Please sir, may I have some more homes?
It’s been a slow slow summer. While our summer does tend to slow down, these numbers are extremely low.
North end (Pac Heights, Cow Hollow etc.) had a total of nine sales since July 1 - highest being 2780 Vallejo at $12.775m.
Noe specifically has only eight - highest being 586 Valley at $5.2m.
Condos in the Dogpatch - six, highest at $1.62m
Our clients are asking when they will see more inventory….
Will September bring more? Yes.
Do we know of off-market / coming soon listings now ? Yes.
Will it be enough for the demand we’re now seeing? Who knows, but we certainly hope so. If you’ve mulling over selling, might this be the right time to chat?
The rent’s alive— AI Hiring Is the New Rent Spike Villain
- One-bedroom avg. ~$3,415, up ~13.3% YoY; SF leading U.S. rent growth; AI hiring + return-to-office cited as drivers. Axios
- Permitting slump despite demand (context for why rents can rise fast). Axios
- Forget plot twists—rent’s back with a vengeance, up 13.3% year‑over‑year, sitting pretty at around $3,415 for a one‑bedroom—blame surreal AI salaries and return‑to‑office drives. San Francisco now leads the U.S. in rent growthAxios. Not exactly red hot—but definitely red hot latte territory.
Megaprojects: Big Dreams, Long Naps
We’ve got 20,000 approved housing units gathering dust—blame high costs, environmental roadblocks, and tangled red tape. Projects like Hunters Point Shipyard, Parkmerced, Schlage Lock, and India Basin: still stalled San Francisco Chronicle+1. Consider that your city's greatest monuments to “planning 2.0.”
~20,000 approved units stalled; examples include Hunters Point Shipyard, Parkmerced, Schlage Lock, India Basin; cost, cleanup, financing hurdles. San Francisco Chronicle
SoMa’s surprise: SoMa’s Sneaky Towers
Low‑key huge reveal: two high‑rise towers—one 58‑floor, the other 51—are proposed at 88 Bluxome Street in SoMa, packing 1,500 units (including 150 affordable). It’s the redevelopment pivot some stalled office sites neededhousing.info+15San Francisco Chronicle+15San Francisco Chronicle+15.
“Prequel Park” at the Power Station: SF’s Pop-Up Playground
Imagine a power‑plant‑turned‑park. In the pipeline is Prequel Park: 2.75 acres of gardens, amphitheater, sports courts, and a repurposed 300‑ft chimney gallery—all part of the Power Station redevelopment, opening by early 2027 San Francisco Chronicle. Who knew coal smoke could look so pretty? Interim 2.75-acre waterfront park (gardens, amphitheater, sports, gallery in 300-ft chimney), aiming to open by early 2027; part of the 29-acre Power Station redevelopment. San Francisco Chronicle
Silver Foxes renting more (Like Millennials!).
Over‑65s make up 13% of San Francisco renters—up from ~10% ten years ago. With fixed incomes and the city’s high entry bars, many seniors are opting for “active adult” rentals—complete with cozy yoga gardens, chic pools, and zero bingo in sight The Real Deal+15Axios+
Investors are back (With Gusto)
Once shunned, SF is now magnetic again: multifamily deals jumped to $363 million in Q1 2025, triple last year. Deflated property values—30–50% below pre‑pandemic levels—and rebounding rents are luring big players like Fortress and GTIS back in businessinsider.com. If real estate is a soap opera, this is the comeback season.
Mayor Lurie: $1-Salary Savvy + 51% price surge
Mayor Daniel Lurie, sworn in Jan. 8, 2025, took home just $1 annually (instead of a $364K salary)—and has ramped up permitting transparency, office‑to‑housing conversions, and grief‑reducing task forces. His efforts coincide with a 51% rise in downtown median home list prices since last year - median list prices in the downtown ZIP (Nob Hill/Union Square/Tenderloin) up ~51% YoY in May (Realtor.com data)
Downtown list prices pop ~51% YoY (context/caveat)
- Median list prices in the downtown ZIP (Nob Hill/Union Square/Tenderloin) up ~51% YoY in May (Realtor.com data); list prices reflect mix, not closed values. Yahoo FinanceSFGATE
Your Takeaway This Month
- For buyers: Inventory may feel tight, but stalled projects could suddenly pop up on the market (depending on the neighborhood) —keep your eyes peeled.
- For sellers: Rising rents and investor interest are making SF real estate look like it had a personal trainer.
- For renters: Maybe lock in that lease… unless you like bidding wars with AI engineers.
