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All data within this document is pulled from the San Francisco MLS. San Francisco Market Update Fourth Quarter 2015 SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700 sothebyshomes.com San Francisco, CA | web: 0087687
18

San Francisco Market Update | Q4 2015

Jul 25, 2016

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Page 1: San Francisco Market Update | Q4 2015

All data within this document is pulled from the San Francisco MLS.

San Francisco Market UpdateFourth Quarter 2015

SAN FRANCISCO BROKERAGE

117 Greenwich Street

San Francisco, CA 94111

t. 415.901.1700

sothebyshomes.com

San Francisco, CA | web: 0087687

Page 2: San Francisco Market Update | Q4 2015

Source: SFARMLS - October 1-December 31 each year.

2011 2012 2013 2014 2015

SAN FRANCISCO (TOTAL) 665 736 679 654 619

DISTRICT 1 48 62 57 61 42

DISTRICT 4 84 110 92 94 104

DISTRICT 5 92 107 92 93 81

DISTRICT 6 7 19 13 15 10

DISTRICTS 7 AND 8 38 57 45 43 31

DISTRICT 9 58 51 69 66 73

A MESSAGE FROM: JEFFREY G. GIBSONSenior Vice President and Brokerage ManagerAs 2015 came to a close, the San Francisco real estate market continued to follow the same themes as the rest of year in the fourth quarter of 2015, according to the San Francisco Multiple Listing Service. The first three quarters of 2015 were marked by a dwindling inventory and a rise in average sales price. That trend marched on throughout the city in Q4 2015, as demand continued to far outpace supply.

Five years ago, the average price-per-square-foot for a SF single-family home in Q4 2011 was $488. Compare that to Q4 2015, where the average has almost doubled at $828 per-square-foot. The average price-per-square-foot for a SF condominium has also grown significantly, with the average at $591 per-square-foot in Q4 2011 to $1,006 per-square-foot in Q4 2015.

When comparing the average sales price year over year, prices again soared, according to the San Francisco Multiple Listing Service. Condominiums saw the average sales price grow 11 percent, from $1,110,360 in Q4 2014 to $1,232,400 in Q4 2015. The average sales price for a single-family home also climbed from $1,534,800 in Q4 2014 to $1,619,900 in Q4 2015, a 5.5 percent increase. Inventory was sparse throughout the City, causing the total sales of single-family homes and condominiums to fall from the prior year. A total of 619 single-family homes were sold in Q4 2015, a 5.4 percent decrease from the 654 units sold in Q4 2014. The total sales of condominiums also decreased 2.3 percent, falling from 742 units sold in Q4 2014 to 725 units sold in Q4 2015.

Q4 TOTAL CLOSED SALES (SINGLE FAMILY HOMES)

Q4 TOTAL CLOSED SALES (CONDOS)

Jeffrey G. Gibson

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

2011 2012 2013 2014 2015

SAN FRANCISCO (TOTAL) 593 796 839 742 725

DISTRICT 1 33 40 35 38 46

DISTRICT 4 8 15 14 15 10

DISTRICT 5 102 131 121 100 118

DISTRICT 6 59 84 100 84 71

DISTRICTS 7 AND 8 183 222 226 211 187

DISTRICT 9 182 265 299 259 250

Source: SFARMLS - October 1-December 31 each year.

SAN FRANCISCO BROKERAGE 117 Greenwich StreetSan Francisco, CA 94111 t. 415.901.1700sothebyshomes.com/sanfrancisco

0

100

200

300

400

500

600

700

800

900

2011 2012 2013 2014 2015

560

580

600

620

640

660

680

700

720

740

760

2011 2012 2013 2014 2015

Page 3: San Francisco Market Update | Q4 2015

PRESIDIO HEIGHTSWeb ID: 0087485 | $12,000,000

Spectacular, contemporary, renovated home.

5 bedrooms, 4 full baths, 2 half baths.

101Maple.com

Jon Taylor, Gloria Smith | 415.722.2812

NOE VALLEYWeb ID: 0087581 | Price Upon Request

Historic firehouse converted into stunning

residence. 4bd, 3 full, 2 half ba, 2 car garage.

NoeFirehouse44.com

Carrie B. Goodman | 415.624.4166

LAKEWeb ID: 0087556 | $3,195,000

Architecturally significant 2-story Mid-Century.

