San Francisco Market Update | Q3 2015

All data within this document is pulled from the San Francisco MLS.

San Francisco Market UpdateThird Quarter 2015

SAN FRANCISCO BROKERAGE

117 Greenwich Street

San Francisco, CA 94111

t. 415.901.1700

sothebyshomes.com

San Francisco, CA | web: 0087620

http://www.sothebyshomes.com/San-Francisco-Real-Estate/sales/0087620

http://www.sothebyshomes.com/San-Francisco-Real-Estate

Source: SFARMLS - July 1-September 30 each year.

2011 2012 2013 2014 2015

SAN FRANCISCO (TOTAL) 626 638 705 612 571

DISTRICT 1 48 49 60 58 48

DISTRICT 4 64 74 78 69 82

DISTRICT 5 78 97 93 71 69

DISTRICT 6 3 8 12 6 14

DISTRICTS 7 AND 8 33 21 36 29 17

DISTRICT 9 64 70 70 69 64

A MESSAGE FROM: JEFFREY G. GIBSONSenior Vice President and Brokerage ManagerFollowing a robust first half of the year, tight inventory and a continued rise in the average sales price throughout San Francisco dominated the real estate landscape in the third quarter of 2015, according to our analysis of data from the San Francisco Multiple Listing Service. Total sales of single-family homes and condominiums were down throughout San Francisco in Q3 2015 compared to the Q3 2014. Buyers reacted to the limited inventory in Q3 2015 by continuing to drive the average sales price up. Listings were not on the market long; a single-family home on the market in Q3 2015 closed in an average of 26 days and condominiums also saw a decreased timeframe on market, lasting an average of only 30 days.

The average sales price of a single-family home across San Francisco climbed 13.6 percent from Q3 2014 to Q3 2015. In fact, certain Districts experienced more than a 20 percent increase in average sales price; including District 4 (26.8 percent), District 9 (23.3 percent), and Districts 7 and 8 (27.7 percent). Although the total number of sales in the City fell overall, each District saw different results. Some areas, like Districts 7 and 8, saw a 41.4 percent drop in total single-family homes sold from 29 units in Q3 2014 to 17 units in Q3 2015. By contrast, over twice as many single-family homes were sold in District 6, from 6 units sold in Q3 2014 to 14 units sold in Q3 2015.

Q3 TOTAL CLOSED SALES (SINGLE FAMILY HOMES)

Q3 TOTAL CLOSED SALES (CONDOS)

Jeffrey G. Gibson

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

2011 2012 2013 2014 2015

SAN FRANCISCO (TOTAL) 664 828 873 784 659

DISTRICT 1 40 39 45 54 45

DISTRICT 4 10 10 14 11 18

DISTRICT 5 115 109 130 105 90

DISTRICT 6 60 88 89 79 65

DISTRICTS 7 AND 8 191 229 233 201 172

DISTRICT 9 214 305 326 298 227

Source: SFARMLS - July 1-September 30 each year.

SAN FRANCISCO BROKERAGE 117 Greenwich StreetSan Francisco, CA 94111 t. 415.901.1700

sothebyshomes.com/sanfrancisco

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2011 2012 2013 2014 2015

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2011 2012 2013 2014 2015

http://www.sirsanfranciscomanager.com/

PRESIDIO HEIGHTSWeb ID: 0087486 | $ 11,000,000

Elegant, stately renovated 6 bedroom, 5 full

baths, 3 half bath residence. 3323Clay.com

Gloria Smith, John Taylor | 415.377.5410

COW HOLLOWWeb ID: 0087588 | $5,250,000

Beautiful 3 bedroom, 2 and a half bath

Tudor-style home in secluded garden setting.

Janet F. Schindler | 415.265.5994

SOMAWeb ID: 0087354 | $$2,995,000

Modern 2bd/2ba condo. Southwest corner with

views and natural light. 301Mission31E.com

James Testa | 415.515.6097

FEATURED PROPERTIES




4

SINGLE FAMILY HOME SALES

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

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

ABOUT DISTRICT 1Also known as the Richmond District, District 1 is nestled on

the Northwest corner of San Francisco. Home to many distinct

neighborhoods, including Jordan Park, Lake, Laurel Heights, Outer

Richmond, Central Richmond, Inner Richmond, and Sea Cliff, the

district borders both the Golden Gate Park and the Pacific Ocean. In

District 1, residents and visitors alike can enjoy some fun in the park,

or sit back and gaze upon the vast ocean.

