San Francisco Market Update | Q4 2014

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

San Francisco Market UpdateFourth Quarter 2014

SAN FRANCISCO BROKERAGE

117 Greenwich Street

San Francisco, CA 94111

t. 415.901.1700

sothebyshomes.com

San Francisco, CA | web: 0087074

http://www.sothebyshomes.com/San-Francisco-Real-Estate/sales/0087074

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

Source: SFARMLS - October 1-December 31 each year.

2010 2011 2012 2013 2014

SAN FRANCISCO (TOTAL) 615 665 736 679 654

DISTRICT 1 61 48 62 57 61

DISTRICT 4 70 84 110 92 94

DISTRICT 5 92 92 107 92 93

DISTRICT 6 10 7 19 13 15

DISTRICTS 7 AND 8 32 38 57 45 43

DISTRICT 9 66 58 51 69 66

A MESSAGE FROM OUR MANAGER: Jeffrey G. GibsonAs the book on 2014 closed, the San Francisco real estate market continued to exhibit the same drive and energy seen throughout the year in the fourth quarter of 2014 when compared to the fourth quarter of 2013, according to the San Francisco Multiple Listing Service. The low inventory throughout the city resulted in a decreased number of closed sales, an increase in the average sales price and fewer days that properties stayed on the market. The low inventory level also caused more than half of all properties to sell above their listing price. According to the San Francisco Association of Realtors, about 75 percent of the buyers of single-family homes and 50 percent of the condo, TIC and co-op buyers paid more than the listing price.

Sellers have enjoyed the high buyer demand all year which continued in Q4 2014 to increase the average sales price. The average sales price for a single-family home in San Francisco in the Q4 2014 increased to $1,534,838, up 14 percent from $1,349,289 in Q4 2013. Condominiums followed in a similar fashion, enjoying a 10 percent jump from Q4 2013, bringing their average sales price throughout San Francisco to $1,110,361. This market environment also caused the average days on market for single-family homes to fall to a 33-day average, while condominiums remained steady at a 40-day average.

Q4 TOTAL CLOSED SALES (SINGLE FAMILY HOMES)

Q4 TOTAL CLOSED SALES (CONDOS)

A MESSAGE FROM OUR MANAGER:

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.

2010 2011 2012 2013 2014

SAN FRANCISCO (TOTAL) 554 593 796 839 742

DISTRICT 1 24 33 40 35 38

DISTRICT 4 14 8 15 14 15

DISTRICT 5 96 102 131 121 100

DISTRICT 6 52 59 84 100 84

DISTRICTS 7 AND 8 170 183 222 226 211

DISTRICT 9 162 182 265 299 259

Source: SFARMLS - October 1-December 31 each year.

SAN FRANCISCO BROKERAGE | sothebyshomes.com/sanfrancisco

117 Greenwich Street | San Francisco, CA 94111 | t. 415.901.1700

540

560

580

600

620

640

660

680

700

720

740

760

2010 2011 2012 2013 2014

0

100

200

300

400

500

600

700

800

900

2010 2011 2012 2013 2014

http://www.sirsanfranciscomanager.com/

PACIFIC HEIGHTSWeb ID: 0086720 | $7,750,000

Chic 3bd/3.5ba full-floor cooperative.

Contemporary interiors with park and bay

views. Private entry, doorman. 3-car parking.

Janet Feinberg Schindler | 415.265.5994

RUSSIAN HILLWeb ID: 0087086 | $3,500,000

3bd+/2.5ba half-floor charming cooperative

apartment, beautifully redone with unobstructed

Bay, City and Bridge views, parking.

2164Hyde.com

Betty Brachman | 415.296.2215

PACIFIC HEIGHTSWeb ID: 0087053 | $2,000,000

Remodeled 3bd/3ba in 6 unit building.

Wood-burning fireplace, storage, parking.

