CFAH

Pace of New Home Sales Ticks Up, But…

Pace of New Home Sales Ticks Up, But…

While the seasonally adjusted pace of new single-family home sales in the U.S. ticked up 5.8 percent in November to an annualized rate of 640,000 sales, the pace was still 15.3 percent lower than at the same time last year, 26 percent lower than in 2020 and 8.0 percent... Read More »

Fully-Approved Polk Street Project Put Up for Sale

Fully-Approved Polk Street Project Put Up for Sale

As we outlined last year, a building permit for the fully-entitled, 97-unit development to rise up to 80 feet in height on the Out of the Closet site on the southeast corner of Polk and California was about to be approved. And in fact, a building permit has not... Read More »

Benchmark Mortgage Rate Inches Down, But…

Benchmark Mortgage Rate Inches Down, But…

The average rate for a benchmark 30-year mortgage inched down another 4 basis points (0.04 percentage points) over the past week to 6.27 percent but remains 106 percent higher than it was at the same time last year and 137 percent higher than last year’s all-time low of 2.65... Read More »

Mid-Market Condo Resells for 29 Percent Below Its 2018 Price

Mid-Market Condo Resells for 29 Percent Below Its 2018 Price

Purchased for a comp-setting $882,000 or roughly $1,313 per square foot in October of 2018, having been priced at $967,000 or $1,439 per foot by the sales office in 2017, the one-bedroom, one-bath unit #606 at 1075 Market Street (“Stage 1075”) returned to the market listed for $749,000 this... Read More »

Bonus Plans for Lower Potrero Hill Parking Lot Closer to Reality

Bonus Plans for Lower Potrero Hill Parking Lot Closer to Reality

Plans for a 5-story, 48-unit apartment building to rise on the odd-shaped Regents Cab Company parking lot parcel at 98 Pennsylvania Avenue in Lower Potrero Hill were approved back in 2016 and building permits for the project were secured and issued in December of 2018, as we outlined a... Read More »

New Home Demand Down 25 Percent, Average Loan Size Drops

New Home Demand Down 25 Percent, Average Loan Size Drops

While the number of new homes on the market across the nation is approaching a 15-year high, with over 20 percent more inventory than at the same time last year, and new home purchase application volume “rebounded” one (1) percent from October to November with a drop in rates,... Read More »

Hayes Valley Penthouse Trades for Over 30 Percent Less

Hayes Valley Penthouse Trades for Over 30 Percent Less

As we outlined last month: 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,... Read More »

Bay Area Employment Atypically Drops, Trending Down

Bay Area Employment Atypically Drops, Trending Down

While the number of people living in San Francisco with a paycheck typically ticks up in both October and November, driven by seasonal hiring for the holidays, net employment actually dropped for the second month in a row last month, decreasing by 3,700 to 560,700 in November, with 2,900... Read More »

Supersized Western SoMa Infill Development on the Boards

Supersized Western SoMa Infill Development on the Boards

Acquired for $3.25 million last year, plans for a supersized 9-story building to rise on the Western SoMA parking lot parcel on the southwest corner of Folsom and 10th Street, adjacent to Sextant Coffee Roasters, have been drawn. While the corner parcel is currently only zoned for development up... Read More »

Reductions, Rent and a Harsh Reality Part Two

Reductions, Rent and a Harsh Reality Part Two

As we outlined back in October: Purchased for $1.650 million in July of 2016, the 1,366-square-foot, two-bedroom unit #7E in the Lumina tower at 201 Folsom Street, an interior facing unit with “peaceful garden views,” returned to the market priced at $1.899 million in 2019 but was withdrawn from... Read More »