The median sale price for 2-4 unit buildings reached just under $2MM in Q1 2019. While this represents a 5% drop from Q1 2018, we actually saw the highest monthly median sale price to date during February 2019 which closed at $2,215,000. The median market time is also lower than the same time last year at a competitive 25 days. Over half of buildings sold above their list price, with purchasers paying an average of 4.2% over asking.
Looking across districts, District 1 leads in percent of list price received. The highest number of sales occurred in District 1 followed by District 5 and District 9. There are currently 103 buildings listed for sale in San Francisco, ranging in price from $949K to $9.5MM.
YEAR-OVER-YEAR COMPARISON:
2-4 UNITS
MONTH-OVER-MONTH COMPARISON:
2-4 UNITS
CHANGE IN PAST MONTH:
SALE PRICE -7%
DAYS ON MARKET -66%
MEDIAN DISTRICT VALUES:
2-4 UNITS
* Small sample size (n<50); use caution when interpreting results.
TOP FIVE SALES IN Q1 2019:
2-4 UNITS / MIXED USE
2557 Filbert St,
Cow Hollow
$7,500,000
$1,233/SQ. FT.
3 Units
6,085 SQ. FT.
2046-2048 Filbert St,
Cow Hollow
$6,100,000
$1,793/SQ. FT.
2 Units
3,402 SQ. FT.
846-850 Union St,
Russian Hill
$4,999,999
$867/SQ. FT.
4 Units
5,770 SQ. FT.
63 7th Ave,
Lake Street
$4,800,000
$1,007/SQ. FT.
2 Units
4,768 SQ. FT.
152 Hancock St,
Eureka Valley/Dolores Heights
$4,655,000
3 Units
Q1 2019 WRAP-UP:
5+ UNITS / MIXED USE
The market for 5+ unit buildings is off to a slower start in 2019. Sales were down 43% compared to the same time last year, which does not give sufficient data to draw any reliable conclusions. There are currently 59 buildings listed for sale in San Francisco, ranging in price from $1,443,750 to $32MM.
YEAR-OVER-YEAR COMPARISON:
5+ UNITS / MIXED USE
* Small sample size (n<50); use caution when interpreting results.
MONTH-OVER-MONTH COMPARISON:
5+ UNITS / MIXED USE
CHANGE IN PAST MONTH:
SALE PRICE +55%
DAYS ON MARKET +94%
MEDIAN DISTRICT VALUES: 5+ UNITS / MIXED USE
* Small sample size (n<50); use caution when interpreting results.