SAN FRANCISCO—Condominium prices increased in San Francisco by 19%, significantly higher than in other western cities, according to a measure released this week by The Mark Company, a leading urban residential marketing and sales firm.

The Mark Company Condominium Pricing Index for April was $1,115 per square foot, up 8% from March. Prices increased in Seattle and Los Angeles as well, although not as dramatically.

“Low inventory and strong demand are resulting in a steady increase in prices in all three markets,” notes Erin Kennelly, senior director of research, The Mark Company. “San Francisco and Downtown Seattle in particular have experienced strong gains so far this year.”

New construction inventory in San Francisco was 45% lower than a year ago, with 136 units currently available.

The Condominium Pricing Index, part of the firm's monthly Trend Sheet (available at www.themarkcompany.com), represents the price per square foot of a new 10th floor, 1,000-square-foot condominium.  It is based on recent sales data, and uses a proprietary quantitative method to measure trends in market demand.  It tracks the value of a new construction condominium without the volatility of inventory changes.

The Mark Company Penthouse Pricing Index, which applies the same methodology to a new 30th floor, 2,000-square-foot condominium (1,000 square feet in Downtown Los Angeles), was $1,051 per square foot in Downtown Los Angeles in April, up 8% year over year; $1,915 per square foot in San Francisco, up 19 % from last year; and $1,128 per square foot in Downtown Seattle, up 16% year over year.