Sales and Pricing Index for New Condos in SF Tick UpDecember 11, 2017
With sales offices for two new developments in San Francisco having opened their doors in October, the number of purchase contracts signed for new construction condos in the city ticked up from 55 in October to 61 in November, nearly doubling the number of contracts signed in November 2016 (32), according to sales data from The Mark Company.
And with an average of 5.0 percent more inventory from which to choose over the past year, the volume of new contract signings over the past twelve months is running 12.1 percent higher versus the twelve months before.
At the same time, while the Mark Company’s pricing index for new construction condos in San Francisco ticked up 5.4 percent last month it remains 3.5 percent lower on a year-over-year basis and 12.6 percent below its August 2015 peak, with a current inventory of around 780 new construction condos available to purchase, which is 26 percent lower versus the same time last year but 36 percent higher as compared to November 2015.
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