Bay Area Employment Held Last Month, But…

Bay Area Employment Held Last Month, But…

Having been downwardly revised by the State at the start of the year, the estimated number of people living in San Francisco with a paycheck inched up by 1,100 in February to 574,100, which was 7,400 more employed residents than at the same time last year, with an unemployment... Read More »

Price Reductions, and Increases, on the Rise in San Francisco

With new listing activity and inventory levels having plummeted, and the pace of home sales having sharply dropped, the percentage of homes on the market in San Francisco with at least one official price cut – which doesn’t include properties that were withdrawn from the MLS and then re-listed... Read More »

Benchmark Mortgage Rate Drops, Short-Term Rate Jumps

Benchmark Mortgage Rate Drops, Short-Term Rate Jumps

Having spiked last week, the average rate for a benchmark 30-year mortgage has since shed 15 basis points for an average rate of 3.50 percent, which is 56 basis points (0.56 percent) below its mark at the same time last year, according to Freddie Mac’s latest Mortgage Market Survey... Read More »

Prominent Penthouse Fetches at $4.85 Million Price

Prominent Penthouse Fetches at $4.85 Million Price

As we outlined last month: The signature penthouse unit atop the historic Clock Tower Lofts Building at 461 2nd Street hit the market in the second quarter of 2016 with a bit of fanfare and an $8.5 million price tag. Positioned as the “ultimate San Francisco trophy property,” the... Read More »

Pace of New Home Sales in the U.S. Dropped Last Month

While trending up at the beginning of the year, the pace of new single-family home sales in the U.S. dropped 4.4 percent in February, prior to the impact of COVID-19 having taken hold, to a seasonally adjusted annual rate of 765,000 sales but remained 14.3 percent higher than at... Read More »

Co-Living Portfolio on the Market in San Francisco

Co-Living Portfolio on the Market in San Francisco

A portfolio of five “trophy” buildings which have been remodeled and reconfigured by Starcity to yield 72 individually rentable rooms, with shared kitchens and living spaces for the residents, are on the market in San Francisco. According to the offering memorandum, which was prepared prior to the impact of... Read More »

Number of Homes on the Market in SF Plummets 40 Percent

Having dropped 20 percent in the first few days following San Francisco’s stay at home order having been issued, the number of homes on the market in San Francisco has now dropped 40 percent from the 9-year high it briefly hit last week. The sharp reduction in inventory levels... Read More »

High-End Loft Just Fetched a Mid-2015 Price, But…

High-End Loft Just Fetched a Mid-2015 Price, But…

As we outlined back in January, just two months ago: Purchased for $1.85 million in mid-2015, the remodeled two-bedroom, 1,565-square-foot unit #216 in the Oriental Warehouse building at 650 Delancey Street (“the premier historic live/work loft conversion building located in San Francisco’s hip South Beach neighborhood”) returned to the... Read More »

Pace of Existing-Home Sales in the U.S. Was on the Rise

Pace of Existing-Home Sales in the U.S. Was on the Rise

Having slipped 1.3 percent in January, the seasonally adjusted pace of existing-home sales across the U.S. jumped 6.5 percent in February to an annual rate of 5.77 million sales, according to the National Association of Realtors. And as such, the pace of sales was running 7.2 percent higher on... Read More »

Statewide, More Restrictive, Stay-at-Home Order Issued for CA

“The California State Public Health Officer and Director of the California Department of Public Health is ordering all individuals living in the State of California to stay home or at their place of residence except as needed to maintain continuity of operation of the federal critical infrastructure sectors. Everyone... Read More »