We are overdue for a newsletter and we’ve finally had a chance to sit down and give you a proper, meatier one at that with our take on the market’s abrupt change thanks to Chair Powell and company at the Federal Reserve (well, in part). We can't say it was unexpected as the market was getting a bit feverish there for a while, but what we can say that that long-term, big-picture perspective remains strong. It's just getting through the short and medium term that present new challenges and opportunities to both sellers and buyers as we adjust to a changed power dynamic.
The inflation report out this morning showing that the inflation rate rose some 9.1 percent isn’t likely to help matters much in terms of mortgage rate pressure and will likely lead to an even higher-than-expected 1% hike. June's .75% hike jolted our housing market undoubtedly with sales slowing and activity slackening ever since. But while the change may have seemed sudden and drastic turnaround actually fits into San Francisco's selling pattern whereby a spring peak in prices is then followed by a decline with an uptick come the fall of a given year. June’s housing market turn may have felt more pronounced thanks to a number of factors including:
- June's .75% rate hike was higher than the .5% many had expected;
- the fact that the 4th of July fell on a Monday this year meant that folks had two weeks to take off on vacation (before, after, or both). This may have meant that agents were holding some properties back longer or having to keep them on the market that much longer. Only now are we starting to see people come back;
- the stock market's slide since the beginning of the year has been dramatic but not necessarily devastating. It's given folks pause as they consider a first-purchase, upgrade or adding another property may take a moment before making a move; and,
- inventory is pretty low because of the 4th being a Monday as mentioned above, but also because a lot of folks are taking a wait-and-see approach to see how the economy plays out.
Combine that we were overdue for some moderation anyway and you can see that this was long in the works. In the short term, as people begin to adapt and adjust, there is a lot of opportunity out there too for folks who act while others sit on the sidelines. Yes, rates may be higher, and while this usually means a higher monthly payment for folks, down payments may be that much lower as prices come down as well.
Expect the following over the upcoming days and weeks:
- A .75 to 1 percent rate hike on the 27th;
- More creative approaches to financing (e.g., seller credits for rate buy-downs);
- Buyers making aggressively low offers, with contingencies;
- Longer days on market as buyers wax and wane on whether or not to make an offer while waiting to see what others may do or if something 'better' comes along;
- More aggressive deals and incentives at new-build developments;
- Greater use of transparent pricing (increases for currently active inventory);
- Exceptional properties still selling at exceptional prices but only if there's competition or something very special about it; and,
- More fog and forest fire smoke (but hopefully only a little).
As you can already tell, there’s a lot more nuance and detail behind the headlines you're seeing other there as things are certainly in flux as we all adjust to the market. But this is all the more reason why your friendly agents like yours truly are an even more vital resource now and for the days that lie ahead and to remember that the fundamentals that set San Francisco apart from so many other places are still there.
A little more...
As we said earlier, the market took a little bit of a holiday over the long weekend with fewer listings coming on the market as many agents either vacationed themselves or are holding their listings off until September to allow the market more time to adjust and for rates to stabilize. That being said, the last week saw at least 287 new listings for houses, condos, TICs, co-ops and 2-4 unit buildings — a high for sure but one that takes the holiday slack into account. There were also 118 price reductions announced over the MLS last week. This is something we haven’t seen in a long while as we’d only see about 8 or 10 a week over the spring this year.
On the flip side of that, we may be seeing more transparent pricing moving forward as agents and sellers adjust their list price strategy to take into account our adjusting market. Time will tell if this trend continues.
There may be great deals to be had a new-build condominium buildings because of various factors and pressure that project sponsors face that an individual seller may not have to factor in when selling a property that are largely related to debt servicing construction financing. This may mean special discounts, credits from sellers and other incentives.
Hope for mid-Market? While we wait for the new Ikea to draw folks to the area again, now that Mr. Musk has called off his twitter purchase, the hope is that twitter can get back to doing what they do (whatever that really is). While we were skeptical from the start, from a realtor perspective, we do think it’s a good thing the deal isn’t going through, lest twitter’s workforce or HQ get forcibly moved to Texas and the valuable space they occupy on mid-Market become vacant or worse. This should be a boon to the number of new-build buildings like the Serif and One Oak that have opened their doors for sales along the corridor.
TICs — a new hope? Just as TICs were a market response to the City’s strict rent and eviction control ordinances and limits on redevelopment, the TIC lending market place is evolving to meet higher conventional mortgages as we’re now seeing 30-year-fixed TIC mortgages instead of the usual adjustable rate products you tend to see. Better yet, as TIC purchase prices are, on average, lower than their condominium equivalents and given that TIC mortgage rates are lower than condo and single-family home loans, there may well be renewed focus on TIC purchases. For our primer on TICs vs Condos, see here.
|
|
THE LONG READ
Every year we try to do an annual report on the market and the year that’s ending. When we have time, we like to do a Mid-Year Review too. The past two years have focused on the impact of the Pandemic and this year’s Mid-Year Review grew even more complicated, but here’s our attempt.
June’s .75% rate hike was a catalyst that slowed the market down and accelerated our normal seasonal lull. This month’s anticipated rate hike will likely take effect on July 27. Because the rate was higher and impacted affordability it was also very newsworthy. The attention-grabbing headlines foretelling doom doom have followed of course as it’s human nature to dwell on change, uncertainty and anxiety.
But don’t forget to look past the headlines and remember that we do stand apart here in San Francisco in so many ways. For our purposes we note that many folks buying property do so with cash. If there’s a mortgage involved it will unlikely be the type the headlines are about (a conforming conventional) but, thanks to our prices, jumbo loans. Jumbo mortgage rates have been averaging anywhere from .75% to 1% less than conforming loan rates. And, as you'll see below, our selling season is also out-of-step with the country where our summers are the slow part of the year rather than the busiest. The chart below shows this regular pattern we see every year:
|
|
Remember when we said this was going to be a meatier newsletter?
