If you’re truly plugged-in you’re already familiar with SocketSite’s Complete Inventory Index (Cii). But if you’re not:
The goal of the Cii is to paint a complete picture of housing inventory and new development in San Francisco; listed, unlisted, pipeline, and potential. In fact, we believe it represents a fundamental shift from the abstract to the tangible with regard to what’s in the works throughout San Francisco.
We’re now tracking the size, status, probability, and available inventory for over 200 new developments throughout San Francisco (30,000+ condominiums in total). And we’re keeping tabs on another 15,000+ “net new housing units” (including rental units) that are either proposed or on the drawing boards. All told, it’s a potential inventory of 45,000+ housing units (i.e., the majority of San Francisco’s overall housing pipeline).
As it stands, in addition to the roughly 610 San Francisco condominiums (and 475 single family homes) that are listed and available for sale on the San Francisco MLS, we estimate that there are approximately 660 condominiums that are not listed, but are currently available for purchase and occupancy. These condos include unlisted inventory in buildings such as The Potrero and SoMa Grand.
We also estimate that there are currently an additional 810 condominiums that are actively competing for the attention of buyers and accepting non-refundable deposits in sales offices throughout San Francisco (examples include Infinity, Arterra and The Hayes). And within the next five months, we expect to see an additional 1,700 condominiums begin marketing, accepting deposits, and competing for sales as well (think BLU, Argenta, and the second towers of Infinity and One Rincon Hill).
Looking forward, we see an additional 1,100 new market rate condominiums that are likely to start marketing/selling by the end of 2008, and another 1,800 that are either already under construction or that we believe have a chance of breaking ground within the next five months. And beyond that (and for building by building updates), you’ll just have to keep plugging in.
∙ SocketSite’s Complete Inventory Index (Cii): Q3 2006 [SocketSite
∙ SocketSite’s Complete Inventory Index (Cii): Q1 2007 [SocketSite]
∙ SocketSite’s Complete Inventory Index (Cii): Q3 2007 [SocketSite]