Mark Company releases San Francisco Trend Sheet for June
The Mark Company San Francisco Trend Sheet for June 2015, and it’s got some facts and figures that may be of interest. Keep in mind that numbers are just that – numbers – and sometimes they contradict one another. That said, it’s good to keep informed as to the figures that are floating around out there.
According to the Mark Company Condominium Pricing Index, which is the tool for tracking the value of a newly built condo without the volatility of inventory shifts, among new construction there’s been an average of $1,304 per square foot, a 14 percent year-over-year increase and 3 percent month-over-month increase over the past 12 months. In terms of new construction absorption, 95 units sold in the city since last month, a year-over-year decrease of 57 percent and a month-over-month decrease of 43 percent. New construction inventory shows that there are 837 units available, an increase of 109 percent year-over-year and a 3 percent increase month-over-month.
Actively selling developments with 20 or more market-rate units include:
· 400 Grove (30 units, marketing commenced May 2015, 29 sold with one available)
· Fulton 555 (122 units, marketing commenced June 2015, 9 sold with 133 available)
· Lumina (656 units, marketing commenced October 2014, 320 sold with 336 available)
· Mission @1875 (39 units, marketing commenced October 2014, 36 sold with three available)
· Park Lane (33 units, marketing commenced October 2013 with 26 sold and seven available)
In terms of resales, the average price per square foot for condos was $1,039, a 9 percent year-over-year increase and a 10 percent month-over-month increase. There were 226 active listings, 119 active contingent listings and 0.9 months of inventory. There were 167 pending listings, with a pending percentage of 33 percent.