The Mark Company Trend Sheet Tracks New Construction and Resale Market Trends
San Francisco – February 10, 2015 – San Francisco new condominium prices were unchanged in January 2015 from the previous month, according to the Condominium Pricing Index released today by The Mark Company, a leading urban residential marketing and sales firm.
“New condominium inventory in San Francisco remains low, and the resale market also continues to be very strong with only 1.1 months of inventory available at the current pace of sales, indicating further price increases in the coming months,” noted Erin Kennelly, senior director of research, The Mark Company. “While there was no monthly increase in new condominium prices, January historically sees little or no appreciation compared to the previous month.”
The Condominium Pricing Index, part of the firm’s monthly Trend Sheet (available at www.themarkcompany.com), represents the price per square foot of a new 10th floor, 1,000-square-foot condominium. It is based on recent sales data, and uses a proprietary quantitative method to measure trends in market demand. It tracks the value of a new construction condominium without the volatility of inventory changes.
The Mark Company Penthouse Pricing Index, which applies the same methodology to a new 30th floor, 2,000-square-foot condominium, was $2,019 per square foot in January, unchanged from the previous month but 13 percent higher year over year.
The condominium price per square foot was $943 for resales, up 6 percent month over month, according to The Mark Company Trend Sheet for San Francisco. In addition, there were 146 condominium resales in San Francisco in January, 164 active condominium resale listings, and 93 pending condominium resale listings, the Trend Sheet found.
Available units include 456 residences at Lumina in South Beach, 165 residences at Summit 800 at Lake Merced, 24 residences at Vida in the Mission District, 19 units at Mission at 1875 in the Mission District, 15 units at Park Lane in Nob Hill, 10 residences at 8 Octavia in Hayes Valley, two residences at Amero in Cow Hollow, and one unit at Thirty Five Dolores in Mission Dolores.
The Mark Company has also released the January 2015 Downtown Los Angeles Trend Sheet and Pricing Index, as well as the Downtown Seattle Trend Sheet and Pricing Index. Both are available for download at www.themarkcompany.com.
About The Mark Company
The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to leading residential developers and financial institutions such as Tishman Speyer, iStar Financial and Bosa Development. Since 1997, The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including 300 Ivy in San Francisco, Spire in Denver, Evo in Los Angeles, and The Martin in Las Vegas. Current projects include The San Francisco Shipyard, 181 Fremont Residences in San Francisco, and SL70 in Los Angeles. For more information, visit www.TheMarkCompany.com.
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