san francisco market update q4 2013

MARKET UPDATE | Q4 2013SAN FRANCISCO

A MESSAGE FROM OUR MANAGER: JEFFREY GIBSON

The fourth quarter of 2013 produced another strong quarter for San Francisco real estate sales compared to the fourth quarter of 2012 according to the San Francisco Multiple Listing Service. Prices continued to increase throughout the City, with average sales prices for single-family homes (SFHs) up 7.6 percent and condominium sales prices up 11.2 percent.

SFHs in particular continue to experience a shortage of inventory; the accompanying charts show a decline in the number of closed sales in five of the six districts. Condominium sales were up in Districts 6, 7, 8 and 9. District 9 was a hotspot in the fourth quarter, with an increase in sales of both condominiums and SFHs.

Now that the Fed’s $85 billion bond buying has been reduced to $75 billion, it will be interesting to see how this will affect lending rates and whether that will have an influence on sales prices in this robust market.

SAN FRANCISCO BROkERAGEt: 415.901.1700 117 Greenwich StreetSan Francisco, CA 94111

Q4 TOTAL CLOSED SALES (CONDO)

Source: SFARMLS - October 1-December 31 each year.

Q4 TOTAL CLOSED SALES (SFH)

Source: SFARMLS - October 1-December 31 each year.

2009 2010 2011 2012 2013

San Francisco (Total) 649 615 665 736 679

District 4 84 70 84 110 92

District 5 82 92 92 107 92

District 6 25 10 7 19 13

Districts 7 and 8 32 32 38 57 45

District 9 67 66 58 51 69

2009 2010 2011 2012 2013

San Francisco (Total) 696 554 595 796 839

District 4 21 14 8 15 14

District 5 147 96 102 131 121

District 6 70 52 59 84 100

Districts 7 and 8 201 170 183 222 226

District 9 184 162 182 265 299

540

560

580

600

620

640

660

680

700

720

740

760

2009 2010 2011 2012 2013

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2009 2010 2011 2012 2013

SERvING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY | sothebyshomes.com/sanfrancisco

DISTRICT 4 SINGLE FAMILY HOME SALES

ABOUT DISTRICT 4

District 4, also referred to as West of Twin Peaks is located in what used to be 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.

AvERAgE SAlES PRicE

AvERAgE DAyS on MARKET

Sales Price: $1,545,000Agent: Daria Saraf

3 br / 3 ba

This stately three bedroom, three bath

Monterey Heights home offers open

southern views of the lovely neighboring

homes and distant hills. The classic floor plan

creates a natural flow to the home for easy

modern living.

MonTEREy HEigHTS HoME

2009 2010 2011 2012 2013

Average list Price $990,738 $1,005,153 $870,248 $1,049,765 $1,122,029

Average Sales Price $985,171 $990,396 $877,021 $1,081,658 $1,195,500

Average Days on Market 56 63 58 47 35

Total SFH Sold 83 70 84 110 92

DiSTRicT 4 SinglE FAMily HoMES (SFH)

0

10

20

30

40

50

60

70

2009 2010 2011 2012 2013

San Francisco District 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2009 2010 2011 2012 2013


DISTRICT 4

DISTRICT 4 MARkET OvERvIEW

Average sales prices in District 4 continued to climb in the fourth quarter of 2013, compared to the fourth quarter of 2012. The average sales price of SFHs increased by 10.5 percent, from $1,081,658 to $1,195,500. Condominium sales prices increased by 1.5 percent, and the average price per square foot jumped 11.3 percent, from $485.68 to $540.66. The total number of closed SFH sales declined by 16 percent, from 110 sold units in 2012 to 92 units in 2013. The total number of closed condominium sales changed from 15 sold units in 2012 to 14 units in 2013. The average days on market dropped markedly for both SFHs and condominiums - SFHs saw a 22.1 percent decline and condominiums saw a 29.9 percent decrease.

