CFAH

Price per Square Foot in San Francisco Keeps Dropping

With a pronounced drop in sales and jump in reductions, the list price per square foot of the homes which are in contract across San Francisco, which is leading indicator, has dropped over 10 percent since May and has just slipped under $900 per square foot for the first... Read More »

Food for Thought 2022

Food for Thought 2022

Having been completely restored and remodeled to yield “unparalleled luxury and refinement,” the nearly 6,900-square-foot, six-bedroom Pacific Heights home with multiple living, dining and outdoor spaces; a guest suite, sauna and home theater; and a two-car garage at 3149 Washington Street hit the market listed for $9.95 million in... Read More »

Pace of New Home Sales Ticks Up but Still Down

Pace of New Home Sales Ticks Up but Still Down

Having dropped in September, the seasonally adjusted pace of new single-family home sales in the U.S. ticked up 7.5 percent in October to an annualized rate of 632,000 sales, which was only 5.8 percent lower than at the same time last year but nearly 35 percent below the pace... Read More »

Buyers are Borrowing/Paying Less for Homes

Mortgage loan application volume to finance the purchase of a home in the U.S. was only 41 percent lower on a year-over-year basis last week versus 46 percent lower the week before, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey data. At the same time, the median... Read More »

Dogpatch Development on the Boards

Dogpatch Development on the Boards

Plans to raze the old Cresco equipment rental warehouse and equipment yard at 700 Indiana Street, between the Avalon Dogpatch dog park and the Dogpatch Arts Plaza, across from Esprit Park, are in the works. And as proposed, a three-story building would rise up to 49 feet in height... Read More »

Reductions Jump, Price Per Square Foot Drops in San Francisco

While pending home sales are down nearly 50 percent in San Francisco, the number of homes on the market (i.e., inventory) is currently 35 percent higher than it was at the same time last year and nearly 70 percent higher than prior to the pandemic, including 50 percent more... Read More »

Bay Area Employment Slips

Bay Area Employment Slips

While the number of people living in San Francisco with a paycheck typically ticks up by a few thousand in October with seasonal hiring for the holidays, net employment actually slipped by 700 last month to 564,300. But with 700 people having left the local labor force as well,... Read More »

Re-Revised Plans for Club Zone Project Closer to Reality

Re-Revised Plans for Club Zone Project Closer to Reality

As we outlined last year: While permits for a five-story, 19-unit residential building to rise up to 55 feet in height upon the Western SoMa site at 33 Norfolk, a merged parcel which abuts the rear property lines of a couple of 11th Street clubs, were approved and issued... Read More »

Existing Home Sales and Median Price Continue to Drop

Existing Home Sales and Median Price Continue to Drop

Having ticked down in September, the seasonally adjusted pace of existing-home sales across the U.S. dropped 5.9 percent last month to an annual rate of 4.43 million sales, which was 28.4 percent lower than at the same time last year; well below the pre-pandemic pace of sales; and the... Read More »

Hayes Valley Penthouse Listed for $500K Less

Hayes Valley Penthouse Listed for $500K Less

Positioned as part of “The Penthouse Collection at 8 Octavia,” the modern two-bedroom, two-bathroom unit PH-2 atop the Hayes Valley development sold for $1.5 million or roughly $1,500 per square foot in February of 2020. The unit is outfitted with floor to ceiling windows, air conditioning, high-end appliances, exposed... Read More »