CFAH

Spring Inventory Levels Might Have Peaked in San Francisco

While one week doesn’t make for a trend, the net number of homes on the market in San Francisco (i.e., inventory) ticked down a few percent over the past week from an 11-year seasonal high, driven by a pronounced slowdown in new listing activity versus an uptick in sales.... Read More »

Office Vacancy Rate in San Francisco Hits a Pandemic High

Office Vacancy Rate in San Francisco Hits a Pandemic High

Having inched down to just under 20 percent at the end of last year, the effective office vacancy rate in San Francisco ticked back up to a pandemic high of 21.7 percent in the first quarter of 2022, representing 18.7 million square feet of vacant office space in the... Read More »

Bay Area Employment Within 3 Percent of Pre-Pandemic Count

Bay Area Employment Within 3 Percent of Pre-Pandemic Count

Having increased by a (downwardly revised) 8,100 in February, the net number of people living in San Francisco with a paycheck increased by 6,800 in March to 557,600, representing 52,600 more employed residents in the city than there were in March of last year and 78,900 more than in... Read More »

Office Vacancy Rate in the East Bay Eases, First Drop Since 2019

Office Vacancy Rate in the East Bay Eases, First Drop Since 2019

Having ticked over 18 percent at the end of last year, the office vacancy rate in the East Bay, not including Walnut Creek or further east, inched down to 17.3 percent in the first quarter of 2022, representing the first decline in the vacancy rate since late 2019 (at... Read More »

Purchase Activity for New Homes Down Despite More Inventory

Purchase Activity for New Homes Down Despite More Inventory

Mortgage loan application volume to purchase a new home in the U.S. ticked up 10 percent from February to March with typical seasonality in play. That being said, application volumes were down 5 percent on a year-over-year basis, reflecting an additional 1.1 point drop in year-over-year activity from February... Read More »

Another Chic “Over Asking!” Sale (at an Actual Loss)

Another Chic “Over Asking!” Sale (at an Actual Loss)

The “chic” and contemporary one-bedroom unit #405 in the Rowan at 338 Potrero Avenue, “a welcome oasis for the urban dweller who appreciates thoughtful use of space, a modern vibe, and great access for commuting,” just sold for $775,000 or $1,194 per square foot. And with the list price... Read More »

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

The average rate for a benchmark 30-year mortgage jumped another 28 basis points (0.28 percentage points) over the past week to 5.00 percent, which is 196 basis points and over 60 percent higher than at the same time last year, over two (2) full percentage points higher than in... Read More »

Mission District Infill Development Closer to Reality

Mission District Infill Development Closer to Reality

As we first outlined back in 2019, plans for a new six-story building to rise up to 65 feet in height at 2955 Mission Street were in the works. As designed, since refined and newly rendered by Sternberg Benjamin Architects below, the proposed development would now yield 18 condos... Read More »

Newfound Transparency Near the Top of an Infinity Tower

Newfound Transparency Near the Top of an Infinity Tower

Purchased for $2.4 million in September of 2018, the two-bedroom, two-bath unit #40E near the top of the Infinity tower at 338 Spear Street, a 1,588-square-foot unit which features an open floor plan, large bedroom suite, two private decks, panoramic views and a parking spot in the building’s garage... Read More »

Number of Homes for Sale in San Francisco Climbs

Number of Homes for Sale in San Francisco Climbs

Having hit an 11-year seasonal high last week, the net number of homes on the market in San Francisco (i.e., inventory) has since ticked up another 8 percent, driven by a continued slowdown in the pace of sales along with an increase in listing activity and price reductions on... Read More »