The median new construction price per square foot has risen to $1,326. It is expected that the majority of all condominium units currently under construction will be released for sale in 2016, suggesting a potential shortage of new units in 2017. There are a number of developments in the approval, review and/or conceptual process including Tenderloin, Treasure Island, Mid-Market and Dogpatch, to name a few. 

For the most recent quarter, the median price for a new condominium was $1,290,000. 147 units closed while 516 units remain available. Price per square foot increased 11% year-over-year and 7% month-over-month.

The median price for resale condos was $1,100,000 with 562 units sold and 142 remaining on the market. Price per square foot was $958, a 1% increase year-over-year.

The below are some of the properties currently selling:

• 450 Hayes
• The District
• 1001 Seventeenth
• Lumina
• The Rockwell
• Luxe
• Fulton 555
• 72 Townsend
• San Francisco Shipyard
• Summit 800
• 6 Mint Plaza

Click here to read the February San Francisco Development Report in its entirety.

If you're in the market to purchase a condominium in San Francisco, contact The Costa Group to find out how we can help you find the perfect home to fit your lifestyle.