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San Francisco Resale Condominium Prices Climb to a Six-Year High in May

News for 06.29.18
06.29.18
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Check out these high-level details about the latest new and resale condominium trends in major California markets from experts at Pacific Union subsidiary The Mark Company, then download the full reports.

San Francisco

  • The San Francisco Condominium Pricing Index was unchanged month over month in May but increased by 2 percent year over year to $1,180 per square foot.
  • New-construction absorption totaled 58 units in May, as sales activity accelerated at 815 Tennessee and 99 Rausch. The inventory of new construction units decreased slightly to 547, as the 37-unit Sutter North development at 1238 Sutter St. began selling.
  • Resale activity slowed to 191 transactions in May, down from 258 in April. The average price of resales jumped to $1,444,302, and the average price per square foot rose to $1,172, with both metrics representing their highest monthly peaks since The Mark Company began tracking such data in 2012. Higher-end and luxury units comprised a larger share of the resale pool in May.
  • Active resale inventory decreased to 348 units, representing 1.8 months of inventory, well below the six-month equilibrium point between a buyer’s and seller’s market.

Download the full San Francisco trend sheet.