3bd/3ba, Golden Gate Bridge views, garden,

garage. 301ElCamino.com

Caroline Kahn Werboff | 415.296.2210

FEATURED PROPERTIES

Page 4: San Francisco Market Update | Q4 2015

4

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

ABOUT DISTRICT 1Also known as the Richmond District, District 1 is nestled on

the Northwest corner of San Francisco. Home to many distinct

neighborhoods, including Jordan Park, Lake, Laurel Heights, Outer

Richmond, Central Richmond, Inner Richmond, and Sea Cliff, the

district borders both the Golden Gate Park and the Pacific Ocean. In

District 1, residents and visitors alike can enjoy some fun in the park,

or sit back and gaze upon the vast ocean.

SINGLE FAMILY HOMES | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $1,261,479 $1,502,994 $1,479,163 $1,642,729 $1,584,155 -3.6%

AVERAGE SOLD PRICE $1,251,753 $1,557,809 $1,591,397 $1,805,031 $1,732,857 -4.0%

AVERAGE DAYS ON MARKET 52 42 33 29 28 -3.9%

TOTAL SINGLE FAMILY HOMES SOLD 48 62 57 61 42 -31.1%

DISTRICT 1

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

2011 2012 2013 2014 2015

San Francisco District 1

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 1

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 1

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 1

Page 5: San Francisco Market Update | Q4 2015

5

CONDOMINIUM SALES

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

Q4 MARKET OVERVIEW

Like the rest of San Francisco, total sales of single family homes were down in District 1, falling 31.1 percent from Q4

2014 to Q4 2015. Buyers in the District continued to close deals sooner rather than later, as a single family home

stayed on the market an average of 28 days in Q4 2015. Despite a low supply in the district, the average sales price fell

4 percent in Q4 2015, going from $1,805,031 in Q4 2014 to $1,732,857 in Q4 2015, one of the few areas in the City to

see prices drop. The sales figures for condominiums in District 1 also bucked citywide trends. Like single family homes

in the area, the average sales price for a condominium decreased 8.6 percent, falling from $1,181,224 in Q4 2014 to

$1,080,076 in Q4 2015. While the rest of the city mostly experienced dips in total sales, District 1 saw a 21.1 percent

increase in condominiums sold, up from 38 units sold in Q4 2014 to 46 units sold in Q4 2015.

CONDOMINIUMS | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $693,570 $792,410 $887,770 $1,132,711 $1,028,696 -9.2%

AVERAGE SOLD PRICE $677,530 $823,267 $910,916 $1,181,224 $1,080,076 -8.6%

AVERAGE DAYS ON MARKET 80 55 41 37 35 -4.3%

TOTAL CONDOS SOLD 33 40 35 38 46 21.1%

DISTRICT 1

0

10

20

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

San Francisco District 1

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 1

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 1

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 1

Page 6: San Francisco Market Update | Q4 2015

6

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

ABOUT DISTRICT 4 District 4, also referred to as West of Twin Peaks is located in a

heavily wooded and picturesque area of San Francisco. District 4

encompasses 16 neighborhoods: Balboa Terrace, Diamond Heights,

Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace,

Midtown Terrace, Miraloma Park, Monterey Heights, Mount Davidson

Manor, Sherwood Forest, St. Francis Wood, Sunnyside, West Portal,

Westwood Highlands and Westwood Park.

DISTRICT 4

SINGLE FAMILY HOMES | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $870,248 $1,049,765 $1,122,029 $1,225,321 $1,427,792 16.5%

AVERAGE SOLD PRICE $877,021 $1,081,658 $1,195,500 $1,374,731 $1,587,561 15.5%

AVERAGE DAYS ON MARKET 58 47 37 24 24 0%

TOTAL SINGLE FAMILY HOMES SOLD 84 110 92 94 104 10.6%

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015

San Francisco District 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015

San Francisco District 4

Page 7: San Francisco Market Update | Q4 2015

7

CONDOMINIUM SALES

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

Q4 MARKET OVERVIEW

For single family homes in District 4, almost everything was on the rise in Q4 2015. After total sales of single family

homes fell to 92 units sold in Q4 2013, the total began to climb, from 94 units sold in Q4 2014 to 104 units sold in Q4

2015—one of the few districts in San Francisco to see an increase in sales in Q4 2015. The average sales price for

a single family home followed suit, going up 15.5 percent, from $1,374,731 in Q4 2014 to $1,587,561 in Q4 2015. By

contrast, condominiums in District 4 tended to fall in line with the rest of the city, with lower total sales and an increase

in average sales price. Total sales of condominiums in the District fell 33.3 percent, from 15 units sold in Q4 2014 to 10

units sold in Q4 2015. The average sales price for condominiums grew from $593,997 in Q4 2014 to $706,754 in Q4

2015, a 19 percent increase.

