Number of Homes for Sale in San Francisco Holds

While the number of single-family homes and condos on the market in San Francisco (930) is suddenly twice as high as it was at the same time last year, the big year-over-year jump is currently being driven by an exodus of listings last March. That being said, overall inventory... Read More »

Bonus-Sized Polk Street Project Revised, Nearly Permitted

Bonus-Sized Polk Street Project Revised, Nearly Permitted

Having been entitled by Planning last year, the plans for an 8-story building to rise up to 80 feet in height on the Out of the Closet site on the southeast corner of Polk and California have been slightly refined to yield 97 units, versus 100 as approved, but... Read More »

Modern Infill on the Boards, Slated for Approval

Modern Infill on the Boards, Slated for Approval

Purchased for a breathless “$1,700 per square foot,” or “$1.65 million for a tear down(!),” in the third quarter of 2019, plans to raze the uninhabitable 950-square-foot Portola District home that sits on a nearly 10,000-square-foot lot at 666 Hamilton Street have been drawn.  And if approved by Planning... Read More »

Mortgage Rates Continue to Inch Up

Mortgage Rates Continue to Inch Up

While the Fed has just affirmed its intentions to maintain a low rate environment through 2023, the average rate for a benchmark 30-year mortgage, which inched over 3 percent for the first time in seven months two weeks ago, inched up another 4 basis points (0.04 percentage points) over the... Read More »

Rents in San Francisco Are Not on the Rise, at Least Not Yet

Rents in San Francisco Are Not on the Rise, at Least Not Yet

Despite some recent misreports in the media, apartment rents in San Francisco haven’t started to rebound, at least not yet. In fact, the weighted average asking rent for an apartment in the city is still holding at around $3,100 month, which is down 22 percent on a year-over-year basis... Read More »

The Numbers Behind the Lease Up of New Below Market Units

The Numbers Behind the Lease Up of New Below Market Units

Nearly 7,000 applications (6,849) were received for the 108 Below Market Rate (“BMR”) rental units in the new 537-unit development at 500 Folsom Street, on Transbay Block 9, which was completed at the end of 2019. And while waylaid by the pandemic, BRIDGE Housing was able to have 100... Read More »

Number of Homes for Sale in San Francisco Drops, But…

Number of Homes for Sale in San Francisco Drops, But…

Having inched up a percent last week, the net number of homes on the market in San Francisco has since dropped 5 percent driven by an uptick in contract activity. And in fact, while there are still 22 percent more homes on the market (930) than at the same... Read More »

Apples-to-Apples for a Remodeled Jordan Park Flat

Apples-to-Apples for a Remodeled Jordan Park Flat

Purchased as a nearly 2,500-square-foot, “top floor flat in an elegant two-unit building in Jordan Park” for $1,662,500 in December of 2014, 68 Parker was extensively remodeled in 2015, with a redesigned higher-end kitchen, new baths and built-ins. The remodeled three-bedroom flat then re-sold for $2,625,000 in April of... Read More »

Bay Area Employment Actually Dropped Again in January

Bay Area Employment Actually Dropped Again in January

While the unemployment rate in San Francisco inched down from 6.4 percent in December to 6.3 percent in January, prior to the State’s Stay Home Order having been lifted at the end of the month, the drop was once again driven by a reduction in the local labor force... Read More »

Phase 2 of the Big Potrero HOPE Project is Underway

Phase 2 of the Big Potrero HOPE Project is Underway

The second phase of the approved master plan for redeveloping the 33-acre public housing development atop Potrero Hill, a five-phase plan which aims to eventually rebuild over 600 units of distressed public housing and create an additional 155 affordable homes, along with approximately 800 market rate units spread across... Read More »