The 2016 End-of-Year San Francisco Highrise Report
Check out my 2016 End-of-Year San Francisco Highrise Report for info on condo buildings in the Transbay District.
The up-and-coming Transbay District, comprised of South Beach, Rincon Hill, Yerba Buena, SoMa, and Mission Bay has seen incredible changes and record breaking real estate appreciation in the last five years. The same number of listings sold in December 2012 and December 2016. However, the average sales price has increased 26%. In 2012, the average sales price for a condo in the Transbay neighborhoods was $1,163,970. Today’s average sales price is $1,477,875.
We now see market conditions stabilizing. In San Francisco, the average price of a condominium residence is now at where they were at the end of 2015.
This is an interesting year for Transbay neighborhoods. Because of new construction and additional inventory, average prices have decreased slightly. The condo market should rebalance as new inventory sells out. We are projecting a 3.9% increase for 2017. To see how much condos recently sold for in each highrise building, click on my e-booklet below. Feel free to contact me for a hard copy.