Author: Becky Pezely

ISSUE NO. 05 — SEPT. 2016

Marina Market Update

The Latest Real Estate News and Listings

Second Quarter in Review
Looking back on what happened in the SF housing market

Paul Warrin
Luxury Property Specialist

Since 2012, San Francisco’s overall average sales price has shown tremendous growth year over year. With San Francisco leading the charge after the 2008 market recession, available inventory dwindled and sales prices climbed annually throughout the City. However, second quarter 2016 data from the San Francisco Multiple Listing Service reflected that, while the San Francisco real estate market remains vibrant and strong, there has been a shift in direction.
After seeing significant year-over-year gains, the average sales price throughout San Francisco for single-family homes fell slightly, 2.8 percent, decreasing from an average of $1,79 million in the second quarter of 2015, to an average of $1.74 million in the second quarter of 2016. In our review of seven major districts in the City, we found the average sales price in the second quarter of 2016 for a single-family home decreased in five of them, compared to the second quarter of 2015. In four of the seven districts we analyzed, the average sales price year-over-year for a condominium saw a decline. Throughout the City, condominiums saw a 2.2 percent drop in average sales price, with the average sales price at $1.36 million in the second quarter of 2015, to the average of $1.29 million in the second quarter of 2016.

Paul’s Five
Market Facts
District 7 consists of The Marina, Cow Hollow, Pacific Heights, and Presidio Heights. It is home to some of the most impressive properties in the city. Below are sales figures from the 2nd quarter of 2016.

1

There were 33 sales of single-family homes, and 82 sales of condos, TICs, and co-ops.

2

The average sales price for a single-family home was $5,610,121 down significantly from $7,042,252 in Q2 2015.

3

The average sales price for a condo, TIC, or co-op rose to $1,724,587, down from $1,937,300 in Q2 2015.

4

Single-family homes spent an average of 48 days on the market, longer than 19 days on market in Q2 2015.

5

Condos, TICs, and co-ops spent an average of 30 days on the market, longer than 21 days in Q2 2015.

A Personal Touch
Getting to know Paul

My great-grandfather came to San Francisco in 1901 to build (and move) homes. Similarly, I have helped renovate over $50M worth of luxury properties and have moved (in a different sense) nearly $300M of real estate.
I

John Kambic (center) in 1932 at Frank & John’s Place (Potrero & Mariposa), which he owned — and moved across the street!

Today’s market for properties is not only local, but national and global. Sotheby’s clients benefit greatly from our coast-to-coast offices and vast international network. We have a long history of exceeding expectations of the world’s most discerning clients. I look forward to doing the same for you.
I am happy to provide you with a free, no-obligation, evaluation of the value of your home. Please contact me for details at paul@distinctivesfhomes.com or (415) 407-8019.
Warmly,

Pop Quiz

Paul Warrin
Sotheby’s International Realty
DistinctiveSFHomes.com
paul@distinctivesfhomes.com
(415) 407-8019

Be the first person to correctly identify the landmark pictured above and win a gift certificate for $75 to Gamine on Union Street.
Submit answers to paul@distinctivesfhomes.com

Biggest Sales of 2016 2nd Quarter

Pacific Heights — $11,000,000
2600 Jackson St

Presidio Heights — $11,300,001
3610 Washington St

Presidio Heights — $10,275,000
200 Laurel

Presidio Heights — $9,998,000
101 Maple

What to Expect in 2016
Looking ahead at what’s to come

Declining unemployment, higher wages and low fuel prices have nudged buying power forward. The housing market is again considered strong enough to be a cornerstone of the national economy. Additional contributing factors include better lending standards and an improved housing stock unhampered by foreclosures. Other topics worth attention in 2016 will be affordable inventory for buyers, competition from cash investors for that inventory, and the continuing barrier to entry that is student loan debt for the next generation of homeowners. Home prices should continue to rise in 2016 but perhaps at a tempered pace as the market approaches a natural balancing point.

Price per Square Foot

Paul Warrin Luxury Property Specialist
paul@distinctivesfhomes.com / (415) 407-8019
www.DistinctiveSFHomes.com
CalBRE# 01364693

Paul’s Listings and Recent Sales

Marina- $2,650,000
Off-Market

Marina - Call for Price
Coming Soon

Corona Heights - Call for Price
Coming Soon

Pacific Heights - $3,350,000
Represented Buyer

Presidio Heights - $2,700,000
Represented Buyer

Marina - $2,650,000
Represented Seller

Top Marina Sales of 2016

* based on data from San Francisco Multiple Listing Service