Rather than show you the ordinary charts and graphs, we took an approach that Raffi may appreciate to go over what happened in Q2 and what were starting to see this month.
|
|
Some Context Setting About Mortgages and Real Estate
As you can see, we’ve seen far higher interest rates in the past and witnessed marked growth all the while. The big picture tells us that market awkwardness will pass eventually. Until it does, however, we do have to remind ourselves of why real estate is a special asset class.
Beyond the emotional factors and benefits of owning, don't forget that you can’t live in or paint an index fund. You can’t lease them out either last time we checked. Combine that utility with the various tax benefits afforded to real estate and you can see why real estate is considered a hedge against risk. But for the foreseeable future, we’re advising our clients to maximize their positions now the best they can. July’s rate hike is expected to be followed by a another increase on September 22, 2022. There are 3 or 4 more scheduled afterwards too as the Fed looks to cool down this unusual economy (there are signs it may be working already as fuel and lumber prices are starting to moderate). But until a new equilibrium is reached (from which prices will hold steady and resume appreciating, affordability issues will come to the fore each time rates go up which will moderate list and sale prices if there are fewer ready, willing and able buyers out there.
Until then, here’s our take on making the best of where we are at currently if you're a buyer or a seller.
- For buyers, being able to demonstrate that you’re indeed serious, ready, willing and able to go with a solid, non-contingent offer is key to winning properties that may have otherwise been unattainable earlier in the year. Competition for properties is down (instead of 10-12 offers, we’re starting to see properties get 3-5 offers or none for that matter). This is happening for least two reasons: (1) the folks who had the cash, confidence and willingness to buy already did so earlier this year; and, (2) right or wrong, buyers who would otherwise be making moves in the market are holding back out of caution or out of the hopes that prices will go down even more, so while other buyers sit out, this is an especially opportune time to make a move before rates go even higher or when more buyers start competing again.
- For sellers who can afford to do so, it would be wise to hold off on selling until we get to the fall if possible. The fall market is always very strong in San Francisco. If only because of the improved weather, this year may be an especially advantageous to hold a listing off until then because it will give buyers more time to adjust and acclimate to a new economic reality. It will also behoove sellers to prepare their properties to the highest level of detail and quality to attract buyers willing to make a move and, ideally, to compete over an exceptional and appealing property. Last, this type of fluid market whereby buyers are more empowered than they have been will require that seller property disclosures be as air-tight and thorough as possible so as to prevent any potential buyer cancelation based on a perceived failure to disclose something fully.
You can see the inherent tension between buyers and sellers is more pronounced than usual. On the one hand, many buyers are refusing to budge on their budgets (by choice or by circumstance as affordability continues to be diminished with each subsequent Fed rate hike). On the other hand, many sellers (and their agents) will want to hold out for a strong sale price and may be able to afford to do so because of a low mortgage rate or the ability to rent a property out to capture still-rising rents. Because the gulf between these two positions appears to be growing ever distant and wide, days-on-market figures have been increasing that much more with sale prices also coming back down off of their springtime highs. In other words, we’ve reached a more normalized market.
|
|
|
Some interesting facts and figures from June 2022 MLS data to ponder.
Median number of days required to sell a condominium in San Francisco at large: 18
In the South of Market-South Beach-Mission Bay neighborhood: 53
In the Noe Valley neighborhood: 12
Percentage of the 217 single-family homes that sold in San Francisco to sell over list price: 87
Percentage of list price received (on average): 117
Percentage of the 253 condominiums that sold over list price: 61
Percentage of list price received: 105
Number of months since single-family homes first sold for more than condominiums on a dollars-per-square-foot basis: 4
And the breakdown of our neighborhood-by-neighborhood comparison from the period of the January 6 insurrection to the period that saw the committee to investigate aforementioned event and some brief data on two-unit building sales in the City too.
|
|
OUR PROPERTY VIDEOS + WALKTHROUGH VIDEOS
|
|
|
As you may know, we have made hundreds and hundreds of YouTube property walk-throughs of the things we see in San Francisco. Here are some that are worth an extra watch
Care to walk and talk?
|
|
|
|
Take a watch of our listing at 1811 Turk, No. 102 in the NoPa/Divisadero Corridor; This exceptional, modern, bright and airy condominium is still available to be shown and sold as our sellers take the summer to refine the listing to make it that much better for its September launch.
|
|
As overheard, told to us or otherwise. This what we heard happened to the properties below over the past week or two. Remember what follows is obvious hearsay and subject ot change without notice. When in doubt, ask.
From our recent sales meetings we've seen some interesting stories that show the market is doing what you’d expect it to do in these times of adjustment. Open houses can be quiet, slow or slammed. Buyers are still willing to spend on properties that are as close to ‘perfect.’ These properties will sell strong and fast. For other properties, buyers are holding steadfast to their own pricing logic while ignoring the comps. Complicated properties that nevertheless represent rare opportunities will sell, but for less. The logic here is that the folks who can spot an opportunity where others would shy away from or simply overlook, are also the type of buyer who will spend less to get a property as their sophistication also informs them that unlocking that opportunity is going to take time and money.
If it’s truly special… Over at the Arden, 718 Long Bridge, in Mission Bay, there have been just a handful of sales over the past year at the 2016-build project. Number 1600, a 2-bed, 2-bath, 1300+ sqft Penthouse unit, was listed at $1.998M. Within 5 days of hitting the market, the big-view, large-window, modern, bright and chic condominium received two offers with the winning one being all-cash and $180,000 over list price with a quick close that will set a per-square-foot record in the building.
