The median new construction price per square foot has risen to $1,326. It is expected that the majority of all condominium units currently under construction will be released for sale in 2016, suggesting a potential shortage of new units in 2017. There are a number of developments in the approval, review and/or conceptual process including Tenderloin, Treasure Island, Mid-Market and Dogpatch, to name a few.
For the most recent quarter, the median price for a new condominium was $1,290,000. 147 units closed while 516 units remain available. Price per square foot increased 11% year-over-year and 7% month-over-month.
The median price for resale condos was $1,100,000 with 562 units sold and 142 remaining on the market. Price per square foot was $958, a 1% increase year-over-year.
The below are some of the properties currently selling:
- 450 Hayes
- The District
- 1001 Seventeenth
- Lumina
- The Rockwell
- Luxe
- Fulton 555
- 72 Townsend
- San Francisco Shipyard
- Summit 800
- 6 Mint Plaza
Click here to read the February San Francisco Development Report in its entirety.
If you're in the market to purchase a condominium in San Francisco, contact The Costa Group to find out how we can help you find the perfect home to fit your lifestyle.
