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1241 $1365 $1220 SF TREND SHEET/ MAY 2019 CONDOMINIUM MARKET, DISTRICTS 6-9 PRICE TRACKER ($/SF) $/SF BY DISTRICT San Francisco Districts 6-9 • The Compass Condominium Price Tracker increased to $1,241 in May, up 1.6% MoM and down 0.8% YoY. $1,241 The New Construction Tracker ticked up to $1,365, flat North Beach/ +1.6% MoM | -0.8% YoY Marina/ Telegraph Hill MoM but up 5.2% YoY. The Resale Tracker rose 1.3% to Cow Hollow $1,220 but is down 0.3% YoY. Nob Hill/ FiDi • Transbay/South Beach led all areas in San Francisco in $1,375 Pac Heights/ Presidio Heights Russian Hill YoY price growth, with the Tracker rising 8% to $1,345, $1,325 Transbay/ following 11 closings over $1,500 PSF in May. On a Lower Pac South Beach Heights/WA MoM basis, the Mission Bay/Dogpatch Tracker saw $1,275 the largest MoM increase, by 7% to $1,285, as 901 SoMa Hayes Valley Tennessee reported its first closings. The Financial District/ $1,225 Jackson Square Tracker fell 10% to $1,382, returning to $1,175 Van Ness Mission early-2018 price levels after 288 Pacific sold out. Civic Center Potrero/ Bay/ Mission/ Dogpatch $1,125 Bernal Year-Over-Year Percent Change 5/18 7/18 9/18 11/18 1/19 3/19 5/19 -15% -5% No Change +5% +15% Note: No Change ranges from -1% to +1% change. NEW CONSTRUCTION, DISTRICTS 6-9 PRICE TRACKER ($/SF) INVENTORY & SALES YoY Inventory Up 22% Contracts Signed Inventory • There were 38 new construction $1,365 140 800 +0.1% MoM | +5.2% YoY contracts signed in May, down from 46 in Apr., but still enough to make 120 700 this the second-strongest month since 600 100 $1,375 Nov. 2018. 500 80 $1,325 • New construction inventory rose to 667 units, as the Four Seasons Private 400 60 $1,275 Residences (146 units) began selling. 300 • Supply is expected to trend upward 40 200 $1,225 through the summer. Several mid-rise 20 100 $1,175 projects -- including The Westerly in the Sunset District and 1433 Bush in 0 0 $1,125 Polk Gulch -- are scheduled to begin 5/18 6/18 7/18 8/18 9/18 10/18 11/18 12/18 1/19 2/19 3/19 4/19 5/19 5/18 7/18 9/18 11/18 1/19 3/19 5/19 selling in the coming months. New Construction Contracts New Construction Inventory RESALE, DISTRICTS 6-9 PRICE TRACKER ($/SF) MONTHS OF INVENTORY & SALES 1.9 Months of Inventory Resales Months Inventory $1,220 • There were 181 resale closings in 250 6 May, the most in any month since +1.3% MoM | -0.3% YoY 5 Nov. 2018, as the market gradually 200 returns to mid-2018 sale volumes. $1,375 4 • Months of Inventory—calculated 150 $1,325 based on the 3-month rolling 3 average of closings—fell to 1.9, its 100 $1,275 lowest since Dec. and well below 2 the 4-6 month equilibrium between $1,225 50 supply and demand. 1 $1,175 • Both sales and listings have inched 0 0 upward in the past 4 months, as 5/18 6/18 7/18 8/18 9/18 10/18 11/18 12/18 1/19 2/19 3/19 4/19 5/19 $1,125 5/18 7/18 9/18 11/18 1/19 3/19 5/19 sellers awaiting the wave of IPOs have begun engaging in the market. Resales Months Inventory Compass makes no representations or warranties, express or implied, with respect to future market conditions or prices of residential product at the time the subject property or any competitive property is complete and ready for occupancy or with respect to any report, study, finding, recommendation or other information provided by Compass herein. Moreover, no warranty, express or implied, is made or should be assumed regarding the accuracy, adequacy, completeness, legality, reliability, merchantability or fitness for a particular purpose of any information, in part or whole, contained herein. All material is presented with the understanding that Compass shall not be deemed to provide legal, accounting or other professional services. This is not intended to solicit the purchase or sale of any property. Any and all such warranties are hereby expressly disclaimed. Equal Housing Opportunity. 1 (c) Compass. All Rights Reserved. This information may not be copied, used or distributed without Compass’ consent. SF TREND SHEET/ MAY 2019 ACTIVELY SELLING DEVELOPMENTS MARKETING STATUS DEVELOPMENT COMMENCED SOLD % AVAILABLE CURRENT LIST PRICES APPROX. PPSF 181 Fremont Residences May 2016 31 N/A N/A $2,950,000 - $15,500,000 $3,000+ 181 Fremont Street | 67 units 1868 Van Ness February 2017 35 100% 0 Sold Out $1,380 1868 Van Ness Avenue | 35 units 719 Larkin February 2018 8 22% 28 $656,000 - $815,000 $1,200 719 Larkin Street | 36 units 901 Tennessee January 2019 33 97% 1 $1,699,000 - $1,699,000 $1,450 901 Tennessee Street | 34 units 99 Rausch June 2017 80 81% 19 $799,000 - $1,809,000 $1,350 99 Rausch Street | 99 units Four Seasons Private Residences May 2019 0 0% 14 6 $2,535,000 - $7,840,000 $2,400 706 Mission Street |146 units Fulton 555 July 2017 54 44% 68 $775,000 - $1,549,000 $1,400 555 Fulton Street | 122 units Lumina October 2014 648 99% 8 $1,980,000 - $11,495,000 $1,600 201 Folsom Street | 656 units Mira November 2018 45 19 % 19 0 $1,145,000 - $4,695,000 $1,800 160 Folsom Street | 235 units One Mission Bay May 2016 336 96% 14 $1,199,000 - $2,000,000+ $1,300 110 Channel Street | 350 units Stage 1075 October 2017 76 96% 3 $908,050 - $1,279,000 $1,300 1075 Market Street | 79 units Sutter North June 2018 32 97% 1 $965,000 - $965,000 $1,400 1238 Sutter Street | 33 units The Austin February 2017 78 89% 10 N/A $1,400 1545 Pine Street |88 units The Avery June 2018 25 21 % 93 $1,845,000 - $5,215,000 $2,000 488 Folsom Street |118 units The Harrison April 2016 248 83% 50 $1,195,000 - $8,800,000 $1,600 401 Harrison Street | 298 units Compass makes no representations or warranties, express or implied, with respect to future market conditions or prices of residential product at the time the subject property or any competitive property is complete and ready for occupancy or with respect to any report, study, finding, recommendation or other information provided by Compass herein. Moreover, no warranty, express or implied, is made or should be assumed regarding the accuracy, adequacy, completeness, legality, reliability, merchantability or fitness for a particular purpose of any information, in part or whole, contained herein. All material is presented with the understanding that Compass shall not be deemed to provide legal, accounting or other professional services. This is not intended to solicit the purchase or sale of any property. Any and all such warranties are hereby expressly disclaimed. Equal Housing Opportunity. 2 (c) Compass. All Rights Reserved. This information may not be copied, used or distributed without Compass’ consent. .
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