Author: Paragon Market Analytics

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Uncorked! – May 18, 2013

On Saturday, May 18th, 2013, from 1:00 PM to 6:00 PM, Ghirardelli Square will host the Eighth Annual Uncorked! Wine Festival. Partnering with local non-profit organizations, Uncorked! is a public event which provides a delicious opportunity to taste, educate, learn and experience wine from throughout internationally acclaimed Northern California. Last year’s event, the 7th Annual Uncorked! Festival drew nearly 8,000 attendees.

Cooking demonstrations by renown Bay Area chefs, seminars, musical entertainment and food and wine purveyances will take place throughout the courtyards of Ghirardelli Square as well as extend onto the adjacent Beach Street. Tasting tickets for Uncorked! are $50.00 and include a souvenir wine glass and unlimited tastings to satisfy your Bacchanalian desires. There is no admission fee to enter the event. Revel and sip while learning wine basics, pairings and profiles.

Saturday, May 18th, 2013 from 1:00 PM to 6:00 PM PST
Ghirardelli Square, San Francisco
Tasting tickets: $50.00
Event entry: free

For more information go to www.ghirardellisq.com/events/uncorked-wine-festival/

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Paragon’s May 2013 Market Snapshot

The San Francisco Homes Market

Paragon’s May 2013 Snapshot

April’s market was basically more of the same of what we’ve been seeing for the last 12-16 months in San Francisco. Virtually all of our statistics are at historic or near-historic readings: number of homes for sale way down, months supply of inventory way down, percentage of listings accepting offers way up, days on market way down — all leading to overall house and condo median and average prices climbing to perhaps the highest points they’ve ever reached. We will add the usual caveat that no one or two months of data should be considered definitive until confirmed over the longer term: though there is no doubt that San Francisco is experiencing a red hot market, prices can fluctuate for various reasons, including seasonality.

We will have to wait and see if the current heights reached in home prices are the new baseline, a springtime blip, or a way station to even higher real estate values.

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San Francisco & Bay Area Home Values – in Maps

May 2013 Update

Below are 3 maps delineating recent median home sales prices and/or average dollar per square foot values for San Francisco neighborhoods and communities around the Bay Area. These statistics are generalities which may fluctuate for a variety of reasons, but still give an idea of comparative home values in and around the city.

Generally speaking, home price appreciation is continuing and indeed accelerating in 2013, extending the upward swing that began in 2012. This is being supercharged by increasing demand meeting inadequate supply. For more information about current market conditions and trends, please click on the “Market Dynamics Charts” link above.

In the maps below, “k” signifies thousands of dollars; “m” signifies millions; “$/sf” means average dollar per square foot; and “N/A” means there wasn’t enough data to generate a reliable number.

Home Values around the San Francisco

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San Francisco Neighborhood HOUSE Values

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San Francisco Neighborhood CONDO Values

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Real estate statistics in the Bay Area are based upon that relatively unique basket of homes that happen to sell within any given period, so instead of being exact measurements applicable to specific properties, they should be considered indications of the direction and approximate scale of market trends.

Median price is that price at which half the sales occurred above and half below – a single additional sale can sometimes make a 3-5% difference in overall median price, especially when the number of sales is low. Dollar per square foot is based on “livable space”, which should not include decks, patios, yards, garages, unfinished basements and attics, or rooms built without permit (“bonus rooms” and “in-law apartments”). Square footage figures are often unreported, measured in different ways or simply unreliable. Both these statistics can be affected by other factors besides changes in value, such as seasonality, available inventory, variations in buyer profile, changes in the distressed and luxury home markets, and variations in average home size (all things being equal, a smaller home will have a lower sales price but a higher dollar per square foot value than a larger home).
These analyses were performed in good faith with data derived from sources deemed reliable, but they may contain errors and are subject to revision. If you have any questions, please contact us.

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Urban Air Market – May 5, 2013

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Urban Air Market is a curated marketplace for “green” sustainable design. Held twice per year, this is the largest outdoor design festival in the country and the only independent fashion show. Focusing on quality, originality, cleverness and methods of sustainability,over 150 local artists and independent designers of men’s, women’s and children’s clothing, accessories, jewelry and home décor gather together to push fashion in the direction it should be going.

Previously known as the Capsule Design Festival, launched in 2003, the Urban Air Market has grown to attract over 1,500 attendees per show. Live music and open marketplace atmosphere make this block party a refreshing treat to see and experience. The free outdoor event is currently in its 9th year of success.

May 5, 2013 from 11:00 AM to 6:00 PM PSt
Hayes Valley – Octavia Boulevard at Hayes
Free to attend.

For more information go to www.urbanairmarket.com/

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February Case-Shiller Report Released

The small decline in the Index reading from December 2012 to January/February 2013 is due to seasonal market factors, not a decline in values, and occurs every year. Generally speaking, January and February sales reflect offers accepted in the holiday season period from Thanksgiving to early January, and since the higher end of the market tends to check out for this period, sales prices in the first 2 months of the year are typically lower. Based on the heat of the market since the year began, we expect to see a similar pop in C-S values in March and April that we have already seen in median sales prices.

Note: The numbers on the 2 charts below are based upon the January 2000 value of homes being calculated at 100. Thus the number 144 signifies a value 44% above that of January 2000; the number 184 signifies 84% above January 2000. However, a decline from 184 to 144 equals a 22% decline in value from one point to the other.

Before trying to apply Case-Shiller Index trends to specific cities, neighborhoods and homes — which can be deeply misleading — please read the explanation of how the Index works: http://www.paragon-re.com/Case_Shiller_Index_Deciphered_for_SF

San Francisco home values have significantly out-performed the overall Case-Shiller Index metro area over the past 12 to 18 months.

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Cinco de Mayo Festival TBA

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San Francisco’s annual Cinco de Mayo celebration is one of the City’s most spectacular traditions, showcasing the very best of Mexican and Latin American cultures with a diverse array of music, dance and artistry for the whole family to enjoy. Sure to draw thousands of guests, the ninth annual celebration is an alcohol-free, family friendly cultural event. Featuring delicious, diverse foods, nearly 50 booths where vendors will offer fine arts and crafts and important information that empowers the community through greater awareness of important topics, the SF Cinco de Mayo Festival will be whirling with culture, spirit and fun.

The Festival is produced by Mission Neighborhood Centers, Inc. Since 1959 the Mission Centers, a non-profit organization with 13 community centers, have provided quality programs that promote self-sufficiency and community growth for San Francisco though their Child Development Programs and Youth and Senior Services Programs.