CONDOMINIUM SALES

AvERAgE SAlES PRicE


Sales Price: $1,950,000Agent: Amanda Jones

3 br / 3 ba

Spectacular, renovated mid-century view

home located on the border of St. Francis

Wood and Sherwood Forest. This home is

perched above it all taking in lots of light

and magnificent ocean views from all levels

including the yard and basement. With

soaring ceilings, floor to ceiling windows,

ocean views and two wood-burning

fireplaces, this is an entertainer’s dream.

MiD-cEnTURy viEw HoME

2009 2010 2011 2012 2013

Average list Price $519,552 $543,079 $393,000 $461,427 $468,060

Average Sales Price $517,747 $527,179 $393,875 $475,367 $482,596


Total condominiums Sold 21 14 8 15 14

DiSTRicT 4 conDoMiniUMS

0

10

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2009 2010 2011 2012 2013


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2009 2010 2011 2012 2013




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. District 5 properties experienced some of the strongest growth in prices in 2013.

AvERAgE SAlES PRicE


Sales Price: $3,225,000Agents: Jon Taylor & Gloria Smith

3 br / 3.5 ba

1612 Church showcases the sophistication

and allure of contemporary design. The

façade’s expansive walls of glass and modern

lines announce the aesthetic that awaits

inside. A stunning 30-foot-high entry with a

steel and glass staircase introduces each level.

A spacious media/family room has built-in

cabinetry with wet bar, full bath and opens

through sliding glass doors to a walled-in

private patio with built-in seating and a

ribbon flame outdoor fireplace.

noE vAllEy REnovATion

2009 2010 2011 2012 2013

Average list Price $1,219,926 $1,447,021 $1,382,486 $1,469,944 $1,761,042

Average Sales Price $1,216,919 $1,438,216 $1,383,789 $1,547,670 $1,864,321




0

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20

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2009 2010 2011 2012 2013


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

2009 2010 2011 2012 2013


DISTRICT 5


Average sales prices in District 5 increased significantly in the fourth quarter of 2013 compared to the fourth quarter of 2012. The average sales price of SFHs jumped 20.5 percent, an increase of $316,651 from 2012. The average condominium sales price exceeded the $1,000,000 mark, from $851,196 in 2012 to $1,071,095 in 2013. The shortage of inventory resulted in a decline in total number of closed sales of both SFHs and condominiums. SFH closed sales decreased by 14 percent and condominium closed sales decreased by 7.6 percent. The average days on market of SFHs declined by 10 percent, while the average days on market for condominium sales dropped 22 percent in year-over-year comparisons.

CONDOMINIUM SALES

AvERAgE SAlES PRicE


Sales Price: $1,375,000Agent: Paul Ybarbo

3 br / 2.5 ba

Enjoy an outstanding location adjacent to the

boutiques and bistros of Cole valley, Buena

vista Park and the colorful Haight from this

refined, full floor condo in a gorgeous Beaux

Arts-style building. This updated flat boasts

tasteful designer finishes and architectural

craftsmanship of a bygone era. Consistent

with this era of construction, all rooms are

generously proportioned.

ASHbURy HEigHTS conDoMiniUM

2009 2010 2011 2012 2013


Average Sales Price $720,315 $815,286 $764,314 $851,196 $1,071,095




0

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2009 2010 2011 2012 2013


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2009 2010 2011 2012 2013




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 SAlES PRicE


Sales Price: $395,000Agent: Amanda Jones

1 br / ba

This charming, top floor Edwardian home

is part of a community residing in a unique

turn of the century, converted mansion. The

building sits on a double lot and an opulent

entrance hall with a grand staircase and

a private garden oasis in the rear. It has a

fabulous central location directly across from

the Panhandle of Golden Gate Park and just

minutes away from the Haight, Cole valley,

Lone Mountain and USF.