CONDOMINIUMS | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $393,000 $461,427 $468,060 $540,297 $668,800 23.8%

AVERAGE SOLD PRICE $393,875 $475,367 $482,596 $593,997 $706,754 19.0%

AVERAGE DAYS ON MARKET 62 76 53 35 28 -18.5%

TOTAL CONDOS SOLD 8 15 14 15 10 -33.3%

DISTRICT 4

0

10

20

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

San Francisco District 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015

San Francisco District 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015

San Francisco District 4

Page 8: San Francisco Market Update | Q4 2015

8

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICT 5

ABOUT DISTRICT 5 District 5, commonly known as the Central District, is in the

geographic center of San Francisco. The sunny region, with its charm

and vitality, is popular with both tourists and residents. The district

is home to the neighborhoods of Ashbury Heights, Buena Vista Park,

Clarendon Heights, Corona Heights, Cole Valley, Castro, Dolores

Heights, Duboce Triangle, Glen Park, Haight Ashbury, Noe Valley, Twin

Peaks and Mission Dolores.

SINGLE FAMILY HOMES | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $1,382,486 $1,469,944 $1,761,042 $1,945,438 $2,072,037 6.5%

AVERAGE SOLD PRICE $1,383,789 $1,547,670 $1,864,321 $2,135,397 $2,268,185 6.2%

AVERAGE DAYS ON MARKET 57 36 33 26 25 -4.6%

TOTAL SINGLE FAMILY HOMES SOLD 92 107 92 93 81 -12.9%

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 5

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2011 2012 2013 2014 2015

San Francisco District 5

0

10

20

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

San Francisco District 5

0

10

20

30

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2011 2012 2013 2014 2015

San Francisco District 5

Page 9: San Francisco Market Update | Q4 2015

9

CONDOMINIUM SALES

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICT 5

Q4 MARKET OVERVIEW

The average sales price for a single family home and a condominium in District 5 continued to ascend in Q4 2015. A

condominium sold at an average of $1,248,103 in Q4 2015, a 9.6 percent increase from Q4 2014. The average sales

price for a single family home also experienced growth, up 6.2 percent from $2,135,397 in Q4 2014 to $2,268,185 in

Q4 2015. While prices climbed in the district, total sales of single family homes and condominiums went off in different

directions in Q4 2015. Following the citywide trend, total sales of single family homes fell to 81 units, a 12.9 decrease

compared year over year, and one of the lowest totals seen in the last few years of Q4. However, after falling to 100 total

units sold in Q4 2014, total sales of condominiums rebounded 18 percent in Q4 2015, with 118 units sold.

CONDOMINIUMS | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $768,415 $803,437 $976,641 $1,043,960 $1,121,958 7.5%

AVERAGE SOLD PRICE $764,314 $851,196 $1,071,095 $1,139,201 $1,248,103 9.6%

AVERAGE DAYS ON MARKET 77 48 37 35 31 -12.1%

TOTAL CONDOS SOLD 102 131 121 100 118 18.0%

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 5

0

10

20

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

San Francisco District 5

0

10

20

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2011 2012 2013 2014 2015

San Francisco District 5

Page 10: San Francisco Market Update | Q4 2015

10

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICT 6

ABOUT DISTRICT 6 District 6, also referred to as the Central North, is a vibrant area with

easy access to public transportation, trendy boutiques, excellent

restaurants and gorgeous City views. The neighborhoods that

encompass District 6 include Alamo Square, Hayes Valley, Western

Addition, Lower Pacific Heights, Anza Vista and North Panhandle

(NoPa). Homes vary from stunning mansions and Victorian houses to

quaint single family homes and chic condominiums.

SINGLE FAMILY HOMES | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $1,703,857 $1,652,211 $1,755,923 $2,345,400 $2,466,800 5.2%

AVERAGE SOLD PRICE $1,704,057 $1,698,895 $1,888,385 $2,430,867 $2,699,000 11.0%

AVERAGE DAYS ON MARKET 66 36 26 27 31 17.4%

TOTAL SINGLE FAMILY HOMES SOLD 7 19 13 15 10 -33.3%

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2011 2012 2013 2014 2015

San Francisco District 6

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 6

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 6

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 6

Page 11: San Francisco Market Update | Q4 2015

11

CONDOMINIUM SALES

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICT 6

Q4 MARKET OVERVIEW

Much like the rest of the city, average sales prices were up and total sales were down in District 6. The average

sales price for a single family home rose 11 percent, moving up from $2,430,867 in Q4 2014 to $2,699,000 in Q4

2015. Condominiums saw even greater growth, with the average sales price jumping from $1,008,712 in Q4 2014 to

$1,219,372 in Q4 2015, a 20.9 percent increase and one of the largest increases in average sales price in the city. Low

inventory throughout the district may have contributed to increased prices. A total of 10 single family homes were sold

in Q4 2015, a 33.3 percent drop from the 15 units sold in Q4 2014. Total sales of condominiums were also down 15.5

percent, from 84 units sold in Q4 2014 to 71 in Q4 2015.