Opportunity and Creativity in tandem. After being long-time owners of a larger house, one set of buyers decided to downsize as they move further into retirement. Their financial advisor gave them a cap of what to spend on a replacement home, which was a bit low to be sure. Never mind that they said as they looked and found a great home over at 10 Miller Place. The 2 bed, 2 bath, 1,200+ sqft condominium in this big-view Nob Hill building was listed for more than 2 months with a starting list price of $1.785M. Currently listed at $1.595M, Unit 1801 has a moody feel but show-stopping bridge-to-bridge views and a patio to enjoy them from. The buyers here were able to use a reverse mortgage as part of their purchase so as to conserve their cash assets and were also able to get the property at $1.5M, which was less than what the sellers got the home for in 2016 at $1.665M.
Step by Step. 37 Noe Street, near Duboce Park, is a top-floor, 3-bed, 1.5-bath, 1,600+ sqft Victorian condominium (in a three-unit building) along this tree-lined street that still has its Victorian elements intact like the plaster walls, ornamentation and fir floors. In other words it could use an update. Once you climb up the 39 steps to get to the unit, you’ll see how bright it is, you may also notice the skyline views out the back behind the kitchen. Its central location and proximity to the N-line may make up for the lack of parking too. In any case, on the market for about 8 days there were two sets of people circling the property with one set stepping up to make it theirs with an offer that came in about $55,000 over the $1.495M list price.
Still popular — Outer Sunset fixers. The 1960s/1940s feel at 1770 41st Avenue in the Outer Sunset was enhanced by a bold, ‘happy’ accent color out front of the 2-bed, 1-bath + unwarranted garage level floor home that sits on the even side of a numbered avenue, meaning its backyard is sheltered from the wind and the view, if it has any, would be out the front of the house. With a nearly 3,000 sqft parcel, the home was listed at $998,000 and was on the market for 1 weekend before it was time for offers. Three came in with the winning one being 20% over list.
Houses that are special are still selling well. Two examples illustrate this point. 674 Elizabeth (at Diamond Street in Noe Valley) is a 3-bed, 2-bath, 1,600+ sqft, 4-car parking (read: potential to do something) Victorian home with that 1980s update that’s been dialed back a little to look more Victorian-era. With a 2,500-sqft parcel and listed at $1.895M it was on the market for a mere 8 days before getting 3 offers with the winning one landing some 22 percent over list at just over $2.3M with the buyer getting a 5-year-ARM at just 3.5%. Meanwhile, over at 1617 McGee in Berkeley, a 3-bed, 3-bath, 1,600+ sqft home in North Berkeley (off of Cedar), was bought in 2015 for $799,000. Its current owner, an avid chef who also happened to work for Williams Sonoma brought their work home and it shows. Perfectly trimmed out with tile, picnic table-dine-in kitchen nook with an outdoor space (with those large string lights of course and edible garden) and perfect lighting and plumbing fixtures. The picket-fence home, listed at $1.395M, had more than 200 people through its first open house with 33 disclosure packages going out with 12 offers coming in after just 7 days on the market with the winning offer landing some 50% over list price over $2M.
Homes that are more affordable than before (aka: comps? What comps?) Two houses in San Francisco’s District 4 illustrate this point. The 3-bed, 2-bath, 1,500+ sqft detached home at 540 Wildwood is a corner-lot, mid-century home that’s been updated over the years. While it may not be in the DWR catalog, it’d probably make the cut for Wayfair (maybe). Listed at $1.495M the home got 3 offers and will close for something under $1.8M, which was the sale price for a similar (and probably inferior) house just down the road at 567 Wildwood. Another house at 642 Mangels in Sunnyside was listed at $1.595M for a barrel-front-style house with 3 beds, 2 baths and just under 1,700 sqft. The home has that 2007 granite-counter-cherry-cabinet feel with the bigger LED recessed lights. With a lot of folks coming through the house, it still took 29 days for the home to sell to buyers who were stubborn with their offer price at $1.7M. Despite the comps saying the home would support a higher sale price, the buyers, through rounds of negotiation didn’t deviate and are getting the home at $1.7M with the seller looking forward to getting something new. And, a condo loft sale at 2600 Hampshire (at 18th Street) also speaks to this point. Number 11, a ground-floor, 2-bed, 2.5 bath, 1,300+ sqft unit with a deck and parking is in contract under its $1.195M list price after more than 2 months on the market.
A bit of history repeating? One bit of advice we give to our buyers when contemplating an offer is to see what the sellers are working with especially if the sellers bought less than 5 or 10 years ago. This is what happened with the charming and cute house at 130 Roanoke. With 2 beds, 2 bath and just over 1,000 sqft the home has sold 5 times in the past 15 years with the last sale in 2018 at $1.575M. The Glen Park house is nicely done but only has a deck for outdoor space. The buyers here came through during a private showing and, after 12 days on the market, decided to write up an offer that will still be high on a per-square-foot basis, but one that the sellers were fine with taking given the market’s new state. Listed at $1.5M the property is now in contract at $1.575M.
There are more and more multi-unit listings hitting the market that are vacant, representing more opportunity than we’ve seen of late. The vacant 2-unit fixer at 233-37 Scott Street is a prime example of a steal (even though there’s work to be done). Hitting the market for the first time in 45+ years, the property comprises 2 buildings (2 flats + garage in the front and a separate cottage in back) on a 3,500 sqft parcel. Yes, it’s a fixer but did we mention that it’s VACANT and set on an EXTRA-LARGE parcel with an EXISTING cottage? What’s better is that it’s also located on the Wiggle in the very popular Lower Haight/Duboce area. Originally listed at $1.6M and not selling for a month, it was then reduced to $1.495M. Better yet (at least for these buyers) the buyers here got the property for 10 percent less than the new list price. Another example of the multi-unit market comes from the listing at 3252-54 16th Street over near Dolores. With a 3,000-sqft parcel, this property is also perfect for a compound in that there’s a front building with a tenant-occupied 1-bedroom lower unit getting $3,100/mo in rent, a nicely done upper unit and a side driveway that leads to a second garage/shed structure (5 parking spaces overall) that has potential too. Listed at $1.998M, there were 2 offers that came in (both under list). The winning, non-contingent offer landed 5 percent under list and was brought by 3 siblings who may well turn it into a family compound.