FEll STREET on THE PARK

2009 2010 2011 2012 2013






0

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20

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2009 2010 2011 2012 2013


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

2009 2010 2011 2012 2013


DISTRICT 6


SFHs and condominium in District 6 continued to see an increase in average sales prices in the fourth quarter of 2013. The average sales price of SFHs increased by 11.2 percent, from $1,698,895 in 2012 to $1,888,385 in 2013. Average sales price of condominiums increased by 15.8 percent, from $718,443 in 2012 to $831,735 in 2013. SFHs closed sales declined by 31.6 percent while the number of condominium closed sales increased by 19.1 percent. The average days on market of SFHs declined 26.6 percent, from 36 days in 2012 to 26 days in 2013. Condominiums are selling at a much faster rate in year-over-year comparisons- from an average of 64 days on market in 2012 to an average of 29 days on market in 2013, which is a 54.7 percent drop.

CONDOMINIUM SALES

AvERAgE SAlES PRicE


Sales Price: $875,000Agent: Mary Laughlin Fenton

2 br / 2 ba

This condo in a newer 3-unit building offers

many luxuries in a highly sought location.

French doors open directly onto a large

deck with partial views. Skylights infuse

light throughout. It features custom granite

counters with breakfast bar, stainless steel

appliances including gas range and ventahood

microwave and hardwood floors.

PEnTHoUSE in noPA

2009 2010 2011 2012 2013






0

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20

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2009 2010 2011 2012 2013


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2009 2010 2011 2012 2013



DISTRICTS 7 AND 8 SINGLE FAMILY HOME SALES

ABOUT DISTRICTS 7 AND 8

Districts 7 and 8 host some of the most prestigious 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, which 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 SAlES PRicE


Sales Price: $7,500,000Agent: Janet Feinberg Schindler

6 br / 4.5 ba

East meets west in this Zen-inspired,

contemporary renovation of a classic

Edwardian 6-bedroom, 4.5-bath home

featuring spectacular Golden Gate views.

Excellent location. The elegant main level

has gracious formal rooms, exceptional

architectural detail and a floor plan ideal for

entertaining: French doors open to the deck

and award-winning garden. Private Sale.

golDEn gATE viEw HoME

2009 2010 2011 2012 2013





DiSTRicTS 7&8 SinglE FAMily HoMES (SFH)

0

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60

70

80

90

2009 2010 2011 2012 2013

San Francisco Districts 7 & 8

$-

$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

2009 2010 2011 2012 2013


DISTRICTS 7 AND 8

DISTRICTS 7 AND 8 MARkET OvERvIEW

Average sales prices of SFHs remained fairly consistent, from $4,332,079 in 2012 to $4,316,067 in 2013. The average sales price of condominiums in Districts 7 and 8 increased by 9.1 percent in the fourth quarter of 2013, from $1,110,151 in 2012 to $1,210,598 in 2013. The number of closed sales of SFHs decreased by 21.1 percent, while the number of closed sales of condominiums increased by 1.8 percent. The average days on market dropped significantly for both single-family homes and condominiums. SFHs saw an average of 45 days on market in 2013, a 15 percent decline from 2012. The average days on market decreased by 20.8 percent for condominiums, from 56 days in 2012 to 44 days in 2013.

CONDOMINIUM SALES

AvERAgE SAlES PRicE


Price: $4,995,000Agents: Richard Bastoni and Jeffrey Wahl

2 br / 2 ba | 1 br / 1 ba

Two apartments being sold together with

dramatic views of the North Bay, Alcatraz,

downtown and Coit Tower. Apartment 805:

spacious northeast corner living room with

deck and fireplace, a kitchen which opens to

a dining room, beautiful panelled library with

views. Apartment 804: 1 bedroom with a

wet bar, powder room and deck with views.

RUSSiAn Hill cooPERATivE

2009 2010 2011 2012 2013

Average list Price $920,190 $932,139 $880,693 $1,109,972 $1,183,534

Average Sales Price $897,968 $902,369 $859,102 $1,110,151 $1,210,598



DiSTRicTS 7&8 conDoMiniUMS

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2009 2010 2011 2012 2013


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2009 2010 2011 2012 2013




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 SAlES PRicE


Sales Price: $1,300,000Agent: Eric Johnson

2 br / 2 ba

Perched above the trees, this stunning 2+

bedroom, 2 bath residence at 200 Brannan

Lofts features a grand living room with 18-

foot high ceilings. The upstairs bonus room

is perfect for use as a media room/lounge/

office. The spacious master bedroom is fully

enclosed and filled with light. The chef’s

kitchen is outfitted with granite counters, a

gas range and stainless steel appliances.