JacksonLuxe.com

Paul Ybarbo | 415.640.7281

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 | Q4 2010 2011 2012 2013 2014 % Change(2014 v 2013)

AVERAGE LIST PRICE $1,293,064 $1,261,479 $1,502,994 $1,479,163 $1,642,729 11.1%

AVERAGE SOLD PRICE $1,259,205 $1,251,753 $1,557,809 $1,591,397 $1,805,031 13.4%

AVERAGE DAYS ON MARKET 69 52 42 33 29 -13.8%

TOTAL SINGLE FAMILY HOMES SOLD 61 48 62 57 61 7.0%

DISTRICT 1

0

10

20

30

40

50

60

70

80

2010 2011 2012 2013 2014

San Francisco 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

2010 2011 2012 2013 2014



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




5

CONDOMINIUM SALES


Q4 MARKET OVERVIEW In District 1, both single family homes and condominiums in the fourth quarter of 2014 saw an increase in the average

sales price, and the total number of units sold. The average sales price for a single family home rose 13.4 percent

to $1,805,031 in Q4 2014, up from $1,591,397 in Q4 2013. Condominiums also saw average sales prices grow to

$1,181,224 in Q4 2014 from $910,916 in Q4 2014. As buyers in District 1 were paying more, they also acted more

quickly, as evidenced by decrease in the average days on market for both single family homes and condominiums. In

Q4 2014, a single family home stayed on the market for an average of 29 days, a 13.8 decrease from Q4 2013. In Q4

2014, condominiums remained on the market an average of 37 days compared to 41 days in Q4 2013.

CONDOMINIUMS | Q4 2010 2011 2012 2013 2014 % Change(2014 v 2013)

AVERAGE LIST PRICE $715,665 $693,570 $792,410 $887,770 $1,132,711 27.6%

AVERAGE SOLD PRICE $697,375 $677,530 $823,267 $910,916 $1,181,224 29.7%


TOTAL CONDOS SOLD 24 33 40 35 38 8.6%

DISTRICT 1

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014




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 LIST PRICE $1,005,153 $870,248 $1,049,765 $1,122,029 $1,225,321 9.2%

AVERAGE SOLD PRICE $990,396 $877,021 $1,081,658 $1,195,500 $1,374,731 15.0%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

2010 2011 2012 2013 2014







7

CONDOMINIUM SALES


Q4 MARKET OVERVIEW The average sales price for a single family home in District 4 was close behind the overall average sales price for San

Francisco in the fourth quarter of 2014, leaping from $1,195,500 in Q4 2013 to $1,374,731. Condominiums also saw

average sales prices increase to $593,997, ascending 23.1 percent from Q4 2013 and finally moving ahead of the high

average price set in Q4 2010, when the average sales price was $527,179. Demand for properties remained strong

in District 4, as the total number of units sold in the district grew and the average number of days a property stayed

on the market fell. 94 single family homes were sold in Q4 2014, up 2.2 percent from Q4 2013, and 15 condominiums

were sold in Q4 2014, a 7.1 percent increase from Q4 2013. The average days on the market in District 4 fell below

the city average, with single family homes remaining on the market an average of 24 days (a 33.9 percent drop), and

condominiums staying on the market an average of 35 days (a 35 percent drop).


AVERAGE LIST PRICE $543,079 $393,000 $461,427 $468,060 $540,297 15.4%

AVERAGE SOLD PRICE $527,179 $393,875 $475,367 $482,596 $593,997 23.1%


TOTAL CONDOS SOLD 14 8 15 14 15 7.1%

DISTRICT 4

0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014




8




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.






$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

2010 2011 2012 2013 2014







9

CONDOMINIUM SALES


DISTRICT 5

Q4 MARKET OVERVIEW In the fourth quarter of 2014, the average sales price for a single family home in District 5 increased to $2,135,397 from

$1,864,321 in Q4 2013, a 14.5 percent gain that was well above the overall city average. The average sales price for

condominiums also rose 6.4 percent, increasing to $1,139,201 in Q4 2014 from $1,071,095 in Q4 2013, closely mirroring

the averages seen throughout the city. Single family homes were popular among buyers in Q4 2014, and remained on the

market an average of 26 days—a 20.3 percent drop from Q4 2013. Condominiums also closed at a higher rate, with the

average days on market falling to 35 days in Q4 2014. While only one more single family home was sold in Q4 2014 (93)

than in Q4 2013 (92), a low level of inventory for condominiums in the district resulted in a 17.4 percent drop in total units

sold in Q4 2014 compared to Q4 2013.



