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As Condo Inventory Wanes, How Will Pricing React?

As luxury buildings are swiftly selling out, with just 2.2 months of remaining inventory, what will this mean for home prices and competition for various projects set to open?

1188 Valencia 1188 Valencia in the Mission District entered the market this month.

SAN FRANCISCO—When global tech titans Facebook, Salesforce and Dropbox throw open the doors this year, the city will be brimming with tech-savvy potential homebuyers along with thousands of jobs and new residents. According to Polaris Pacific, luxury buildings are swiftly selling out, with just 2.2 months of remaining inventory or a decrease of 13.4% year over year. As inventory in the market remains strained through 2018, what will this mean for home prices and competition for the various projects set to open?

Rockwell, a 259-unit development by Oyster Development in Pacific Heights, and La Maison, a 28-unit development by JS Sullivan Development in SOMA, just completed sales. Another project, 1188 Valencia, a 49-unit development in the Mission District by JS Sullivan Development, entered the market this month, GlobeSt.com learns.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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