San Francisco condo prices continue to show substantial year-on-year price increases, with February seeing a 15% rise over prices from the same month in 2013. The condo rush was apparent throughout the month in both new and resale condo listings, as the Marlow nearly sold out and a plethora of 1-BR condos were on the market for more than $1 million. Prices per square foot were down just a tick from January according to the February Mark Company Trend Sheet, which compiled the most recent figures, but with inventory tight and the busy season about to kick off, expect even higher prices soon.
New construction inventory was 82 percent lower this February than it was last February, with only 39 units available. Most of those were at Nob Hill's ultra-luxury Park Lane and priced $2.995 million or higher. There were only 215 active listings, or about one month worth of inventory. This means that San Francisco, not surprisingly, has an extremely low supply of condos available right now.
· Marlow Reveals Its Facade, Nearly Sells Out In Nob Hill [Curbed SF]
· Mapping the Crazy World of $1M+ One Bedroom Condo Sales [Curbed SF]
· February Trend Sheet [The Mark Company]
· Park Lane Coverage [Curbed SF]