Mark Co.: San Francisco condo development continues apace
While absorption of new condominiums in San Francisco was unchanged year over year in December, inventory was down significantly during the same time. That’s according to The Mark Company, whose Trend Sheet finds that with 569 units available, inventory had plunged 27 percent from a year earlier, though just one percent month over month.
The Mark Company’s Condominium Pricing Index finds that the average over the past 12 months is $1,206 per square foot, an increase of 2 percent year over year and a decrease of 1 percent month over month.
Here’s a listing of actively selling developments with 20 or more market-rate units:
- 1001 Seventeenth (26 units, four sold)
- 400 Grove (30 units, 29 sold)
- Fulton 555 (122 units, 49 sold)
- LuXe (34 units, 10 sold)
- Lumina (656 units, 406 sold)
- 6 Mint (22 units, 18 sold)
- Onyx on the Park (21 units, all sold)
- Park Lane (33 units, 28 sold)
- Rockwell (260 units, 216 sold)
- Seventy2 Townsend (67 units, 47 sold)
- Summit 800 (182 units, 120 sold)
- The San Francisco Shipyard, Blocks 53-54 (143 units, 78 sold)
In terms of resales, condominium prices were at $991 per square foot, a trend of 11 percent up year over year and 3 percent down month over month. There were 249 sales, a 19 percent jump year over year and 32 percent month over month. There were 117 active condominium listings and 103 pending units.