SINGLE FAMILY HOMES | Q3 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $1,162,170 $1,371,510 $1,339,550 $1,451,233 $1,535,325 5.8%

AVERAGE SOLD PRICE $1,165,000 $1,415,380 $1,441,654 $1,638,088 $1,771,029 8.1%

AVERAGE DAYS ON MARKET 66 39 33 24 23 -4.0%

TOTAL SINGLE FAMILY HOMES SOLD 48 49 60 58 48 -17.2%

DISTRICT 1

$-

$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

2011 2012 2013 2014 2015

San Francisco District 1

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20

30

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60

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2011 2012 2013 2014 2015



http://www.sothebyshomes.com/Los-Angeles-Real-Estate




5

CONDOMINIUM SALES


Q3 MARKET OVERVIEW In Q3 2015, District 1 continued to mirror citywide averages. In the last few years, the average sales price for a single

family home in District 1 has steadily increased. Staying right above the City, the average went from $1,638,088 in Q3

2014 to $1,771,029 in Q3 2015, an 8.1 percent increase. While slightly below the national average, the average sales

price for a condominium also increased. In Q3 2014, the average sales price for a condominium was just below $1

million, at $976,361. In Q3 2015, the average increased 13.8 percent to $1,111,093. Low inventory may have contributed

to higher sales prices, as total units sold were down for both single family homes and condominiums. 48 single family

homes were sold in Q3 2015, a 17.2 percent decrease from the 58 units that were sold in Q3 2014. Condominiums also

experienced a similar 16.7 percent drop; from 54 units sold in Q3 2014 to 45 units in Q3 2015.

CONDOMINIUMS | Q3 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $680,494 $768,923 $828,511 $893,981 $1,019,667 14.1%

AVERAGE SOLD PRICE $673,458 $784,397 $890,222 $976,361 $1,111,093 13.8%


TOTAL CONDOS SOLD 40 39 45 54 45 -16.7%

DISTRICT 1

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2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015




6




ABOUT DISTRICT 4 District 4, also referred to as West of Twin Peaks is located in 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.

DISTRICT 4




AVERAGE DAYS ON MARKET 80 38 34 20 25 27.3%

TOTAL SINGLE FAMILY HOMES SOLD 64 74 78 69 82 18.8%

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40

50

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2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015







7

CONDOMINIUM SALES


Q3 MARKET OVERVIEW While total sales decreased in most areas of San Francisco, properties in District 4 experienced some of the highest

total sales seen in the last few years. Total condominium sales jumped 63.6 percent, with 18 units sold in Q3 2015

compared to 11 units sold in Q3 2014. Total sales for single family homes were also up, leaping from 69 units sold in Q3

2014 to 82 homes sold in Q3 2015, an 18.8 percent increase. The number of sales didn’t deter buyers in District 4 from

paying higher prices as the average sales price continued to grow. The average sales price for a single family home in

District 4 increased 26.8 percent, one of the highest increases in the city. The average sales price for a condominium

also continued to steadily grow, going from $678,059 in Q3 2014 to $741,796 Q3 2015. District 4 was also one of the

few areas were the average days a single family home remained on the market went up, jumping from 20 days in Q3

2014 to 25 days in Q3 2015, a 27.3 percent increase.


AVERAGE LIST PRICE $441,178 $494,590 $549,807 $628,241 $709,351 12.9%

AVERAGE SOLD PRICE $435,750 $505,800 $598,593 $678,059 $741,796 9.4%


TOTAL CONDOS SOLD 10 10 14 11 18 63.6%

DISTRICT 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


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40

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2011 2012 2013 2014 2015




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DISTRICT 5

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.






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20

30

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2011 2012 2013 2014 2015


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2011 2012 2013 2014 2015







9

CONDOMINIUM SALES


DISTRICT 5

Q3 MARKET OVERVIEW In District 5, a dwindling inventory contributed to a decrease in total sales for both single family homes and

condominiums. The number of condominiums sold fell to 90 units sold in Q3 2015, the first time in the last few years

that number has been below triple digits in the third quarter. The total number of single family homes sold also fell 2.8

percent in Q3 2015 compared to Q3 2014. With their options limited, buyers continued to drive the average sales price

higher in the district. The average sales price for a condominium climbed 18.1 percent, going from $1,165,078 in Q3

2014 to $1,375,639 in Q3 2015. The average sales price for a single family home also grew from $2,025,311 in Q3 2014

to $2,209,164 in Q3 2015. Sellers in District 5 didn’t have their properties on the market for very long. The average days

on market for a single family home fell from 27 days in Q3 2014 to 20 days in Q3 2015, and condominiums remained on

the market an average of 29 days in Q3 2015.


