The overall San Francisco market has stabilized and trended somewhat flat over the past 2 months after trending nicely upward from early 2017 through late Spring…before it settled in, as we head into the middle of the traditionally lower-key summer selling season. Certain segments remain more robust than the overall market, including smaller, “starter” single family homes in desirable neighborhoods between $1.2 and $2.2 million where activity remains very high and inventory very low. Multiple offers well over the asking price were common during the spring run up and continue into the summer for these houses regardless of condition. Prices north of $900 a foot and most often over $1,000 are commonplace in a variety of neighborhoods especially in the more compact (under 2,000 sf) homes.
The general condo market in high rise buildings has flattened out with inventory from new developments in South Beach, Mission Bay, SOMA and Financial District competing for less motivated buyers…though prices per foot still hover at astonishingly strong averages over $1,100 a foot and much higher when significant views are added into the equation.
The very upper end of the single family home market in city center (over $3.5 $4.0 million) has cooled more so than the smaller/starter single family home market, though certain geo-centric locations such as part of Dolores Heights/Liberty Hill, Duboce Triangle, and sections of mid Noe Valley continue to buck that trend for unique/special homes over the $4.0 million mark.
The small scale (resale) condo market (2-4 unit buildings and boutique older mid-size buildings 6-50 units) remains strong with low competitive inventory and strong neighborhood locations (particularly North Side and Central locations (District 7 and 5).
For a more detailed micro perspective of a specific property or neighborhood, please contact Rob Levy directly at 415-385-8011 or Rob@RobLevy.net