In recent breaking news, The Infinity's eastern facing penthouse came off the market again at the end of February. A lazy $12m would have gotten you this spectacular 3 bedroom, 3300 square foot masterpiece. The penthouse has come on and off the market since 2015, as the luxury condo market cools. What will it's next listing price be? Who knows. 

In recent breaking news, The Infinity's eastern facing penthouse came off the market again at the end of February. A lazy $12m would have gotten you this spectacular 3 bedroom, 3300 square foot masterpiece. The penthouse has come on and off the market since 2015, as the luxury condo market cools. What will it's next listing price be? Who knows. 

 

Welcome to March in San Francisco

Around this time of year we typically see the number of listings gradually increase, leading into the hot summer season. As predicted, a total of 85 condo's were listed between SOMA, South Beach, Yerba Buena and Mission Bay this past month, with 26 sales coming in the 28 days February has to offer. This almost 1/3 sale to listing ratio is hotter than you would expect at this time of year, hopefully showing signs of stronger market. Over the past 18 months, price per square foot in these district 9 locations has been slowly falling. Listings have had to be very smart around their pricing strategy, as condo owners have been steadily taking more and more of a hit in the sales process. 

 

The Biggest Movers

Mission Bay

  Average cost per Square Foot in Madrone over the past 12 months: $1212

Average cost per Square Foot in Madrone over the past 12 months: $1212

Madrone and Radiance saw 1 sale each, as well as Arden, keeping Mission Bay's competitive pace with SOMA, Yerba Buena and South Beach. With 1500 more doors projected to be built before the Golden State Warriors come to town in 2019, Mission Bay should continue in its growing popularity. 

Mission Bay February Sales: 3
Mission Bay February Listings: 7
Avg Cost per Sq/ft in February:  $1135
Cost per Sq/ft on SOLD listings: $1043

 

South Beach

 75 Folsom Street #1604 is on the market at a mere $3.6 million, boasting some of the closest views to the Bay Bridge and best Embarcadero Walk scores, couldn't you see yourself eating breakfast around this dining table? 

75 Folsom Street #1604 is on the market at a mere $3.6 million, boasting some of the closest views to the Bay Bridge and best Embarcadero Walk scores, couldn't you see yourself eating breakfast around this dining table? 

South Beach has seen 36 listings this past month, with a total of 11 sales. Rincon Hill continues its hot start to the year with 7 sales between 1st, Harrison and Lansing Street. As The Harrison continues to sell out, buyers are loving the standard of amenities this pocket of San Francisco offers. As the standard of amenities increases however, so do the HOA's. Some South Beach buildings HOA's are comfortably sitting in the mid $1000's per month. For an HOA detailed analysis, inquire within. 

South Beach Sales: 7
South Beach Listings: 36
Avg Cost per Sq/ft in February: $1089
Cost per Sq/ft on SOLD Listings: $1050

The average per square foot on sold listings is slightly higher due to an outlier, but as usual the lower the sq/ft cost, the more we will see condo's selling. This typifies calculated buyers in a cool market. 

Best Buy In south beach

The Harrison SF.png

200 Brannan Street #420
$1,750,000 / 1949 Sq/ft
$897 per Sq/ft
Free On-site parking
HOA: $799

For More Info: 415 691 9272

 

SOMA

SOMA leads the pack of the biggest movers, clearing 16 properties out of a total of 42 listings. As SOMA continues to gentrify with bars, restaurants and coffee shops popping up what feels like weekly, this trend should steadily continue. Not only does it cover the largest area in district 9, it also hosts the most residents. 

 $5,995,000 Mega Condo at the Four Seasons

$5,995,000 Mega Condo at the Four Seasons

SOMA Sales: 16
SOMA Listings: 42
Avg cost per Sq/ft in February: $1014
Cost per Sq/ft on SOLD listings:$968

With a major outlier in SOMA being $1532 per Sq/ft, most condo's on the market are in the $800-$900 range, making SOMA the most affordable of the district 9 condo neighborhoods. The closer you get to Market street on the northern border, and 2nd on the eastern, the higher cost per square foot. Yerba Buena falls into this category, averaging a whopping $1570 per Sq/ft. Some mega condo's have entered the market here, with a residence opening up at the Four Seasons for $5,995,000.

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