December: SoMa End of Month Statistics

Statistics now include Potrero Hill and the Central Waterfront and include only Condos and Lofts.

2006 vs. 2007

Mission Bay
Median Sold Price: $884,500 vs. $681,692
Number of units sold: 6 vs. 6
Days on Market: 39 vs. 43

The maximum sold price for December 2007 was $1,285,000 (one of ours at the Beacon) vs. $1,315,750 in 2006. The minimum sold price was $510,000 for 12/06 vs. $535,000 for 12/07 .

South Beach
Median Sold Price: $795,000 vs. $640,000
Number of units sold: 27 vs. 9
Days on Market: 48 vs. 54

The maximum sales price was $1,750,000 for December 2007 vs. $1,395,000 in 2006. The minimum sold price was $409,000 vs. $373,000 in 2006.

South Of Market
Median Sold Price: $648,900 vs. $586,000
Number of units sold: 26 vs. 16
Days on Market: 59 vs. 69

South of Market is home to some of the priciest real estate in the city and hit a high this December with $2,480,000 vs. $3,300,000 last December. The highest of the 5 neighborhoods profiled here and the second highest sold price city wide. 999 Green on Nob Hill has the highest sales price for the month with $2,720,000 ($460,500 over asking). The minimum sold price for 12/06 was $284,115 vs. $306,000 this December.

Potrero Hill
Median Sold Price: $709,000 vs. $775,000
Number of units sold: 6 vs. 7
Days on Market: 52 vs. 40

Potrero Hill the only neighborhood profiled here that saw an increase in volume (+1) from last December also saw an increase in the maximum sales price from $850,000 last December to $1,425,000 this year. The minimum sold price this December was $430,000 vs. $286,150 last December.

Central Waterfront
Median Sold Price: $732,000 vs. $725,000
Number of units sold: 3 vs. 1
Days on Market: 67 vs. 110

The emerging Central Waterfront saw only one sale this December compared with three last December.

SoMa Combined ( All 5 neighborhoods)
Median Sold Price: $741,000 vs. $639,000
Number of units sold: 65 vs. 39
Days on Market: 52 vs. 57

City wide total volume for condo sales was 117 units with a mediam price of $740,000 vs. 210 units with a median sales price of $749,000 last December. The 5 neighborhoods profiled here accounted for just over 35% of the total sales volume. Add all of the non reported sales in the new developments and I would not be at all surprised if we accounted for over 50% of the total sales volume for the city.

City wide the total sales volume for condos were at it's lowest point since December 2000 when 111 units were sold with a median price of $549,000.

Michael Novia
South Beach Real Estate
415-637-2409 (24 hours)