200 bRAnnAn loFT

2009 2010 2011 2012 2013

Average list Price $828,590 $805,180 $727,643 $875,138 $1,120,636

Average Sales Price $829,501 $814,731 $756,364 $934,608 $1,265,595




$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2009 2010 2011 2012 2013


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2009 2010 2011 2012 2013


DISTRICT 9


District 9 experienced positive market trends in the fourth quarter of 2013, with increases in both sales prices and closed sales of SFHs and condominiums. SFHs in District 9 saw a 35.4 percent jump in the average sales price, from $934,608 in 2012 to $1,265,595 in 2013. The average sales price of condominiums increased by 8.3 percent, from $908,471 in 2012 to $983,846 in 2013. The number of SFH closed sales increased by 35.3 percent and the number of condominium closed sales increased by 12.8 percent. The average days on market of SFHs dropped 35.6 percent - from 41 days in 2012 to 27 in 2013. The average days on market of condominiums declined by 26.3 percent in year-over-year comparisons- from 53 days in 2012 to 39 in 2013.

CONDOMINIUM SALES

AvERAgE SAlES PRicE


Price: $2,800,000Agent: Gregg Lynn

2 br / 2.5 ba

The oversized door to #33C opens to a foyer

of luxurious venetian plaster and dark wood

floors. In the living room, an upholstered

accent wall highlights the custom designed

finishes and furnishings. Oversized windows

provide southern and western exposures with

spectacular urban views. An open plan kitchen

boasts Poggenpohl cabinetry, kashmere Gold

polished granite countertops and appliances

by SubZero and Miele.

PAnoRAMic viEwS AT THE ST. REgiS

2009 2010 2011 2012 2013






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2009 2010 2011 2012 2013


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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2009 2010 2011 2012 2013


SAn FRAnciSco, cA

SPEcTAcUlAR REMoDElED HoMEPrice: $2,800,000Agent: Louis Silcox Jr.

2+ br / 2.5 ba

Spectacular Bay, Bay Bridge and

garden views abound from this

3-level, bespoke luxury residence.

The main floor consists of the great

room with fireplace, dining, state-of-

the-art kitchen and powder room.

There are front and rear garden

terraces from this level. The second

floor consists of a living room, large

bedroom and spa-style bath. The

entire third level consists of the

splendid master suite with a luxe

bath and a roof terrace.

ON THE MARkET

LISTINGS AROUND THE WORLD IN THIS PRICE RANGEFEATURED PROPERTIES

PUERTO RICO7 ba / 1 hf ba $3,600,000

HOUSTON4 br / 4 ba / 2 hf ba $3,850,000

BROOkLYN3 br / 2 ba / 1 hf ba $3,400,000

SAN FRANCISCO3 br / 2 ba / 1 hf ba $3,000,000

in METRoPoliTAn MARKETS

in RESoRT MARKETS

in FoREign MARKETS

SANTA FE3 br / 4 ba / 1 hf ba $3,000,000

SOUTH AFRICA$2,593,121

PALM BEACH4 br / 4 ba / 1 hf ba $2,950,000

OJAI3 br / 3 ba $3,600,000

AUSTRALIA3 br / 3 ba Price Upon Request

AT SoTHEby’S AUcTion SoTHEbyS.coM

THE PinK STARRare English & European Magnificent Jewels13 November, 2013Sold: $84,730,214.30

Songye “Four Horn” Community Power FigureThe Collection of Allan Stone15 November, 2013Estimate: $600,000-$900,000

san francisco market update q4 2013

Documents

san francisco district

san francisco total

san francisco brokeraget

condominium sales prices

number of closed sales

greenwich streetsan

san franciscoa message

average list price