Sometimes it’s a matter of waiting. The big-view, 3-bed, 3-bath, 2100+ sqft condominium at 37 Miguel Street, #6, is perched in between Noe Valley and Glen Park. With updated finishes and sweeping views of the skyline, the property was listed at $2.195M and first hit the market in late April. The buyers are got the property for just under the list price. A similar story in the Castro. The ground-floor condominium at 74 Pond Street (at 17th Street near Frances) first came on the market in April at $1.275M for the 2-bed, 1.5-bath, no-parking, condominium with a Florida Keys meets Edwardian rental feel. While the building itself has curb appeal, the lack of parking and low ceilings probably didn’t help matters much. Indeed, a reduction to $998,000 did as activity and renewed interest resulted in an offer that is the $1.2M range.
|
|
Here is the latest ”Coming Soon” listings for San Francisco. Remember a lot of agents hold their listings back until their official MLS launch date. Information is, of course, provisional. Ask us for details.
|
District
|
Type
|
Address
|
Expected List
|
Beds
|
Bath (Fl, Pt)
|
Parking Spaces
|
SqFt
|
|
Lot Size (sqft)
|
|
Dist 1
|
SFR
|
9 25th Ave
|
$32,000,000
|
5
|
7 (6 1)
|
3
|
7,540
|
|
18,748
|
|
Dist 1
|
SFR
|
894 35th Ave
|
$3,300,000
|
4
|
4 (3 1)
|
1
|
2,980
|
|
2,247
|
|
Dist 1
|
SFR
|
770 Funston Ave
|
$5,600,000
|
6
|
6 (5 1)
|
2
|
6,850
|
|
6,600
|
|
Dist 1
|
SFR
|
543 35th Ave
|
$2,495,000
|
4
|
4 (4 0)
|
1
|
2,400
|
|
3,000
|
|
Dist 1
|
TIC
|
716 2nd Ave #6
|
$769,000
|
1
|
1 (1 0)
|
1
|
|
|
3,500
|
|
Dist 2
|
SFR
|
1959 19th Ave
|
$1,488,000
|
5
|
4 (4 0)
|
1
|
2,082
|
|
3,180
|
|
Dist 2
|
Condo
|
1276 18th Ave #2
|
$1,500,000
|
3
|
2 (2 0)
|
1
|
1,223
|
|
3,000
|
|
Dist 2
|
SFR
|
2515 20th Ave
|
$2,495,000
|
4
|
3 (3 0)
|
1
|
2,639
|
|
2,063
|
|
Dist 2
|
SFR
|
839 Noriega St
|
$1,495,000
|
3
|
2 (2 0)
|
1
|
1,689
|
|
3,698
|
|
Dist 2
|
SFR
|
1835 45th Ave
|
$995,000
|
2
|
1 (1 0)
|
1
|
950
|
|
2,996
|
|
Dist 2
|
SFR
|
2627 30th Ave
|
$1,695,000
|
3
|
2 (2 0)
|
2
|
2,105
|
|
2,761
|
|
Dist 2
|
SFR
|
1001 Moraga St
|
$1,495,000
|
2
|
2 (1 1)
|
2
|
2,175
|
|
3,872
|
|
Dist 2
|
SFR
|
2462 33rd Ave
|
$1,495,000
|
4
|
3 (3 0)
|
1
|
1,520
|
|
3,000
|
|
Dist 2
|
SFR
|
2687 45th Ave
|
$1,495,000
|
3
|
2 (2 0)
|
1
|
1,700
|
|
2,375
|
|
Dist 2
|
SFR
|
2186 14th Ave
|
$2,295,000
|
4
|
3 (3 0)
|
1
|
2,607
|
|
4,120
|
|
Dist 2
|
SFR
|
2368 16th Ave
|
$1,895,000
|
3
|
3 (3 0)
|
1
|
1,944
|
|
2,800
|
|
Dist 3
|
SFR
|
316 Orizaba Ave
|
$1,495,000
|
4
|
3 (3 0)
|
1
|
2,138
|
|
2,247
|
|
Dist 3
|
SFR
|
350 Howth St
|
$1,200,000
|
2
|
1 (1 0)
|
2
|
1,016
|
|
3,746
|
|
Dist 3
|
SFR
|
252 Minerva St
|
$1,299,888
|
3
|
2 (2 0)
|
0
|
1,500
|
|
3,123
|
|
Dist 4
|
SFR
|
178 Amber Dr
|
$3,495,000
|
4
|
3 (2 1)
|
1
|
|
|
3,510
|
|
Dist 4
|
SFR
|
216 Yerba Buena Ave
|
$3,900,000
|
4
|
3 (2 1)
|
0
|
2,980
|
|
3,933
|
|
Dist 4
|
SFR
|
249 Gennessee St
|
$1,999,999
|
3
|
2 (2 0)
|
2
|
1,840
|
|
2,500
|
|
Dist 4
|
SFR
|
140 San Leandro Way
|
$4,200,000
|
4
|
5 (4 1)
|
4
|
3,600
|
|
5,035
|
|
Dist 4
|
Condo
|
5150 Diamond Heights Blvd #108B
|
