Having inched up 0.5 percent in March, the Mark Company’s pricing index for new condos in San Francisco ticked up 4.5 percent in April and is now running 0.6 percent higher versus the same time last year but remains 12.3 percent below its peak which was reached in the third quarter of 2015.

At the same time, with the opening of the sales office for the 33-unit development now known as 288 Pacific (a.k.a. 240 Pacific Avenue) having boosted the reported sales figures in March, the number of purchase contracts signed for new construction condos in the city dropped to 61 in April, a 52 percent drop from the month before but 74 percent higher on a year-over-year basis.

And as such, the inventory of new construction condos currently available to purchase in the city has dropped to 497, which is 48 percent lower versus the same time last year and the lowest new construction inventory level in the absolute since the third quarter of 2014, while the inventory of existing homes for sale in the city has been on the rise.

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Comments from “Plugged-In” Readers

  1. Posted by SFrentier

    Dat good. Inventory getting depleted, prices stabilizing/slightly rising/not further dropping. New construction on the outs. And this is why price decreases in SF are small and of a short duration (baring systemic crises.) ✅

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