The SOMA neighborhood in San Francisco saw a substantial reduction in prices and sales in 2023. Over the past year (ending December 29, 2023), 106 condos sold in SOMA at a surprising average price of $744,283, down 29% from an average of $962,848 in the prior year. The highest and lowest sales prices in the past year were $1,400,000 for an 1805 square foot 3-bedroom condo, and $250,000 for a 307 square foot studio. The average time on the market for …
Carol Solfanelli | Compass | DRE License # 01347033 |
415-297-7031 | carol.solfanelli@compass.com
2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
Tag: SOMA
Virtual staging is becoming a more attractive option for sellers these days. Some are selling properties that they purchased back in 2015 and beyond that are selling for less than what they bought them for back then. My sweet loft at 175 Bluxome, Unit 327, is an example of just this type of property. My seller bought it for $925,000 in 2015 and now it is on the market for $829,000, almost $100,000 less than what she paid for it …
Recently, two different clients of mine contacted me about a recent sale of a property near his home. Each client had bought a unit in 2011, a year that the real estate market was just starting to come back from the 2008 downturn. Properties were staying on the market a bit longer then and motivated sellers were negotiating. Just five years later, each could likely now sell his property for $500,000 more than he paid! One client bought a two …
Yesterday, on Broker’s Tour, I went to see the Harrison, a new luxury development in SOMA designed by Ken Fulk. I have known Ken since he was doing basic stagings for $700,000 homes, and now he is an internationally celebrated designer. Upon entering from the valet parking area, my colleague and I came upon the pantry, pictured above, which is a terrific amenity available daily for the residents. We were offered many tasty treats, including delicious pastries, coffees, teas, pellegrino, …