SAN FRANCISCO—San Francisco's residentialinventory remains extremely tight, and prices increasedagain in May, according to the Mark Company PricingIndex. The company released reports for the month of Mayon San Francisco, Los Angeles andSeattle. In all three cities inventories of resaleunits are tight, but San Francisco, with just one month's inventoryon the market, is the tightest.

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For May, San Francisco's average prices were up1% from April. Prices rose 14% from theyear prior.

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Pricing Index is the tool for tracking the value of a newconstruction condominium without the volatility of inventorychanges. The Pricing Index uses a proprietary quantitative methodto model the price per square foot of a new 10th floor, 1,000 SFcondominium.

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San Francisco's price index for May was $1,125 persquare foot. The Penthouse Pricing Indexapplies the same methodology to a new 30th floor,2,000 square foot penthouse. San Francisco's penthouse price indexfor May was $1,932 per square foot. Resale pricesfor San Francisco condos were up 18% from a yearago.

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In Dowtown Los Angeles, the index was $673, per squarefeet, and $1,088 for the penthouse index,while Downtown Seattle's number hit $775, and$1,198 for the penthouses. In May Los Angeles had2.4 months of inventory—still considered low—andSeattle had just 1.8 months.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.