$975,000
|
2
|
2 (2 0)
|
1
|
1,175
|
|
7,215
|
|
Dist 4
|
SFR
|
125 Kenwood Way
|
$2,295,000
|
4
|
2 (2 0)
|
2
|
1,642
|
|
3,598
|
|
Dist 4
|
SFR
|
76 Molimo Dr
|
$1,498,000
|
3
|
3 (2 1)
|
2
|
1,545
|
|
2,661
|
|
Dist 4
|
SFR
|
105 Midcrest Way
|
$1,988,000
|
3
|
4 (4 0)
|
0
|
1,908
|
|
2,708
|
|
Dist 5
|
TIC
|
17 Chattanooga St
|
$1,750,000
|
3
|
3 (2 1)
|
1
|
1,368
|
|
3,123
|
|
Dist 5
|
SFR
|
1233 Shrader St
|
$4,000,000
|
4
|
5 (4 1)
|
2
|
3,095
|
|
2,949
|
|
Dist 5
|
SFR
|
4234 24th St
|
$3,249,000
|
6
|
5 (4 1)
|
2
|
5,100
|
|
2,945
|
|
Dist 5
|
SFR
|
387-9 Fair Oaks St
|
$4,799,000
|
7
|
7 (7 0)
|
2
|
3,995
|
|
2,495
|
|
Dist 5
|
SFR
|
4310 23rd St
|
$3,000,000
|
4
|
3 (3 0)
|
2
|
3,245
|
|
2,850
|
|
Dist 5
|
TIC
|
75 Collingwood St
|
$725,000
|
2
|
1 (1 0)
|
0
|
|
|
4,375
|
|
Dist 5
|
TIC
|
126-128 Henry St #126
|
$2,995,000
|
3
|
3 (3 0)
|
1
|
2,160
|
|
2,988
|
|
Dist 5
|
TIC
|
126-128 Henry St #128
|
$2,595,000
|
2
|
2 (2 0)
|
1
|
1,810
|
|
2,988
|
|
Dist 5
|
SFR
|
360 Arlington St
|
$3,500,000
|
3
|
4 (3 1)
|
3
|
2,717
|
|
0
|
|
Dist 5
|
SFR
|
212-A Chattanooga St
|
$2,500,000
|
2
|
2 (2 0)
|
0
|
1,469
|
|
2,883
|
|
Dist 5
|
TIC
|
280 28th St #2
|
$1,200,000
|
2
|
1 (1 0)
|
1
|
|
|
2,962
|
|
Dist 5
|
Condo
|
4670 25th St
|
$995,000
|
2
|
2 (2 0)
|
1
|
993
|
|
637
|
|
Dist 5
|
SFR
|
728 Chenery St
|
$1,100,000
|
2
|
1 (1 0)
|
1
|
1,008
|
|
2,500
|
|
Dist 5
|
Condo
|
198 Corbett Ave
|
$1,495,000
|
3
|
3 (3 0)
|
1
|
|
|
2,071
|
|
Dist 5
|
Condo
|
8 Landers St #102
|
$795,000
|
1
|
1 (1 0)
|
0
|
642
|
|
5,541
|
|
Dist 6
|
Condo
|
2720 Sutter St
|
$1,299,000
|
2
|
2 (1 1)
|
0
|
1,312
|
|
2,812
|
|
Dist 6
|
Condo
|
2001 McAllister St #213
|
$849,000
|
1
|
1 (1 0)
|
1
|
659
|
|
0
|
|
Dist 6
|
Condo
|
311 Grove St #1
|
$899,000
|
1
|
1 (1 0)
|
0
|
|
|
0
|
|
Dist 6
|
Condo
|
311 Grove St #5
|
$1,299,000
|
2
|
2 (2 0)
|
0
|
|
|
0
|
|
Dist 6
|
SFR
|
518 Oak St
|
$2,185,000
|
3
|
2 (2 0)
|
1
|
2,337
|
|
1,994
|
|
Dist 6
|
Condo
|
450 Hayes St #2B
|
$291,653
|
1
|
1 (1 0)
|
0
|
612
|
|
17,406
|
|
Dist 6
|
Condo
|
580 Fell St
|
$1,595,000
|
4
|
2 (1 1)
|
0
|
1,697
|
|
1,312
|
|
Dist 6
|
Condo
|
1280 ellis St #12
|
$998,000
|
3
|
2 (2 0)
|
1
|
1,267
|
|
17,482
|
|
Dist 6
|
SFR
|
1830 Golden Gate Ave
|
$3,195,000
|
6
|
3 (3 0)
|
0
|
4,500
|
|
2,250
|
|
Dist 6
|
SFR
|
1358 Fell St
|
$2,999,888
|
4
|
1 (1 0)
|
0
|
2,650
|
|
3,438
|
|
Dist 7
|
Condo
|
3037 Clay St
|
$2,500,000
|
3
|
2 (2 0)
|
0
|
2,161
|
|
3,471
|
|
Dist 7
|
Condo
|
2349 Vallejo St
|
$3,295,000
|
2
|
3 (2 1)
|
1
|
|
|
3,776
|
|
Dist 7
|
SFR
|
3026 Clay St
|
$6,995,000
|
5
|
4 (3 1)
|
2
|
|
|
0
|
|
Dist 7
|
SFR
|
2742-2744 Baker St
|
$8,995,000
|
4
|
6 (5 1)
|
1
|
4,405
|
|
2,495
|
|
Dist 7
|
SFR
|
2684 Sacramento St
|
$7,495,000
|
5
|
4 (3 1)
|
2
|
3,808
|
|
2,674
|
|
Dist 7
|
SFR
|
77 Pixley St
|
$3,450,000
|
3
|
3 (2 1)
|
2
|
2,200
|
|
1,799
|
|
Dist 7
|
SFR
|
51 Pixley St
|
$2,900,000
|
4
|
4 (3 1)
|
2
|
2,687
|
|
1,477
|
|
Dist 7
|
Condo
|
1734 Bay St #104
|
$950,000
|
1
|
1 (1 0)
|
0
|
592
|
|
7,405
|
|
Dist 8
|
SFR
|
1110 Green St
|
$13,000,000
|
4
|
6 (5 1)
|
2
|
4,818
|
|
3,100
|
|
