It's no secret that San Francisco has faced a tremendous housing shortage in the last few years. As a result, many new condominium projects have been built recently and are recently completed or nearly completed.
Many of these are in the South of Market area, near AT&T Park or Mission Bay.
However, other in-fill projects have gone up along or near the Van Ness corridor, and that's our report for today.
Looking only at units with condominium ownership, excluding BMRs (below market rate) TIC (tenancy-in-common) or stock co-ops here's what our multiple listing showed for this area as of 3 days ago:
17 Active listings currently for sale. These range from a resale studio of approximately 470 square feet price at $460,000 to a new penthouse with 2 bedroom, 2.5 baths, about 1485 sq.ft. listed at $2,675,000.
Of the 17 available units, 12 are new construction, either completed or still being built.
15 listings have pending sales. Prices of these range from $749,000 for a 1-bedroom, 1 bath unit to $2,423,000 for a 2-bedroom, 2-bath penthouse.
10 of these pending sales are new construction, and 4 of them are in a complex not slated for completion for another couple of months.
Can you imagine the state of housing if these new developments hadn't been built?
I recently wrote a post about The Rockwell, one of the new developments in this area. Later this week look for a more detailed report about 1450 Franklin, the other new development scheduled for completion soon.