CONDOMINIUMS | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $648,249 $690,084 $782,040 $915,557 $1,116,934 22.0%

AVERAGE SOLD PRICE $649,085 $718,443 $831,735 $1,008,712 $1,219,372 20.9%

AVERAGE DAYS ON MARKET 69 64 29 49 35 -29.2%

TOTAL CONDOS SOLD 59 84 100 84 71 -15.5%

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 6

0

10

20

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

San Francisco District 6

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 6

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 6

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2011 2012 2013 2014 2015

San Francisco District 6

Page 12: San Francisco Market Update | Q4 2015

12

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICTS 7 and 8

ABOUT DISTRICTS 7 and 8 Districts 7 and 8 host some of the most impressive homes in the

city. District 7 includes Cow Hollow, the Marina, Pacific Heights and

Presidio Heights neighborhoods. The Golden Gate Bridge and the San

Francisco Bay are to the north and downtown is to the east, making

it ideal for both work and recreation. District 8 includes the business

and financial center of San Francisco and serves as a popular tourist

destination. Residential neighborhoods include North Beach, Russian

Hill, Nob Hill, Telegraph Hill and North Waterfront.

SINGLE FAMILY HOMES | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $3,978,059 $4,456,228 $4,285,031 $4,308,093 $5,451,581 26.5%

AVERAGE SOLD PRICE $3,777,430 $4,332,079 $4,316,067 $4,429,488 $5,428,448 22.6%

AVERAGE DAYS ON MARKET 59 53 45 39 38 -2.8%

TOTAL SINGLE FAMILY HOMES SOLD 38 57 45 43 31 -27.9%

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

0

10

20

30

40

50

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70

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100

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

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2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

Page 13: San Francisco Market Update | Q4 2015

13

CONDOMINIUM SALES

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICTS 7 and 8

Q4 MARKET OVERVIEW

Districts 7 and 8 made a strong case that a shortage of inventory drove prices up in San Francisco in Q4 2015. This

was especially evident for single family homes in the area which saw one of the largest declines in total sales and one

of the biggest gains in average sales price. Total sales in the district had dropped 27.9 percent, from 43 units sold in Q4

2014 to 31 units sold in Q4 2015. The limited number of sales pushed the average sales price for a single family home

up from $4,429,488 in Q4 2014 to $5,428,448 in Q4 2015, a 22.6 percent increase. Condominiums in the area also saw

a drop in total sales and an increase in average sales price. Total sales of condominiums fell 11.4 percent in Q4 2015,

from 211 units sold in Q4 2014 to 187 units sold in Q4 2015. The average sales price for a condominium went up from

$1,333,006 in Q4 2014 to $1,413,381 in Q4 2015.

CONDOMINIUMS | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $880,693 $1,109,972 $1,183,534 $1,277,180 $1,350,666 5.8%

AVERAGE SOLD PRICE $859,102 $1,110,151 $1,210,598 $1,333,006 $1,413,381 6.0%

AVERAGE DAYS ON MARKET 90 56 44 42 32 -22.8%

TOTAL CONDOS SOLD 183 222 226 211 187 -11.4%

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

0

10

20

30

40

50

60

70

80

90

100

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

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10

20

30

40

50

60

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80

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100

2011 2012 2013 2014 2015

San Francisco Districts 7 & 8

Page 14: San Francisco Market Update | Q4 2015

14

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICT 9

ABOUT DISTRICT 9 District 9, the central-eastern portion of San Francisco includes the

neighborhoods Bernal Heights, the Central Waterfront/Dogpatch,

Inner Mission, Mission Bay, Potrero Hill, South Beach and South of

Market (SoMa). The area includes some of the oldest homes in San

Francisco, having escaped the 1906 earthquake and fire destruction.

District 9’s real estate includes cottages, bungalows and single-family

homes in Bernal Heights and Potrero Hill, and warehouse-converted

lofts and condominiums in SoMa, South Beach and Yerba Buena.

