SAN FRANCISCO—Prices for both condominiums and penthouses in SanFrancisco rose 4% in October, according to a monthly Pricing Indextrend report from the Mark Company. The condoprice reached $1,170 per square foot, whilepenthouses came in at $2,009 per square foot.
The firm's report also showed that the city's market remainstight, with new construction inventory dropping 8% for the month.Year-to-year, however, inventory is up 406%. Looking at Resales,the report shows 4% year-over-year price growth since Oct. of 2013,but a 2% drop in October from September. The average price forOctober was $862 per square feet for resales.
The Mark Company says it Pricing Index is a tool for trackingthe value of a new construction condominium without the volatilityof inventory changes. The Pricing Index uses a proprietaryquantitative method to model the price per square foot ofa new 10th floor, 1,000 SF condominium. The Penthouse Pricing Indexapplies the same methodology to a new 30th floor, 2,000 square footpenthouse.
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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.
