Archive for June 2015 | Monthly archive page

1000 Ways to Enjoy San Francisco & the Bay Area This Summer

Guests are coming, the kids are out of school, or you just want to do something different than usual. Summer has arrived in one of the most beautiful and multi-dimensional places on earth, and here is a wide variety of ideas for making the most of it.

Dinner, brunch, burritos, burgers, bars, music, dance, theater, running, biking, hiking, and things to do with visitors, children and dogs.

Food & Drink

Top 100 Restaurants

Zagat’s Best

Outdoor Dining & Drinking

Best Meal Delivery

Best Breakfast

Best Brunch

Best Burritos

Best Sandwiches

Best Pizza

Best Hamburgers

Best Dim Sum

Best Bars

Beer Drinking

Coffee Drinking

More Coffee

Best Desserts!

Out & About

Things to Do

To Do with Kids

To Do in Oakland

To Do in Marin

In Napa & Sonoma
City Biking

Mountain Biking

City Walks

Best Views

Hiking Trails

Running Clubs

LGBT – To Do

Sunday Streets

City Parks

Dog Parks

Farmers’ Markets

Sports Teams

Sports Calendar

Arts & Culture

Arts & Entertainment

More Arts Events

Nightclubs

Music

Museums

Ballet

Opera

Symphony

Theater

Important note: You will undoubtedly find yourself disagreeing vehemently with one or more of the above “best lists” – best burrito, brunch and coffee are particularly contentious issues in the Bay Area. Our position is clear: We agree wholeheartedly with you and share your dismay. Still, despite these egregious errors in taste, we hope you and yours are able to enjoy a summer delightful in every way.

Another Challenging Spring for Buyers; Sellers Rejoice as Home Prices Hit New Highs

Escalating Home Prices; Fierce Overbidding; Luxury Home Sales;
Interest Rates; Employment Trends; Biggest Home Sales of 2015 YTD

June 2015 San Francisco Real Estate Report
by Paragon Real Estate Group

4 Angles on San Francisco Home Price Appreciation

Short-Term Trend Line: Since the Recovery Began in 2012

1

Longer-Term Trends: 1993 – 2015

2

Neighborhood Appreciation Snapshots
May 2011 – May 2015

Central Sunset, Central Richmond & Noe Valley:
Median House Sales Prices

3

SoMa, Eureka Valley & Marina:
2-Bedroom Condo Median Sales Prices

4

Link to San Francisco Neighborhood Map

Luxury Home Sales by District

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High-end home sales and prices in the city have been increasing rapidly, with interesting shifts occurring between older high-prestige neighborhoods like Pacific Heights and Russian Hill, and areas such as Noe Valley and South Beach, where surging sales of very expensive homes are a more recent phenomenon.Part of this shift is being fueled by the explosion of younger, high-tech wealth; another part is the recent construction boom of high-rise, ultra-luxury condo buildings south of Market Street.

There is an enormous variety in high-end real estate in San Francisco, from mansions to penthouses, Victorians to new, ultra-high-tech construction, as can be glimpsed in the list of sales at the end of this report. One of the more common amenities is spectacular views.

Home Sales by Price Segment, 2015 YTD

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Four years ago, one found the most homes for sale in the $600,000 to $750,000 price segment. Now $1 million to $1.5 million is the “sweet spot” for San Francisco home prices.

Overbidding List Prices

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When the average SF home sale is selling for 10% over the original asking price, the market is characterized by fiercely competitive buyer bidding wars. Another indicator: Almost 93% of home sales in May sold without going through any price reductions, an astonishingly high percentage.

These charts above and below, along with the one at the top of this newsletter delineating quarterly median price movements, also illustrate the seasonal nature of real estate sales. For 4 years running, the hottest, most competitive markets have been during the spring selling season. The market often cools down during the summer.

9

Economic Indicators

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Two of the biggest factors affecting the San Francisco real estate market are extremely low interest rates, which have a large impact on the ongoing cost of homeownership, and surging, well-paid employment. According to Ted Egan, San Francisco’s Chief Economist, high-tech jobs alone jumped by 18% in the 12 months through March 2015, and as of April, the city’s unemployment rate, at 3.4%, was the lowest since the height of the dotcom boom.

