South Beach
Annual Price & Volume Statistics
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| Source: All statistics are from the San Francisco Association of Realtors, Multiple Listing Service (MLS). |
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1-Bedroom Condos |
Median Prices |
Median prices for 1-bed condos in South Beach were relatively flat in 2006 but are up sharply since 2002. The SoMa and South Beach neighborhoods have matured significantly over the last two years with more and more urban amenities coming online, such as Safeway, Starbucks and Borders to name just a few.
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The current inventory level (as of 1/1/07) of 11 actively listed 1-bed condos for sale in South Beach suggests prices should remain firm going into Q1 of 2007.
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* Figures current through January 22, 2009.
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2-Bedroom Condos |
Median Prices |
Median prices for 2-bed condos in South Beach have risen steadily since 2002 but were relatively flat for 2006 vs 2005. Again, the SoMa and South Beach neighborhood has matured significantly over the last two years and should continue to evolve rapidly into one of San Francisco's most densely populated areas. |
The current inventory level (as of 1/1/07) of 15 actively listed 2-bed condos for sale in South Beach suggests prices should remain firm going into Q1 of 2007.
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* Figures current through January 22, 2009.
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Cost per Foot |
The cost per foot is nearly the same for both 1- & 2-bed condos but has actually been slightly higher for 2-bedroom properties. This is unusual since there is normally a statistically significant "economies of scale" effect that makes larger properties less expensive on a cost per square foot basis. |
Nevertheless, the cost per square foot has been very consistent for both 1 & 2-bed condos and is a very useful check point on the fair market value of a property for sale.
Views and proximity to the bay will tend to skew a property's cost per foot higher than these averages.
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* Figures current through January 22, 2009.
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Unit Sales |
| Over the past three years, there has been an average of 6.2 one-bedroom and 7.7 two-bedroom condos sold per month in South Beach. |
On January 1, 2007, there were 11 one-bed and 15 two-bed properties actively listed for sale.
This represents approximately a two month supply for both categories and is characteristic of a balanced market. Unless inventory increases sharply in early Q1-07, prices should remain firm in the early part of 2007.
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* Figures current through January 22, 2009. |
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