SINGLE FAMILY HOMES | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $727,643 $875,138 $1,120,636 $1,173,252 $1,299,411 10.8%

AVERAGE SOLD PRICE $756,364 $934,608 $1,265,595 $1,331,576 $1,450,050 8.9%

AVERAGE DAYS ON MARKET 52 41 27 26 24 -8.7%

TOTAL SINGLE FAMILY HOMES SOLD 58 51 69 66 73 10.6%

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

San Francisco District 9

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2011 2012 2013 2014 2015

San Francisco District 9

0

10

20

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

San Francisco District 9

0

10

20

30

40

50

60

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90

2011 2012 2013 2014 2015

San Francisco District 9

Page 15: San Francisco Market Update | Q4 2015

15

CONDOMINIUM SALES

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

DISTRICT 9

Q4 MARKET OVERVIEW

District 9 was one of the few areas in San Francisco that saw total sales of a single family home go up. A total of 73

homes were sold in Q4 2015, a 10.6 percent increase over Q4 2014. The increase in closed units did not affect buyer

demand, as the average sales price also grew 8.9 percent, from $1,331,576 in Q4 2014 to $1,450,050 in Q4 2015.

Buyers also quickly closed deals, as a single family home stayed on the market an average of 24 days in Q4 2015.

Despite total sales slightly falling in Q4 2015, condominiums were still in high demand in District 9. Total sales of

condominiums decreased 3.5 percent in Q4 2015, with the area closing 259 units in Q4 2014 to 250 units in Q4 2015.

Buyers drove the average sales price up to $1,209,170, a 16.4 percent increase over Q4 2014.

CONDOMINIUMS | Q4 2011 2012 2013 2014 2015 % Change(2015 v 2014)

AVERAGE LIST PRICE $879,026 $907,292 $957,431 $1,009,800 $1,167,707 15.6%

AVERAGE SOLD PRICE $820,527 $908,471 $983,846 $1,038,658 $1,209,170 16.4%

AVERAGE DAYS ON MARKET 77 53 39 37 36 -4.6%

TOTAL CONDOS SOLD 182 265 299 259 250 -3.5%

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Page 16: San Francisco Market Update | Q4 2015

SIGNIFICANT SALES | Q4 2015

PACIFIC HEIGHTS | Web: 0087395 | $9,000,000 | Seller RepresentedSan Francisco Brokerage | Caroline Kahn-Werboff 415.296.2210

COW HOLLOW | Web: 0087385 | $9,000,000 | Seller RepresentedSan Francisco Brokerage | Janet Feinberg Schindler 415.265.5994

MARINA | Web: 0081777 | $7,100,000 | Buyer RepresentedSan Francisco Brokerage | Rebecca Schumacher 415.928.3800

COW HOLLOW | Web: 0081734 | $6,995,000 | Buyer RepresentedSan Francisco Brokerage | Carrie B. Goodman 415.624.4166

COW HOLLOW | Web: 0087641 | $5,150,000 | Seller RepresentedSan Francisco Brokerage | Neill Bassi 415.412.3089

PACIFIC HEIGHTS | Web: 0081635 | $12,500,000 | Buyer RepresentedSan Francisco Brokerage | Ludovico Mazzola 415.296.2213

Page 17: San Francisco Market Update | Q4 2015

AUCTION CALENDAR FEB | MAR | APR | MAY 2016

RM Sotheby’s: ParisParis 03 Feb

Impressionist & Modern Art Evening SaleLondon 03 Feb

Contemporary Art Evening AuctionLondon 10 Feb

Finest & Rarest WinesNew York 27 Feb

WatchesLondon 08 Mar

Important Ceramics by Pablo PicassoLondon 05 Ap

20th Century Art / Middle EastLondon 18 Apr

Orfèvrerie, Boîtes en Or et Objets de VitrineParis 04 May

Paul Gauguin | Nature morte aux mangos et à la fleur d’hibiscusEstimate £2-3m

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

Page 18: San Francisco Market Update | Q4 2015

left to right from top to bottom:

METROPOLITAN MARKETS

NEW YORK, NY | Web: 00110466 | $5,200,000

SAN FRANCISCO, CA | Web: 0087635 | $5,500,000

HOUSTON, TX | Web: 1250301 | $5,499,000

RESORT MARKETS

PEBBLE BEACH, CA | Web: 0474307 | $5,895,000

PALM BEACH, FL | Web: 0076834 | $5,995,000

MONTECITO, CA | Web: 0632357 | $5,495,000

FOREIGN MARKETS

SPAIN | Web: NF2L59 | $5,584,178

FRANCE | Web: 5Q5HYV | $5,431,240

ISRAEL | Web: 9ZWTEE | $5,657,127

sothebysrealty.com

ON THE MARKET