,861.

 

 FEATURED PROPERTY: 140 South Van Ness Ave #203   Listing Price: $285,457

FEATURED PROPERTY: 140 South Van Ness Ave #203

Listing Price: $285,457

We get caught up in the ritz and glamour of luxury penthouses and marble lobby floors. But the lower end buyer still has her opportunity for a steal, too. Income Eligible Housing provides an excellent opportunity for blue collar warriors in a world of high tech to buy their desired condo. This is also an EXCELLENT opportunity for millennials to invest in property. Condos such as these require an upper limit income of $75,400.

Been working at Google for $65k base for a few years and have a down payment? Why would you continue renting when your mortgage could be cheaper than your rent!

South Beach

 A historical NY style penthouse loft at 300 Beale St #602 sold in South Beach this March for $100k over asking! 

A historical NY style penthouse loft at 300 Beale St #602 sold in South Beach this March for $100k over asking! 

# of Listings vs. Sales: 57 / 24
Average Sale Price: $1,246,042
Average Sale Price per SqFt: $1,147
DOM: 47

While South Beach was moving a little slower than SOMA this month, the price per square foot is astronomical. Owners: If you have been waiting for the market to warm up before considering listing your condo - the time might be upon us.

The traditional big players all had a role in the 24 sales this month, with LUMINA leading the way with 4, and One Rincon Hill and Bay Crest Towers closely behind with 3 each. 

 

Mission Bay

 The Young Pup of the bunch is on the up and up! 

The Young Pup of the bunch is on the up and up! 

# of Listings vs. Sales: 14 / 6
Average Sale Price: $1,065,500
Average Sale Price per SqFt: $1,061
DOM: 35

I'm always a big fan of the underdog, maybe it's just the fairytale sports lover in me. Mission Bay is the baby of the group, but with sales and listings increasing month after month, soon enough we'll have completely forgotten this subdistrict was ever a minor. 1500 more doors are on their way to market in the next few years, so expect these numbers to continually rise. You can still get condos for under $1000 per SqFt in luxurious buildings south of the Ball Park. With Uber buying commercial space next to the site of future Chase Arena, I would expect these condos to fill up quite rapidly.