For your perusal …
Paragon recently drafted a pair of charts and I thought you would like to know what they’re all about.
The chart that accompanies this article is a reworking of one that we at Paragon did last spring. It’s San Francisco condo values and sizes presented by the era of construction. One thing to keep in mind while we look at this one: all things being equal (which they rarely are), the smaller the unit, the higher the dollar per square foot. Average unit sizes have steadily declined over the last hundred years, but there are lots of other issues. These include quality and appeal of construction, which varied greatly by period, where a certain era’s buildings were mostly built. Think Marina flats built in the 1920s or Cole Valley Edwardian flats. In addition, another issue to consider is whether there’s a view, especially if we’re talking about a high-rise.
Of course, the base dollar per square foot value for new construction condos seems to be steadily on the rise. For example, The Mark Company estimates that the average at Lumina, which is certainly a pricey but accurate property to note, is now $1400 per square foot.
The second chart that Paragon has released was also added to our online report on new housing construction. It breaks down San Francisco new home construction trends in terms of housing units built by decade, using approximate numbers, illustrating the general decline in new housing being added to the city’s supply over the past four decade. The first decade of the new millennium saw a surge, followed by a big drop in 2008 to 2012, and now we’re in the beginning stages of another surge.
Call me with any questions.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com