AVERAGE SOLD PRICE $815,286 $764,314 $851,196 $1,071,095 $1,139,201 6.4%


TOTAL CONDOS SOLD 96 102 131 121 100 -17.4%

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014




10




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.




AVERAGE DAYS ON MARKET 75 66 36 26 27 0.8%


0

10

20

30

40

50

60

70

80

2010 2011 2012 2013 2014


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2010 2011 2012 2013 2014







11

CONDOMINIUM SALES


DISTRICT 6

Q4 MARKET OVERVIEW Much like the rest of the city, the average sales prices in District 6 continued to climb in the fourth quarter of 2014. The

average sales price for single family homes experienced one of the highest increases in the city in Q4 2014, rising from

$1,888,385 in Q4 2014 to $2,430,867 in Q4 2014, a 28.7 percent increase. Condominiums followed in similar fashion in

Q4 2014, seeing a 21.3 percent increase, and bringing the average sales price to $1,008,712. High buyer demand for single

family homes helped bring the total number sold up from 13 homes sold in Q4 2014 to 15 homes sold in Q4 2014, and kept

the average days on the market for a single family home at 27 days in Q4 2014, below the citywide average. A shortage of

condominiums in the area kept prices high, but resulted in the total number of condominiums sold decreasing 16 percent

in Q4 2014, with 84 units sold in Q4 2014 compared to 100 in Q4 2013.


AVERAGE LIST PRICE $647,008 $648,249 $690,084 $782,040 $915,557 17.1%


AVERAGE DAYS ON MARKET 68 69 64 29 49 67.9%


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014




12




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.





TOTAL SINGLE FAMILY HOMES SOLD 32 38 57 45 43 -4.4%

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

2010 2011 2012 2013 2014

San Francisco Districts 7 & 8

0

10

20

30

40

50

60

70

80

2010 2011 2012 2013 2014







13

CONDOMINIUM SALES


DISTRICTS 7 and 8

Q4 MARKET OVERVIEW Districts 7 and 8 continued to see the average sales prices climb, and stay above the overall San Francisco average in the

fourth quarter of 2014. Over the last few years, the average sales price for a single family home and a condominium in

both District 7 and 8 grew in steady increments, and in Q4 2014 that trend continued. The average sales price for a single

family home increased from $4,316,067 in Q4 2014 to $4,429,488 in Q4 2014, a healthy 2.6 percent gain, and the average

sales price for a condominium rose 10.1 percent, climbing to $1,333,006 in Q4 2014. A low level of inventory resulted in

shorter days on market for both single family homes and condominiums, when comparing Q4 2013 and Q4 2014. The

average days on market for single family homes fell 13.9 percent to 39 days, and condominiums stayed on the market an

average of 37 days in Q4 2014.


AVERAGE LIST PRICE $932,139 $880,693 $1,109,972 $1,183,534 $1,277,180 7.9%

AVERAGE SOLD PRICE $902,369 $859,102 $1,110,151 $1,210,598 $1,333,006 10.1%



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014




14




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.


AVERAGE LIST PRICE $805,180 $727,643 $875,138 $1,120,636 $1,173,252 4.7%

AVERAGE SOLD PRICE $814,731 $756,364 $934,608 $1,265,595 $1,331,576 5.2%


TOTAL SINGLE FAMILY HOMES SOLD 66 58 51 69 66 -4.3%

0

10

20

30

40

50

60

70

2010 2011 2012 2013 2014


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2010 2011 2012 2013 2014







15

CONDOMINIUM SALES


DISTRICT 9

Q4 MARKET OVERVIEW District 9 continued to see the average sales price climb in the fourth quarter of 2014 for both single family homes and

condominiums, with both types of properties seeing the average grow over 5 percent. The average sales price for a single

family home increased from $1,265,595 in Q4 2013 to $1,331,576 in Q4 2014. Condominiums finally moved over $1

million, as the average sales price increased from $983,846 in Q4 2013 to $1,038,658 in Q4 2014. Due to a shortage of

inventory throughout the district, the total number of units closed for both single family homes and condominiums fell

in Q4 2014. However, the shortage has also caused buyers to quickly close their deals in Q4 2014. The average days on

market for both a single family home and a condominiums continued to decrease, with single family homes being on the

market an average of 26 days in Q4 2014, and condominiums remained on the market an average of 37 days.






