S.F. Condo Market Is Red Hot
A report just off the presses this morning reveals the city-wide median sales price for a condo in 2013 was just shy of $840k, which is wayyy up from about $660k in 2009. (To be fair, the condo is the same price: it's the gallon of gasoline foolishly stored in the closet that's skyrocketed.)
Jackson Fuller's S.F. real estate report includes stats for every one of S.F.'s 80-plus neighborhoods. Matt Fuller, a Zephyr agent and Jackson Fuller co-founder, tells us it's remarkable to see just shy of 3,000 condos sold in the MLS. (In 2009, it was nearly 1,800.)
That's good news for Tishman Speyer and China Vanke's 655-unit, two-tower condo project going up at 201 Folsom (above). According to the report, condos in the Inner Mission sold for 16% over the asking price, on average, while those in the Inner Sunset went for an average of 17% over. Matt says the S.F. market was strong across the board. The median days on the market for condos in Cow Hollow was 25 in 2013; in Pacific Heights, it was 24.