Interest rates are almost 40% below those in 2006 – 2007. With home prices having increased so much recently, future interest rate changes will be something to watch carefully for their impact on affordability. Rates have been inching up recently and just hit 4% for the first time in 2015, but they are still very low by any historical measure.

Highest Home Sales by Neighborhood, 2015 YTD

This is a sampling of highest sales prices achieved in selected San Francisco neighborhoods in 2015 YTD, as reported to MLS. Note that this is not a comprehensive list of the city’s highest priced home sales.

$31,000,000. Pacific Heights: 7-bedroom, 16,400 sq.ft. mansion on Broadway, $1890/sq.ft.

$11,000,000. Sea Cliff: 5-bedroom, 3600 sq.ft., ocean-front house on Sea Cliff Ave., $3068/sq.ft.

$9,250,000. Pacific Heights: 2-bedroom, 3500 sq.ft., 1927 co-op on Alta Plaza Park, $2643/sq.ft.

$9,100,000. Russian Hill: 2-bedroom, 3300 sq.ft. co-op at Royal Towers, $2742/sq.ft.

$7,000,000. Noe Valley: 5-bedroom, 1907, 4450 sq.ft. house on Elizabeth Street, $1571/sq.ft.

$6,500,000. Alamo Square: 6-bedroom, 1902, 7800 sq.ft. mansion on Fulton, $833/sq.ft.

$6,285,000. St. Francis Wood: 5-bedroom, 6700 sq.ft. mansion on half-acre lot on San Anselmo Ave., $938/sq.ft.

$5,600,000. Dolores Heights: 4-bedroom, new construction house on Noe Street

$5,500,000. Nob Hill: 3-bedroom, 2721 sq.ft. TIC at Park Lane, $2021/sq.ft.

$5,475,000. SoMa: 3-bedroom condo at Four Seasons

$4,995,000. South Beach: 3-bedroom penthouse condo on South Park

$4,200,000. Glen Park: 4-bedroom, new construction, 3400 sq.ft. house on Laidley, $1235/sq.ft.

$4,000,000. Yerba Buena: 2-bedroom, 1952 sq.ft. condo at Millennium, $2049/sq.ft.

$3,900,000. Lake Street: 3-bedroom, 2952 sq.ft., 1914 Edwardian, $1321/sq.ft.

$3,850,000. Golden Gate Heights: 5-bedroom, 4062 sq.ft. 1974 house on Pacheco, $948/sq.ft.

$3,150,000. Bernal Heights: 4-bedroom, 2293 sq.ft., 2011 house on Folsom, $1374/sq.ft.

$3,100,000. Inner Mission: 3-bedroom, 2800 sq.ft. house on Shotwell, $1107/sq.ft.

$3,000,000. Inner Richmond: 3-bedroom, 4225 sq.ft. 1912 Edwardian on 10th Ave., $710/sq.ft.

$2,885,000. Inner Sunset: 3-bedrrom, 2640 sq.ft. 1904 Edwardian on 6th Ave., $1081/sq.ft.

$2,715,000. Hayes Valley: 4-bedroom, 3808 sq.ft. TIC on Waller, $713/sq.ft.

$2,510,000. Forest Hill: 5-bedroom, 3300 sq.ft., 1926 house on Taraval, $761/sq.ft.

$2,400,000. Potrero Hill: 3-bedroom, 2434 sq.ft., 1908 Edwardian on Kansas, $986/sq.ft.

$1,900,000. Sunnyside: 4-bedroom, 2715 sq.ft., 2003 house on Mangels, $700/sq.ft.

$1,280,000. Portola: 5-bedroom, 3128 sq.ft. new construction house on Madison, $409/sq.ft.

$900,500. Bayview: 4-bedroom, 1626 sq.ft., 1996 house on Armstrong, $554/sq.ft.