AVERAGE LIST PRICE $726,081 $884,048 $960,318 $1,036,014 $1,241,612 19.8%

AVERAGE SOLD PRICE $728,359 $918,505 $1,053,542 $1,165,078 $1,375,639 18.1%



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2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2011 2012 2013 2014 2015




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DISTRICT 6

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.





TOTAL SINGLE FAMILY HOMES SOLD 3 8 12 6 14 133.3%

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2011 2012 2013 2014 2015


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$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2011 2012 2013 2014 2015







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CONDOMINIUM SALES


DISTRICT 6

Q3 MARKET OVERVIEW The sales numbers in District 5 for single family homes and condominiums told two distinct stories in Q3 2015. Going

against city wide trends, the total number of single family homes sold in the district moved up to 14 units in Q3 2015,

and was one of the few areas in the City to experience an increase. This influx of more sales kept the average sales

price relatively flat at $2,546,786 in Q3 2015, a slight 2 percent increase over Q3 2014. Single family homes stayed on

the market for 17 days Q3 2014, the lowest average seen in the last few years. That number bounded back up to 22

days in Q3 2015. Unlike single family homes, the numbers for condominiums trended with the rest of the City. The total

number of condominiums sold fell from 79 units in Q3 2014 to 65 units in Q3 2015. District 6 also had one of the largest

gains in the average sales price of condominiums, jumping 31.1 percent from $875,475 in Q3 2014 to $1,147,985 in Q3

2015.


AVERAGE LIST PRICE $683,630 $700,604 $782,308 $798,451 $1,037,696 30.0%

AVERAGE SOLD PRICE $672,113 $726,193 $838,497 $875,475 $1,147,985 31.1%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015




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DISTRICTS 7 and 8

ABOUT DISTRICTS 7 and 8 Districts 7 and 8 host some of the most impressive 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 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.






0

10

20

30

40

50

60

70

80

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

2011 2012 2013 2014 2015







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CONDOMINIUM SALES


DISTRICTS 7 and 8

Q3 MARKET OVERVIEW Low inventory in Districts 7 and 8 continued to decrease the total number of sales of single family homes and

condominiums in Q3 2015. Single family homes experienced a considerable decrease with total sales falling from 29

units sold in Q3 2014 to 17 units sold in Q3 2015. This was a 41.4 percent decline year over year, and the lowest total

seen in the last few years. Condominiums in the area also experienced a similar decrease in total sales numbers going

from 201 units sold in Q3 2014 to 172 units sold in Q3 2015. Shorter sales totals may have led to an increase in the

average sales price in the area. In Q3 2014, the average sales price for a single family home dipped to $4,328,582, but

in Q3 2015 the price rebounded, climbing 27.7 percent to $5,525,471, one of the highest gains in the city. The average

sales price for a condominium also rose, going from $1,287,623 in Q3 2014 to $1,369,737in Q3 2015.


AVERAGE LIST PRICE $777,494 $916,955 $1,161,293 $1,232,360 $1,282,588 4.1%




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2011 2012 2013 2014 2015


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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2011 2012 2013 2014 2015




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DISTRICT 9

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.






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2011 2012 2013 2014 2015


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015







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CONDOMINIUM SALES


DISTRICT 9

Q3 MARKET OVERVIEW Total sales were down in Q3 2015, but prices continued to climb in District 9. The average sales price for a single family

home increased just above $1.5 million in Q3 2015, rising 23.3 percent above the average in Q3 2014. The average sales

price for a condominium also rose to $1,124,880 in Q3 2015, a 7.8 percent increase from Q3 2014. Since 2012, total

sales of single family home have hovered around 70 units sold in the third quarter, but that number fell to 64 units sold

in Q3 2015, closer to the total presented in Q3 2011. Total sales of condominiums also fell from 298 units sold in Q3

2014 to 227 units sold in Q3 2015, a 23.8 percent decrease year over year, and one of the lowest percentage decreases

in the city. Properties in District 9 didn’t stay on the market for very long. A single family home remained on the market

an average of 22 days in Q3 2015, and a condominium stayed on the market an average 31 days in Q3 2015.