Dist 8
|
Condo
|
601 Van Ness Ave #248
|
$399,000
|
0
|
1 (1 0)
|
1
|
442
|
|
105,806
|
|
Dist 8
|
Condo
|
640 Davis St #8
|
$2,898,000
|
3
|
3 (3 0)
|
1
|
2,251
|
|
93,129
|
|
Dist 8
|
Condo
|
1150 Lombard St #15
|
$2,500,000
|
2
|
2 (2 0)
|
2
|
1,549
|
|
50,192
|
|
Dist 8
|
Condo
|
1 Daniel Burnham Ct #106
|
$920,000
|
1
|
1 (1 0)
|
1
|
800
|
|
46,157
|
|
Dist 8
|
TIC
|
1100 Leavenworth St #5
|
$1,078,000
|
13
|
7 (7 0)
|
0
|
6,189
|
|
2,406
|
|
Dist 8
|
Condo
|
101 Lombard St #610W
|
$1,065,000
|
1
|
1 (1 0)
|
0
|
923
|
|
113,438
|
|
Dist 8
|
Condo
|
690 Chestnut St #406
|
$1,098,000
|
2
|
2 (2 0)
|
1
|
954
|
|
15,089
|
|
Dist 8
|
Condo
|
1925 Leavenworth St #5
|
$549,000
|
0
|
1 (1 0)
|
0
|
476
|
|
7,900
|
|
Dist 8
|
Condo
|
2338 Jones St
|
$1,580,000
|
2
|
2 (2 0)
|
1
|
1,550
|
|
3,437
|
|
Dist 8
|
Condo
|
444 Francisco St #204
|
$699,000
|
1
|
1 (1 0)
|
1
|
619
|
|
5,095
|
|
Dist 8
|
Condo
|
1688 Pine St #W502
|
$1,399,999
|
2
|
2 (2 0)
|
1
|
1,040
|
|
0
|
|
Dist 9
|
Condo
|
2553 Folsom St #B
|
$1,449,000
|
2
|
1 (1 0)
|
1
|
1,107
|
|
5,144
|
|
Dist 9
|
Condo
|
501 Beale St #9A
|
$1,749,000
|
2
|
2 (2 0)
|
1
|
1,160
|
|
22,594
|
|
Dist 9
|
Condo
|
207 King St #401
|
$1,799,000
|
2
|
3 (2 1)
|
1
|
1,900
|
|
0
|
|
Dist 9
|
Condo
|
260 King St #1319
|
$1,179,000
|
2
|
2 (1 1)
|
1
|
1,099
|
|
213,232
|
|
Dist 9
|
Condo
|
260 King St #551
|
$1,068,000
|
2
|
2 (2 0)
|
1
|
1,104
|
|
213,232
|
|
Dist 9
|
Condo
|
301 Mission St #406
|
$1,600,000
|
1
|
2 (2 0)
|
1
|
1,633
|
|
0
|
|
Dist 9
|
SFR
|
248 Richland Ave
|
$1
|
3
|
1 (1 0)
|
0
|
|
|
2,517
|
|
Dist 9
|
Condo
|
318 Spear St #3H
|
$899,000
|
1
|
1 (1 0)
|
0
|
837
|
|
76,210
|
|
Dist 9
|
Condo
|
301 Mission St #35A
|
$1,795,000
|
2
|
2 (2 0)
|
1
|
1,517
|
|
50,667
|
|
Dist 9
|
Condo
|
201 Folsom St #5A
|
$1,850,000
|
2
|
2 (2 0)
|
1
|
1,368
|
|
75,406
|
|
Dist 9
|
SFR
|
2758-2760 23rd St
|
$1,300,000
|
3
|
2 (2 0)
|
0
|
1,372
|
|
1,271
|
|
Dist 9
|
Condo
|
110 Coleridge St
|
$899,000
|
2
|
1 (1 0)
|
0
|
689
|
|
2,500
|
|
Dist 9
|
Condo
|
1160 Mission St #1007
|
$1,200,000
|
2
|
2 (2 0)
|
0
|
1,043
|
|
43,557
|
|
Dist 9
|
Condo
|
616 20th St #220
|
$970,000
|
2
|
1 (1 0)
|
0
|
770
|
|
5,496
|
|
Dist 9
|
Condo
|
170 King St #814
|
$1,250,000
|
2
|
2 (2 0)
|
1
|
1,029
|
|
42,969
|
|
Dist 9
|
TIC
|
1298 Treat Ave
|
$1,250,000
|
4
|
2 (2 0)
|
0
|
1,250
|
|
4,874
|
|
Dist 9
|
Condo
|
708 Long Bridge St #915
|
$1,949,000
|
2
|
2 (2 0)
|
1
|
1,293
|
|
84,866
|
|
Dist 9
|
Condo
|
1260 Minnesota St #303
|
$1,625,000
|
3
|
3 (2 1)
|
1
|
1,600
|
|
0
|
|
Dist 9
|
SFR
|
25 Bradford St
|
$1,599,000
|
3
|
2 (2 0)
|
1
|
|
|
1,563
|
|
Dist 9
|
Condo
|
301 Main St #11C
|
$1,129,000
|
1
|
1 (1 0)
|
1
|
809
|
|
76,210
|
|
Dist 9
|
Condo
|
1207 Indiana St #18
|
$1,225,000
|
2
|
2 (2 0)
|
1
|
1,277
|
|
9,120
|
|
Dist 9
|
Condo
|
425 1st St #2903
|
$3,259,000
|
3
|
3 (3 0)
|
1
|
1,928
|
|
56,024
|
|
Dist 9
|
Condo
|
25 Sierra St #E207
|
$1,095,000
|
2
|
2 (2 0)
|
1
|
|
|
48,750
|
|
Dist 9
|
Condo
|
718 Long Bridge St #302
|
$1,650,000
|
2
|
2 (2 0)
|
1
|
1,227
|
|
84,866
|
|
Dist 9
|
Condo
|
75 Folsom St #1802
|
$3,295,000
