December has been a busy month for real estate development in San Francisco.
Many units are still available at 1001 Seventeeth, Onyx on the Park, Sapphire, Luxe and Fulton 555 to name a few. Others including Townhomes on Tennessee, Mission@1875 and V20 recently sold out.
A quick recap of the highlights:
- Price per square foot remains static at $1,250.
- Only one unit remains at Potrero Hill's Onyx II
- New list prices were announced at Sapphire, with an average price per square foot of about $1,100
- 60% of the homes at Summit 800 in Park Merced are sold, with a square foot price of $680
Q1 is generally the strongest three months for apartment supply and Q1 2016 will bring 8 new projects offering over 1,500 units.
based on year-to-date production levels, San Francisco is projected to have 14% fewer units than in 2014 but requires 3,600 new units annually through 2022.