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SAN FRANCISCO–Five San Francisco condominium developments recently sold out with a total sales volume of more than $212 million, according to The Mark Company, an urban residential marketing and sales firm. The condos included Amero in Cow Hollow; 870 Harrison in the central South of Market district; 8 Octavia in Hayes Valley; Thirty Five Dolores in the Mission Dolores neighborhood and the first phase of The San Francisco Shipyard, a master-planned community in Hunters Point. Each of the projects achieved strong absorption and pricing while meeting the demand for new condominiums in San Francisco. Amero achieved an overall price per square foot more than $1,300 and several penthouses sold for more than $2,100 per square foot, evidence of ample market for luxury product. Thirty Five Dolores set the new benchmark at more than $1,200 in Mission Dolores while 870 Harrison reached record absorption by selling more than 75% of its units within the first two weeks on the market. The San Francisco Shipyard's strong branding and marketing outreach revitalized Hunters Point into a residential destination and offered an excellent purchase opportunity in a market where many are priced out of buying a new construction home.

GlobeSt.com recently spoke with Alan Mark, president and founding partner of The Mark Company, to discuss overall trends in the condo market and design considerations.

GlobeSt.com: Which demographic groups are driving trends in condominium development and sales, and in what way?

Alan Mark: We have seen a few shifts in the buyer demographic during the past few years but our largest buying groups continue to be Baby Boomers and Gen Y. With today's healthy economy, the majority of West Coast condominium buyers are employed in the thriving tech, biotech, healthcare and finance industries. Many San Francisco buyers work for Silicon Valley firms but prefer the urban lifestyle and culture of San Francisco. They don't mind commuting via car, Caltrain, BART or the private shuttles that many of the major tech firms offer. As the technology industry continues to gain momentum, we've noticed that an increasingly younger demographic is buying in San Francisco, no longer priced out by older generations. The largest demographic are buyers under the age of 40 and first-time homebuyers, whereas a few years ago buyers were predominantly older than 40. These young professionals are often joined by their parents on tours and even received down payment assistance. They have the salary to support a hefty mortgage, but lack savings for the down payment due to their short work history.

GlobeSt.com: As an advisor to developers bringing new product to market, what design trends are attracting homebuyers?

Mark: We've seen notable shifts toward smaller units, interactive amenities and natural materials. Millennial buyers don't mind smaller units as they are more affordable and easier to care for. These buyers are often very engaged in the neighborhoods they live in. They don't mind a smaller living space if they're in a great walkable neighborhood with a variety of restaurants, shopping, everyday services and green spaces nearby. Baby Boomers, on the other hand, will continue to be our target audience for the larger corner and view units.

Amenities geared toward social interaction are key in today's market. From outdoor rooftop theaters to extensive party rooms with catering kitchens, today's younger buyers especially like the idea of having easy access to social interaction with their neighbors and friends.

In terms of design aesthetic, many new developments have incorporated the sense of both nostalgia and authenticity in interiors, drawing on the inspiration of pieces from the 50s and 60s fused with natural materials and tones in floorings and cabinetry. We see a lot of repurposed and mixed materials used to recreate the same warm and inviting feeling you get when walking into a well-designed restaurant or hotel lobby.