Sales Pace Quickening
April 2, 2009We’ve tallied up all sales taking place since the first of the year in San Francisco and ranked them by neighborhood. Totals include sales of single family homes, condos, TICs, lofts, stock cooperatives, 2-4 unit buildings, 5+ unit buildings, lots, and acreage. Here are the rankings:
Has the pace of sales quickened recently?
| Rank | Neighborhood | Number of Sales |
| 1. | Noe Valley | 44 |
| 2. | Potrero Hill | 23 |
| T-3 | Excelsior | 20 |
| T-3 | Bayview | 20 |
| T-5 | South Beach | 17 |
| T-5 | Inner Mission | 17 |
| T-5 | Portola | 17 |
| T-5 | Crocker Amazon | 17 |
| 9. | Bernal Heights | 16 |
| T-10 | Visitacion Valley | 15 |
| T-10 | Pacific Heights | 15 |
To see the remainder of the list and commentary, continue reading –>
| T-12 | South of Market (SoMa) | 14 |
| T-12 | Eureka Valley/Dolores Heights | 14 |
| T-14 | Russian Hill | 13 |
| T-14 | Haight Ashbury | 13 |
| T-14 | Mission Dolores | 13 |
| T-17 | Outer Sunset | 12 |
| T-17 | Outer Mission | 12 |
| T-19 | Inner Sunset | 11 |
| T-19 | Parkside | 11 |
| T-19 | Glen Park | 11 |
| T-22 | Golden Gate Heights | 10 |
| T-22 | Central Richmond | 10 |
| T-22 | Ingleside | 10 |
| T-22 | Van Ness/Civic Center | 10 |
| T-26 | Duboce Triangle | 9 |
| T-26 | Sunnyside | 9 |
| T-26 | Outer Parkside | 9 |
| T-26 | Lower Pacific Heights | 9 |
| T-30 | Ingleside Heights | 8 |
| T-30 | Hayes Valley | 8 |
| T-30 | Miraloma Park | 8 |
| T-30 | Silver Terrace | 8 |
| T-30 | Parnassus/Ashbury Heights | 8 |
| T-35 | Oceanview | 7 |
| T-35 | Nob Hill | 7 |
| T-35 | Central Waterfront | 7 |
| T-35 | Lake Shore | 7 |
| T-35 | Downtown | 7 |
| T-35 | Western Addition | 7 |
| T-35 | Marina | 7 |
| T-35 | Inner Richmond | 7 |
| T-43 | North Panhandle | 6 |
| T-43 | Cow Hollow | 6 |
| T-43 | Central Sunset | 6 |
| T-46 | Bayview Heights | 5 |
| T-46 | Corona Heights | 5 |
| T-46 | Presidio Heights | 5 |
| T-46 | Lone Mountain | 5 |
| T-50 | Mission Terrace | 4 |
| T-50 | Buena Vista Park | 4 |
| T-50 | Mission Bay | 4 |
| T-50 | Diamond Heights | 4 |
| T-50 | Lake | 4 |
| T-50 | Financial District | 4 |
| T-50 | Forest Hill Extension | 4 |
| T-50 | Forest Hill | 4 |
| T-58 | West Portal | 3 |
| T-58 | Monterey Heights | 3 |
| T-58 | Alamo Square | 3 |
| T-58 | Merced Heights | 3 |
| T-58 | Sea Cliff | 3 |
| T-63 | Jordan Park/Laurel Heights | 2 |
| T-63 | North Beach | 2 |
| T-63 | Outer Richmond | 2 |
| T-63 | Lakeside | 2 |
| T-63 | Balboa Terrace | 2 |
| T-63 | Midtown Terrace | 2 |
| T-63 | Hunters Point | 2 |
| T-63 | Inner Parkside | 2 |
| T-71 | St. Francis Wood | 1 |
| T-71 | Telegraph Hill | 1 |
| T-71 | Sherwood Forest | 1 |
| T-71 | Tenderloin | 1 |
| T-71 | Clarendon Heights | 1 |
| T-71 | Ingleside Terrace | 1 |
| T-71 | Mount Davidson Manor | 1 |
| T-71 | Twin Peaks | 1 |
| T-71 | Westwood Park | 1 |
| T-71 | Pine Lake Park | 1 |
| T-81 | Anza Vista | 0 |
| T-81 | Merced Manor | 0 |
| T-81 | Westwood Highlands | 0 |
| T-81 | North Waterfront | 0 |
| T-81 | Forest Knolls | 0 |
The top three neighborhoods (Noe Valley, Potrero Hill and Excelsior) retain their positions from March 6th, which was the last time we ran this analysis.
Sales have definitely picked up since last time, too. When we ran this report on March 6, there were only 395 total sales for the year. Here we are just 3 weeks later and we’re at 625 total sales… an increase of 58%. Not bad for a little 3 week period. The tempo has certainly quickened in the past few weeks. Is this a seasonal uptick, or an indicator of a turn-around? We think it’s more of a seasonal thing but it is certainly comes with a glimmer of hope. Activity in January and February was so low all of us were wondering if the ice would ever thaw. Thankfully it has, and we expect sales to continue at or above this pace through spring and early summer.
Activity on the low end of the market is gaining some serious momentum. Jumbo lending has eased a bit, which could help the higher end markets around the City in time. It will be interesting to see how our neighborhood ranking evolves over the year, and we’ll keep you posted all along the way.
For more countdowns and rankings, click HERE.
seasonal uptick is all.
Right… that’s what we’ve pegged it as too. What we were alluding to is that we are thankful the uptick came in the first place. There seemed to be no guarantee of an uptick after the unprecedented events of late last year. Jan and Feb were so slow it looked like the market was frozen solid, and personally we weren’t sure an uptick was on the way. Glad to see it is (although volume is lower than in years past).