A Luxe Two-Bedroom with Views Trades for $232K Less

A Luxe Two-Bedroom with Views Trades for $232K Less

Purchased for $2,132,111 in December of 2017, the “luxe” two-bedroom, two-bath unit #25A in the Lumina tower at 201 Folsom Street, with “wrap-around floor-to-ceiling windows” and “awe-inspiring panoramic views,” returned to the market priced $2.5 million in August of 2018. Re-listed for $2,488,000 early last year, around the time... Read More »

Rents in San Francisco Drop Even More, But…

Rents in San Francisco Drop Even More, But…

Having slipped to just under $3,600 last month, the weighted average asking rent for an apartment in San Francisco has since dropped another 5 percent to $3,425, which is now down 20 percent on a year-over-year basis and 23 percent below a 2015-era peak, driven by a sharp increase... Read More »

Bay Area Employment Still Down by 400K, Labor Force Dropping

Bay Area Employment Still Down by 400K, Labor Force Dropping

While the estimated number of people living in San Francisco with a paycheck increased by 5,900 in August to 515,900, the labor force shrank by 7,800 to 565,700 for an unemployment rate of 8.8 percent (versus 9.4 percent at the height of the Great Recession). As such, while employment... Read More »

High-End Loft Reduced 27 Percent, Going the “Auction” Route

High-End Loft Reduced 27 Percent, Going the “Auction” Route

As we highlighted in June of last year: We’ve been intrigued by the truly high-end conversion of unit #102 at 355 Bryant Street since the 2,200-square-foot loft hit the market listed for $2.195 million, or roughly $1,000 per square foot, back in 2006, outfitted with Italian cabinetry, hardware, wall... Read More »

Benchmark Mortgage Rate Holds, Short-Term Rate Drops

Benchmark Mortgage Rate Holds, Short-Term Rate Drops

With the Fed’s affirmation of a prolonged low-rate environment already priced in, the average rate for a benchmark 30-year mortgage effectively held over the past week, inching up a single basis point to 2.87 percent, which is 86 basis points below its mark at the same time last year... Read More »

Wave of Small Business Evictions on the Horizon

Wave of Small Business Evictions on the Horizon

Governed by state law, local governments normally can’t exert control over commercial leases. But having been enabled by an Executive Order issued by Governor Newsom back in March (N-28-20), and then extended in June, San Francisco was able to enact an eviction moratorium for small and medium-sized businesses (defined... Read More »

Asking Rents in Oakland Drop, Listings Jump

Having slipped last month, which shouldn’t have caught any plugged-in readers by surprise, the weighted average asking rent for an apartment in Oakland has since dropped nearly 5 percent to a little under $2,500 a month, which is now down over 13 percent since the end of last year... Read More »

Number of Homes for Sale in San Francisco Continues to Tick Up

Number of Homes for Sale in San Francisco Continues to Tick Up

The number of homes on the market in San Francisco, net of new sales and contract activity, ticked up another 5 percent over the past week to 1,680, representing 85 percent more inventory on the market than at the same last year and a new 10-year high in the... Read More »

Hillside Plans Newly Rendered and Massed for Effect

Hillside Plans Newly Rendered and Massed for Effect

As we first revealed earlier this year, plans for a 24-unit development to rise up to 40 feet in height along Diamond Street, on the hillside overlooking Noe Valley, between the intersection of Diamond Heights Boulevard and 29th Street, were in the works but San Francisco’s Planning Department was... Read More »

Expectation Gap is Growing in San Francisco

With the number of homes on the market in San Francisco poised to jump, the percentage of listings with an asking price that has been reduced at least once has ticked up to 31 percent, which is 19 percentage points higher than at the same time last year and... Read More »