|
2
|
2 (2 0)
|
1
|
1,344
|
|
151,160
|
|
Dist 9
|
Condo
|
330 Mission Bay Blvd #705
|
$1,098,000
|
1
|
1 (1 0)
|
1
|
961
|
|
58,215
|
|
Dist 9
|
Condo
|
1283 Howard St
|
$1,523,888
|
3
|
2 (2 0)
|
1
|
1,500
|
|
2,125
|
|
Dist 9
|
Condo
|
330 Berry St #100
|
$469,028
|
3
|
2 (1 1)
|
0
|
1,159
|
|
28,441
|
|
Dist 9
|
Condo
|
650 Delancey St #110
|
$1,695,000
|
2
|
2 (2 0)
|
1
|
1,560
|
|
61,922
|
|
Dist 9
|
Condo
|
300 Berry St #508
|
$1,275,000
|
2
|
2 (2 0)
|
1
|
1,028
|
|
41,861
|
|
Dist 9
|
Condo
|
480 Mission Bay Blvd #514
|
$1,799,000
|
2
|
2 (2 0)
|
1
|
1,383
|
|
122,891
|
|
Dist 9
|
Condo
|
226 Ritch St #203
|
$899,000
|
1
|
2 (1 1)
|
1
|
856
|
|
3,146
|
|
Dist 9
|
Condo
|
250 King St #1612
|
$899,000
|
1
|
1 (1 0)
|
1
|
888
|
|
213,232
|
|
Dist 9
|
Condo
|
338 Spear St #6A
|
$1,339,000
|
2
|
2 (2 0)
|
1
|
1,167
|
|
76,210
|
|
Dist 9
|
SFR
|
735 Andover St
|
$1,695,000
|
3
|
3 (2 1)
|
1
|
1,750
|
|
1,750
|
|
Dist 9
|
Condo
|
201 Folsom St #18H
|
$1,198,000
|
1
|
1 (1 0)
|
1
|
851
|
|
75,406
|
|
Dist 9
|
Condo
|
174 Langton St #B
|
$728,000
|
1
|
1 (1 0)
|
0
|
|
|
2,000
|
|
Dist 9
|
SFR
|
65 Ellsworth St
|
$2,250,000
|
3
|
3 (2 1)
|
1
|
1,802
|
|
1,750
|
|
Dist 9
|
Condo
|
301 Main St #30A
|
$2,200,000
|
2
|
2 (2 0)
|
1
|
1,268
|
|
76,210
|
|
Dist 9
|
Condo
|
1515 15th St #506
|
$625,000
|
0
|
1 (1 0)
|
1
|
|
|
14,125
|
|
Dist 9
|
SFR
|
276 Ellsworth St
|
$898,000
|
0
|
1 (1 0)
|
1
|
900
|
|
2,100
|
|
Dist 9
|
Condo
|
501 Beale St #21D
|
$1,999,000
|
2
|
2 (2 0)
|
1
|
1,259
|
|
22,594
|
|
Dist 9
|
Condo
|
1160 Mission St #1604
|
$748,800
|
1
|
1 (1 0)
|
1
|
765
|
|
43,557
|
|
Dist 9
|
Condo
|
1930 Mission St #304
|
$549,000
|
0
|
1 (1 0)
|
1
|
343
|
|
0
|
|
Dist 9
|
Condo
|
1071 Natoma St #A
|
$760,000
|
2
|
1 (1 0)
|
0
|
750
|
|
2,329
|
|
Dist 9
|
Condo
|
500 Bryant St #102
|
$1,250,000
|
2
|
3 (2 1)
|
1
|
1,297
|
|
0
|
|
Dist 9
|
Condo
|
333 1st St #N1503
|
$945,000
|
1
|
1 (1 0)
|
1
|
713
|
|
38,571
|
|
Dist 9
|
SFR
|
121 Gates St
|
$2,399,000
|
3
|
3 (3 0)
|
0
|
1,337
|
|
1,750
|
|
Dist 9
|
Condo
|
255 Clara St #302
|
$1,300,000
|
2
|
2 (2 0)
|
1
|
1,239
|
|
0
|
|
Dist 10
|
Condo
|
5800 3rd St #1412
|
$748,000
|
2
|
2 (2 0)
|
1
|
1,046
|
|
0
|
|
Dist 10
|
SFR
|
345 Leland Ave
|
$898,000
|
2
|
1 (1 0)
|
1
|
1,125
|
|
2,761
|
|
Dist 10
|
Condo
|
301 Crescent Ct #3107
|
$815,000
|
2
|
2 (2 0)
|
1
|
|
|
114,415
|
|
Dist 10
|
SFR
|
1427 Underwood Ave
|
$849,000
|
3
|
1 (1 0)
|
1
|
1,350
|
|
2,500
|
|
Dist 10
|
SFR
|
55 Prague St
|
$1,098,000
|
3
|
2 (2 0)
|
1
|
1,160
|
|
2,752
|
|
Dist 10
|
Condo
|
301 Crescent Ct #3417
|
$598,888
|
1
|
1 (1 0)
|
1
|
807
|
|
114,415
|
|
Dist 10
|
SFR
|
225 Naylor St
|
$1,098,000
|
3
|
3 (3 0)
|
2
|
1,211
|
|
3,206
|
|
Dist 10
|
SFR
|
43 Lisbon St
|
$1,425,000
|
2
|
1 (1 0)
|
0
|
1,450
|
|
2,495
|
|
Dist 10
|
SFR
|
114 Parque Dr
|
$980,000
|
3
|
2 (2 0)
|
0
|
2,249
|
|
2,677
|
|
Dist 10
|
Condo
|
501 Crescent Way #5301
|
$575,000
|
1
|
1 (1 0)
|
0
|
787
|
|
0
|
|
Dist 1
|
SFR
|
255 10th Ave
|
$3,500,000
|
9
|
4 (3 1)
|
1
|
3,390
|
|
3,659
|
|
Dist 2
|
SFR
|
2024 15th Ave
|
$1,998,000
|
4
|
5 (4 1)
|
2
|
2,446
|
|
