< Back to market reports

SoMa, South Beach & Mission Bay Real Estate Market Trends

Many more condos are sold in the South Beach/ Yerba Buena/ South of Market (SoMa)/ Mission Bay neighborhoods of San Francisco than any other area of the city, and since new construction is surging here, that trajectory will only continue. It is the center of SF high-rise condo buildings and also a major area for SF luxury condo sales in prestigious buildings such as the Millennium, Lumina, Infinity, 181 Fremont and Four Seasons.

A wide variety of other SF Market Reports can be found here

Link to City Map of All San Francisco Neighborhoods

Overall Market Statistics for SoMa, South Beach, Yerba Buena & Mission Bay

Unit Sales by Price Range

Active Listings on the Market
at End of Month

The number of listings on the market at any given time is determined by 3 big factors: seasonality, buyer demand and the motivation of prospective sellers to sell. Note that many of the bigger new-condo projects do not list their condos on MLS (in their first sales to the public) and thus will not show up in the chart below: big new projects have been hitting the market recently in this district and quite a few more are coming.

Number of Listings Accepting Offers (Going under Contract)

This basic measure of market activity depends upon both buyer demand and the number of listings available to purchase. Above and beyond seasonality, a big surge in condo listings accepting offers may indicate that a new development came on market during that period.

Median sales price is that price at which half the sales occurred for more and half for less. It typically conceals a large variety of different prices in the underlying individual sales, and can also be affected by other factors besides changes in home values, such as seasonality and large changes in the distressed, luxury-home or new-construction segments of the market.

Median Sales Prices, Studio & 1-Bedroom Condos

Median Sales Prices, 2-Bedroom Condos

Average Dollar per Square Foot on Sale

This statistic is based upon interior living space and does not include garages, storage rooms, decks or patios.Typically, square footage figures come from appraisals or tax records, but square footage can be measured in different ways and the figures can be unreliable. These values should be considered very general statistical approximations.

Percentage of Sales Sold over List Price

Large percentages of sales in which the price is bid up above asking price usually signifies spirited buyer competition for new listings.

Median Percentage of Sales Price to List Price

This statistic measures the percentage of list price achieved in the sales price. The higher the percentage the greater the competitive demand.

Average Days on Market

Under 30 days is considered a fast moving market. Below 20 days reflects extremely high buyer demand for new listings.

Months Supply of Inventory (MSI)

MSI measures how long it would take to sell the existing inventory of listings for sale at current rates of market activity. Typically, under 3 months of inventory is considered a seller's market; 2 months or less signify a very strong seller's market: buyers snapping up new listings very quickly. Over 4-5 months would be leaning toward a buyer's market considering the activity of recent years.

South Beach, Yerba Buena & Mission Bay Condo Values

Note that different charts below (and above) look a the market from different angles: median sales prices, average sales prices, median and average dollar per square foot values, values by bedroom count and by price segment. Some mix neighborhoods together, and others break them out separately. Each angle will deliver somewhat different results, though typically the longer-term trend lines are similar.

South of Market (SoMa District) Condo Values

Luxury Condo Market in Greater SoMa-South Beach Area

Active Listings on Market at End of Month

Luxury Condo Sales

San Francisco Luxury Condo Sales

All data from sources deemed reliable, but may contain errors and is subject to revision. Statistics are generalities and how they apply to any specific property is unknown without a tailored comparative market analysis. All numbers should be considered approximate.

© 2016-2018 Paragon Real Estate Group