Playing Lo-Mid-Hi with SoMa Lofts and CondosDecember 8, 2008
It’s time to play Lo-Mid-Hi again! This time we’ll be showing you what your dollar buys in SoMa’s loft and condo market. There have been 157 condo and loft sales thus far (as of 12/8/08) and we’ll be taking you on a tour of the low, the mid, and the high sales. Here we go….
First up, the low sale of 2008. This studio apartment at 195 7th Street was listed at $279,000 and sold for $250,000 after 124 real days on market. No square footage was listed, but we’re pretty sure it’s tiny. No parking.
Next up, we actually had 6 sales at the median price for the nabe, which currently stands at $700,000. We selected the sale that took place most recently, which was at 321 Langton. This 2 bedroom, 3 bath tri-level loft boasts a roomy ~1,642 square feet and only took 17 days to go into contract. It sold for $700,000 on 10/29/08 after 21 total days on market, going over its initial asking price of $679,000. The last time it sold was in December of 2003 for $585,000.
The high of the year was this amazing 4 bedroom, 5.5 bath penthouse at the Four Seasons. Yeah, we know this barely qualifies as “SoMa”, but technically it is, so we’re not going to stray from the rules. It sold for over $2,000 per square foot at its full asking price of $8,975,000. It has amazing panoramic views from the 41st floor of the towering hotel/condominium. Days on market? Only 67. Not bad for a property at this price point.
To see median sales price trends for condos/lofts in SoMa, click HERE, and thanks for touring.