4,094
|
|
Dist 4
|
SFR
|
390 Yerba Buena Ave
|
$3,500,000
|
5
|
3 (3 0)
|
2
|
3,584
|
|
4,721
|
|
Dist 5
|
SFR
|
433 Liberty St
|
$2,200,000
|
1
|
1 (1 0)
|
0
|
|
|
2,848
|
|
Dist 5
|
SFR
|
127 Downey St
|
$2,000,000
|
3
|
2 (1 1)
|
0
|
1,800
|
|
1,398
|
|
Dist 5
|
Condo
|
1473 Waller St
|
$1,950,000
|
3
|
2 (1 1)
|
1
|
1,596
|
|
2,909
|
|
Dist 5
|
TIC
|
1208 Stanyan St #A
|
$2,685,000
|
3
|
3 (2 1)
|
0
|
1,602
|
|
2,495
|
|
Dist 6
|
TIC
|
1255 Fulton St
|
$2,995,000
|
3
|
3 (2 1)
|
2
|
2,615
|
|
6,682
|
|
Dist 7
|
Condo
|
2200 Sacramento St
|
$2,000,000
|
1
|
2 (1 1)
|
1
|
860
|
|
17,550
|
|
Dist 8
|
Condo
|
1340 Clay St #502
|
$2,375,000
|
2
|
2 (2 0)
|
2
|
1,670
|
|
13,212
|
|
Dist 8
|
Condo
|
240 lombard St #932
|
$688,000
|
1
|
1 (1 0)
|
1
|
597
|
|
50,188
|
|
Dist 8
|
Condo
|
1001 California St #7
|
$7,500,000
|
2
|
3 (2 1)
|
0
|
2,980
|
|
4,693
|
|
Dist 8
|
Condo
|
690 Market St #1102
|
$2,995,000
|
3
|
3 (3 0)
|
1
|
2,485
|
|
11,357
|
|
Dist 9
|
Condo
|
188 Minna St #27A
|
$6,600,000
|
3
|
3 (3 0)
|
1
|
2,027
|
|
33,056
|
|
Dist 9
|
SFR
|
654 Precita Ave
|
$2,495,000
|
7
|
5 (5 0)
|
2
|
3,060
|
|
4,500
|
|
Dist 9
|
Condo
|
68 Harriet St #15
|
$958,000
|
1
|
2 (1 1)
|
1
|
1,221
|
|
6,664
|
|
Dist 9
|
Condo
|
99 Rausch St #226
|
$1,249,000
|
2
|
2 (2 0)
|
1
|
857
|
|
32,800
|
|
Dist 9
|
Condo
|
1188 Valencia St #311
|
$895,000
|
1
|
1 (1 0)
|
0
|
|
|
14,316
|
|
Dist 9
|
Condo
|
83 Rondel Pl
|
$1,525,000
|
3
|
2 (2 0)
|
1
|
1,597
|
|
1,771
|
|
Dist 5
|
Vacant Land
|
750 Sanchez
|
$4,950,000
|
|
|
|
|
|
3,019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Type
|
Address
|
Expected Price
|
# Units
|
# Leased
|
Parking Spaces
|
SqFt
|
|
Lot Size (sqft)
|
|
Dist 1
|
4-Unit
|
2101-2107 Anza St
|
$2,100,000
|
4
|
2
|
4
|
4,200
|
|
2,375
|
|
Dist 3
|
2-Unit
|
99 Holloway Ave
|
$1,400,000
|
2
|
1
|
2
|
1,850
|
|
2,495
|
|
Dist 5
|
4-Unit
|
615-619 Guerrero St
|
$2,499,000
|
4
|
0
|
3
|
3,352
|
|
2,674
|
|
Dist 5
|
2-Unit
|
126-128 Henry St
|
$5,590,000
|
3
|
0
|
2
|
3,970
|
|
2,988
|
|
Dist 5
|
2-Unit
|
353-355 Frederick St
|
$1
|
2
|
1
|
0
|
3,450
|
|
3,436
|
|
Dist 6
|
2-Unit
|
1962-1964 Buchanan St
|
$3,100,000
|
2
|
0
|
2
|
2,825
|
|
1,856
|
|
Dist 9
|
2-Unit
|
664-666 Natoma St
|
$1,995,000
|
2
|
0
|
1
|
2,780
|
|
2,500
|
|
Dist 9
|
2-Unit
|
81-83 Rondel Pl
|
$3,000,000
|
0
|
0
|
2
|
3,084
|
|
1,771
|
|
Dist 9
|
2-Unit
|
132-134 Coleridge St
|
$2,195,000
|
3
|
3
|
0
|
2,839
|
|
3,045
|
|
Dist 9
|
3-Unit
|
358-362 Missouri St
|
$2,950,000
|
3
|
1
|
2
|
4,413
|
|
2,495
|
|
Dist 9
|
3-Unit
|
719-721 Shotwell St
|
$2,995,000
|
3
|
0
|
2
|
3,316
|
|
3,916
|
|
Dist 8
|
3-Unit
|
2125 Mason St
|
$2,699,000
|
0
|
0
|
1
|
3,204
|
|
2,328
|
|
Dist 9
|
4-Unit
|
101-103 St Marys Ave
|
$1,850,000
|
4
|
4
|
0
|
2,887
|
|
1,707
|
|
|
|
|
|
|
|
|
We’re proud to be a part of the largest locally owned real estate brokerage for San Francisco and the greater Bay Area. Founded, owned and operated with close ties to the LGBT community, development community and a civic minded spirit that has remained a compelling force in San Francisco’s housing market.
|
|
|
|
|
|
