SF Trend Sheet | April 2020

• The Compass Condominium Price Tracker remained positive in April with an uptick of 0.9% YoY to $1,234/SF. Keep in mind, sales price data still reflects a proportion of offers accepted prior to the shelter-in-place order going into effect in early March.
• The Hayes Valley price tracker reported the strongest YoY increase, up 15%, to $1,337/SF; the avg. sales price was $1.187M, an uptick of 1.2% YoY.
• The Financial District-Jackson price tracker reported the largest YoY decrease for the third straight month, down 22%, to $1,203/SF — this can be largely explained by minimal closings for the FiDi-Jackson area in Apr ’20.

YoY Inventory Up 78%

• New construction continued its steep drop in activity as only 2 new contracts were signed in Apr ’20 — the shelterin-place order, which put limitations to showings and construction activity, shows signs of its effect on transaction activity.
• The new construction price tracker was down 5.5% YoY, to $1,292/SF; the
down trend in valuation YoY is partly contributed by limited closings in the high-priced segment of the market.
• New construction inventory was at 995 units in Apr ‘20, a 78% YoY increase — this is contributed in part by a combination of available inventory and limitations in the market due to the shelter-in-place order