AVERAGE SOLD PRICE $661,527 $815,000 $878,705 $1,043,291 $1,124,880 7.8%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015


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2011 2012 2013 2014 2015




SIGNIFICANT SALES | Q3 2015

RUSSIAN HILL | Web ID: 0087388 | $5,200,000San Francisco Brokerage | Rick Teed, Butch Haze | 415.250.3988

PACIFIC HEIGHTS | Web ID: 0087454 | $3,750,000.00San Francisco Brokerage | Amanda Jones | 415.218.2179

SOMA | Web ID: 0087374 | $3,300,000San Francisco Brokerage | Gregg Lynn | 415.901.1780

SOMA | Web ID: 0087126 | $2,450,000 San Francisco Brokerage | Daniel DeVartanian | 415.901.1727

SAN FRANCISCO | Web ID: 0087567 | $1,825,000San Francisco Brokerage | A. Kwiecien, B. Lamothe, E. Turner | 415.377.4366

FINANCIAL DISTRICT | Web ID: 0087528 | $1,750,000San Francisco Brokerage | Dean Badessa | 415.474.5140

AUCTION CALENDAR OCTOBER | NOVEMBER 2015

American Paintings, Drawings and Sculpture New York 02 Oct

Modern and Contemporary Asian Art Evening Sale Hong Kong 04 Oct

Photographs New York 07 Oct

RM Sotheby’s: Hershey Hershey 08 – 09 Oct

Property from a Distinguished Private Asian Collection New York 15 Oct

Château Margaux 1900–2010 Direct From The Cellars: A Celebration of the Mentzelopoulos Era New York 17 Oct

Collections: European Decorative Arts New York 17 Oct

The Creative Genius of Sam Simon: A Lifetime of Memorabilia New York 22 Oct

Impressionist & Modern Art Evening Sale New York 05 Nov

Contemporary Art Evening Auction New York 11 Nov

Finest and Rarest Wines New York 14 Nov

American Art New York 18 Nov

Latin America: Modern Art Latin America: Contemporary Art New York 19 – 20 Nov

Prints & Multiples New York 23 – 24 Nov

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

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AUCTION CALENDAR OCTOBER | NOVEMBER 2015

American Paintings, Drawings and Sculpture New York 02 Oct

Modern and Contemporary Asian Art Evening Sale Hong Kong 04 Oct

Photographs New York 07 Oct

RM Sotheby’s: Hershey Hershey 08 – 09 Oct

Property from a Distinguished Private Asian Collection New York 15 Oct

Château Margaux 1900–2010 Direct From The Cellars: A Celebration of the Mentzelopoulos Era New York 17 Oct

Collections: European Decorative Arts New York 17 Oct

The Creative Genius of Sam Simon: A Lifetime of Memorabilia New York 22 Oct

Impressionist & Modern Art Evening Sale New York 05 Nov

Contemporary Art Evening Auction New York 11 Nov

Finest and Rarest Wines New York 14 Nov

American Art New York 18 Nov

Latin America: Modern Art Latin America: Contemporary Art New York 19 – 20 Nov

Prints & Multiples New York 23 – 24 Nov

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

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left to right from top to bottom:

METROPOLITAN MARKETS

NEW YORK, NY | Web: 0019986 | $4,995,000

SAN FRANCISCO, CA | Web: 0087588 | $5,250,000

HOUSTON, TX | Web: 1250301 | $5,499,000

RESORT MARKETS

CARMEL, CA | Web: 0474151 | $5,495,000

PALM BEACH, FL | Web: 0076501 | $4,950,000

MONTECITO, CA | Web: 0113874 | $5,000,000

FOREIGN MARKETS

BELIZE | Web: ZJWCRR | $5,995,000

COSTA RICO | Web: 5HW2RZ | $5,900,000

SPAIN | Web: 3FV283 | $5,880,376

sothebysrealty.com

ON THE MARKET

http://www.sothebyshomes.com/sales/0474151



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http://www.sothebysrealty.com/eng/sales/detail/180-l-3695-zjwcrr/villa-at-grand-caribe-luxury-5-bedroom-custom-home-on-the-beach-san-pedro-town-ac

http://www.sothebysrealty.com/eng/sales/detail/180-l-973-5hw2rz/mesmerising-modern-beauty-nacascolo-liberia-gu



Documents

San Francisco Market Update | Q3 2015