The Mark Company always produces some of the top reports for Real Estate in San Francisco and other major cities. Here is a summary of the report for San Francisco, with a few key notes and statistics:
1) New Construction developments are either actively selling for the first time or a rental development that has been converted to for sale and is now actively selling. Most recent closings include the last 10 reported closings that have price and square footage included.
2) Sold Out developments have completed their original sales process and are now being tracked for resales. Most recent closings include the last 10 reported closings that have price and square footage included. The list may include both new and resale closings as noted.
3) This report covers new construction condominium developments with 20+ market rate units and selected sold out developments.
4) Assume that developments in the New Construction section are actively selling units unless noted otherwise. In addition, list prices and number of units available are based on the month of the report and closings are based on what has been recorded to date. Please note that closings can take 30-60 days to be recorded.
5) Date On Market refers to the date the Sales Center opened.
6) Average Absorption is calculated from Date On Market through the date of the report. It accounts for units both in contract and closed.
7) Average Price/SF is calculated using only units where both square footage and price are known. Average Price/SF is defined as the average price divided by the average square footage. Averages are weighted averages.
8) Developments are considered Sold Out once the last Market Rate unit has closed OR there have been three months without a closing, all units are in contract and the Sales Center is closed (e.g. there is no active marketing).
9) Below Market Rate units are omitted from new construction and resale closings whenever possible.