Living415

Sold: 1862 Ellis Street #A

Sold for $701,000

Buyer Represented
Property Type: Single Family Home

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1516 Waller Street

Sold for $1,425,000

Buyer Represented
Property Type: Condo

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San Francisco, Mission, $3,798,000, 4 BR/4 Bath [Upcoming MLS]

Don’t miss our Easter Bunny hosted egg hunt for kids (with mimosas for the adults) at 1:00pm sharp on April 16 at 220 San Jose Avenue!

220 San Jose is an amazing Italianate mansion on the tree-lined, quiet block of San Jose (@ 24th) with an amazing backyard that the EB himself will showcase to perfection.

You are invited to enjoy this celebration of spring whether you are looking for a home or not. I would love to see you.

Prepared to the 9s and ready for 21st Century buyers, 220 San Jose is an elegant home that boasts 4/5 bedrooms and 4 full baths on a oversized lot. The walk out garden is huge and stunningly landscaped.

Photos and 3D tour will be on all channels Friday 4/14. MansionInTheMission.com

Hope to see you there!
 
Best,
 
Jennifer

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Sold: 41 Scott Street

Sold for $1,627,000

Buyer Represented
Property Type: Single Family Home

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San Francisco Real Estate Market Update – April 2017

Looking at San Francisco’s March sales data, we continue to see median sales prices and percent of list price received that are slightly lower than 2016’s. Inventory remains exceptionally low and it continues to be a sellers market.

The San Francisco economy remains very robust, but more mixed, as evidenced by a cooling in the commercial real estate leasing market, where rents dipped in 2016 and the sub-leasing market was very strong with a number of companies reducing their footprint. Also, in the tech sector, industry job reductions increased by 21% in 2016. Tech is driving the real estate market in San Francisco, so that’s the bell-weather industry to watch.

On the following charts we see that the San Francisco single family home market dipped negligibly in median sales price, down 0.2% year-on-year to $1,350,000. The number of sales rose 3.9% but the number of new listings dropped sharply for the second month in a row, 18.7% fewer than last March. This resulted in a 33% drop in inventory compared to last year, just 1.6 months of supply.

As buyers got slightly more conservative, they lowered their bids on single family homes a little compared to last year, coming in at 108.8% versus 2016’s 111.2%. Condo buyers dropped their overbids slightly as well, 102.3% of list price versus 103.3% last March.

Like the single family homes sector, the condo market also was hit with a sharp decline in new listings, down 25.8% compared to last year. Sales were up by 8.2%, so the combination of two low months of new listings combined with more sales left inventory down 18.5% from last March, at only 2.2 months of supply,. Condo median sales prices are up 4.1% year-on-year to $1,140,000.

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Sold: 220 San Jose Avenue

Sold for $3,788,000

Seller Represented
Property Type: Single Family Home

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Sold: 141 Albion Street

Sold for $2,200,000

Buyer Represented
Property Type: Single Family Home

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San Francisco Luxury Real Estate Market Update March 2017

The San Francisco luxury real estate market (defined as single family homes priced at $2,500,000 and above, and condominiums priced at $2,000,000 and above) remains a sellers market, although the supply of luxury condominiums has increased almost to the point of being considered a balanced market between buyers and sellers.

That said, the real story with condominiums is that there are almost 12 months of inventory in District 9. Of the 79 luxury condominiums currently on the market, 41 of them are in District 9. District 8 has a balanced market, with 19 active listings. The other districts have limited inventory and remain a sellers market.

Not surprisingly, then, sales prices remained strong in the luxury homes market, with the median sold price at 107% of list price. Not so for condominiums, where it fell to 96% of list price.

As in the non-luxury market, new listings were down sharply for both luxury homes and luxury condominiums, with homes down 49% compared to February 2016 and condominiums down 17%. The number of sales were unchanged for homes and down 13% for condominiums.

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