The Mark Company Condominium Pricing Index Tracks New Construction and Resale Market Trends

San Francisco – San Francisco condominium prices rose 15 percent in February 2014 over the previous year, according to the Condominium Pricing Index released today by The Mark Company, a leading urban residential marketing and sales firm.

The Mark Company Condominium Pricing Index for February was $1,027 per square foot, which is down 2 percent from January.  New construction inventory was 82 percent lower than a year ago, and down 58 percent from the previous month.  There are only 39 units currently available, the majority of which are priced at $2.995 million or higher.

“With inventory remaining low for both new and resale condominiums, we anticipate higher prices as the market moves into the busy season and the pace of closed home sales picks up,” statesErin Kennelly, senior director of research, The Mark Company.

The Condominium Pricing Index, part of the firm’s monthly Trend Sheet (available atwww.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 $1,764 per square foot in February, up 15 percent year over year.

The condominium price per square foot was $864 for resales, down 2 percent over January 2014 but up 21 percent year over year, according to The Mark Company Trend Sheet for San Francisco.  In addition, there were 206 condominium resales in San Francisco in February, 215 active condominium listings representing one month of inventory, and 149 pending condominium listings, the Trend Sheet found.

The Mark Company has also released the February 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 South in Los Angeles, and The Martin in Las Vegas.  Current projects include The San Francisco Shipyard, Park 181 in San Francisco, and SL70 in Los Angeles.  For more information, visit www.TheMarkCompany.com.

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