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New Construction Costs Over $1,000 Per Square Foot in S.F.

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We all knew that San Francisco's real estate market was a bad scene for buyers last year. But just how much did things change in 12 months? The Mark Company reports that the average price per square foot for new construction condominiums went up 18% in the last year to $1,034, while new construction inventory dropped by a whopping 78%. Resale condos have it even worse, with the price per square foot increasing 26% in the last year to $886. The number of resale condos currently on the market represents just over half-a-month of inventory.
· The Mark Company Trend Sheet [The Mark Company]