San Francisco Core Downtown Market Watch
South Beach and Mission Bay are considered two of San Francisco’s core downtown neighborhoods. As new condo sales are absorbed into the San Francisco’s resale condo inventory, we can look at the condo market through a blended real estate lens that includes other core downtown neighborhoods: North Waterfront, Nob Hill and Pacific Heights to name a few.
Compass development marketing group provides you with the most up-to-date closing info for sales conditions in this tailored blended market report for luxury condos. I am pleased to share this report with you and I hope you find it useful for understanding the core downtown neighborhood as a whole.
Prices remained less impacted while inventory remains low, and sellers are resisting deep discounts. Total number of sales was down across all districts compared to last year, however, pricing held steady. The average sales price was up 1.5% to $1.36M YoY with the PPSF down 4.7% to $1,163/SF.
Market performance for blended (new and resale combined) condo sales
Blended average sales price
$1,361,175 🔼 1.5% y-o-y
Blended average price per square foot
$1,163 🔼 -4.7% y-o-y
Number of sales
411 🔽 -33.9% y-o-y