$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2010 2011 2012 2013 2014


0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014




SIGNIFICANT SALES | Q4 2014

PACIFIC HEIGHTS | Web ID: 0086861 | $14,000,000San Francisco Brokerage | Thomas Biss | 415.901.1776

COW HOLLOW | Web ID: 0086810 | $8,500,000San Francisco Brokerage | C. Goodman and L. Miller | 415.901.1797

COW HOLLOW | Web ID: 0086821 | $4,680,597San Francisco Brokerage | J. Wynne, S. Morgensen | 415.296.2223

RUSSIAN HILL | Web ID: 0087034 | $3,225,000San Francisco Brokerage | Betty Brachman | 415.296.2215

PACIFIC HEIGHTS | Web ID: 0086872 | $2,525,000San Francisco Brokerage | Paul Warrin | 415.901.1761

POTRERO HILL | Web ID: 0086898 | $2,187,500San Francisco Brokerage | Mary Lou Castellanos | 415.901.1769








AUCTION CALENDAR NORTH AMERICA

Americana Auction 23 & 25 January

The Collection of Roy and Ruth Nutt: Important Americana & Decorative Arts Auction 23 January

The Collection of Roy and Ruth Nutt: Highly Important American Silver Auction 24 January

Master Drawings Auction 25 January

Master Paintings: Part I Auction 29 January

Selected Renaissance and Mannerist Works of Art Assembled by Fabrizio Moretti Auction 29 January

Master Paintings and Sculpture: Part II Auction 29 January

Old Master & 19th Century European Art Auction 30 January

Important Jewels Auction 5 February

Wine Auction 28 February

(a)

(c)

(b)

and

(a) An American silver soup tureen and cover for Daniel Webster, Thomas Fletcher Philadelphia, 1820. Estimate $30,000–50,000 (b) SANO DI PIETRO The Madonna and

Child enthroned, above them Christ Pantocrator. Estimate $400,000–600,000 (c) Platinum, zircon and diamond brooch and earclips, circa 1950. Estimate $8,000–12,000

Enquiries +1 212 606 7000 Sotheby’s 72 & York. Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

JD_1519635_January February Auction Calendar Ad Final.indd 1 1/12/15 3:43 PM

left to right from top to bottom:

METROPOLITAN MARKETS

BROOKLYN, NY | Web: 0137448 | $5,214,773

SAN FRANCISCO, CA | Web: 0086944 | $4,499,000

HOUSTON, TX | Web: 1231131 | $5,750,000

RESORT MARKETS

MALIBU, CA | Web: 0172718 | $4,479,000

PALM BEACH, FL | Web: 0076523 | $5,250,000

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

FOREIGN MARKETS

SOUTH AFRICA | Web: E37YLR | $5,961,020

ITALY | Web: YZXMX7 | $5,622,785

THAILAND | Web: SN59KW | $5,225,000

sothebysrealty.com

ON THE MARKET

http://www.sothebyshomes.com/Los-Angeles-Real-Estate/sales/1290006

http://www.sothebyshomes.com/Santa-Barbara-Real-Estate/sales/0113855

http://www.sothebyshomes.com/houston/sales/1250117

http://www.sothebysrealty.com/eng/sales/detail/180-l-768-nm2gg7/bethune-paris-pa-75004

http://www.sothebyshomes.com/palmbeach/sales/0076361

http://www.sothebysrealty.com/eng/sales/detail/180-l-761-s7rfq8/ruby-court-block-02-repulse-bay-hk

http://www.sothebysrealty.com/eng/sales/detail/180-l-1952-rvvkq4/prestigious-penthouse-with-views-in-portofino-portofino-ge-16034

http://www.sothebyshomes.com/nyc/sales/0019670


Documents

San Francisco Market Update | Q4 2014