San Francisco, CA
California condo prices plunge in San Francisco, worth less than decade ago
Despite recent signs that San Francisco is on a path to economic recovery, condos in the city are yet to make a comeback, as several sellers are still slashing their asking prices to try to attract reluctant buyers.
As of Tuesday morning, there were a total of 687 condos listed for sale on real estate marketplace Zillow in San Francisco. Of these, 87 had price reduction—over 12 percent of all listings. Vacation rental investor Rohin Dhar, who often shares Zillow listings with dramatic price cuts on social media, wrote on X, formerly Twitter, about a one-bedroom condo unit in downtown San Francisco; it was recently sold for $680,000, down from the sum of $825,000 it fetched when it was purchased in 2015.
“As condo prices have declined in downtown San Francisco, one bedroom condos have been hit particularly hard,” Dhar wrote on the social-media platform. “Are you generally just better off renting than buying a one bedroom apartment?”
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As condo prices have declined in downtown San Francisco
One bedroom condos have been hit particularly hard
Here we have one purchased in 2015 for $825k
That just sold in 2024 for $680k
Are you generally just better off renting than buying a one bedroom apartment? https://t.co/sbzDZjyalu pic.twitter.com/UvQWYiazeu
— Rohin Dhar (@rohindhar) August 9, 2024
The Zillow listing shows that the asking price for the property, which was sold on August 7, was reduced four times by the seller since the property was put up for sale in May this year for an initial asking price of $750,000—already much less than its 2015 price. The condo was built in 2009, and homeowner association (HOA) fees are $707 per month.
Dhar shared the listing for another one-bedroom condo unit in downtown San Francisco, which is now being sold for less than it fetched in 2005—about two decades ago. The 618 square feet condo at 260 King Street was sold for $505,000 in November 2005; 10 years later, in June 2015, it was sold again for a higher sum, $615,000; and in 2018, it was purchased for an even higher $670,000.
Now the condo’s seller is trying to get significantly less for the unit. The condo was listed in February for $579,000, and since then, has seen three different price cuts. On August 1, the asking price was lowered to $498,000, but the unit remains unsold. The condo was built in 2004—which means it is 20 years old—and HOA fees are $980 per month.
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Justin Sullivan/Getty Images
Condo prices in San Francisco have seen significant drops since the pandemic, as the city faced a mass exodus of workers, especially in downtown, as well as office and retailers’ closures. Between February 2020 and February 2024, San Francisco’s condo values plunged by 12.8 percent, according to Zillow data, from $1.14 million to $997,000.
While some condo owners are still slashing listed prices and office buildings remain vacant, there have been reports that the situation is starting to change in San Francisco.
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Patrick Carlisle, chief market analyst at Compass, recently told the San Francisco Chronicle that the city’s condo market will face a significant rebound this year, pointing at his company’s data showing that the median price of a condo rose by 5.6 percent between December 2023 and February 2024 compared to the same stretch of time in 2022-23.
San Francisco, CA
Celebrated San Francisco historic landmark, the Huntington Hotel officially reopens
SAN FRANCISCO (KGO) — First opened as apartments in 1922 and converted into a hotel two years later, the Huntington was once a playground for socialites and Hollywood stars.
It shut its doors in 2020 due to the COVID-19 pandemic and remained shuttered until this week, following new owners and a million-dollar, top-to-bottom renovation.
A ribbon-cutting ceremony was held for The Huntington Hotel in San Francisco’s Nob Hill neighborhood Monday.
The hotel officially reopened on Sunday.
Mayor Daniel Lurie attended the celebration for the hotel on California Street.
“This is another sign that San Francisco is on the rise, when you have major institutions and major hotels reopening,” Lurie said. “We’re seeing it in Union Square. We’re seeing it now up here on Nob Hill. This is an exciting moment for San Francisco.”
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The hotel, known for its iconic sign, will be restoring the landmark sign to its former glory.
Many say it’s a symbol of what’s going on in San Francisco.
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“It came to symbolize San Francisco’s decline during COVID when it shut and it now, I think, symbolizes San Francisco’s rebirth,” said Greg Flynn, Flynn Group Founder, Chairman, and CEO. “It’s sort of the perfect symbol of it because it’s coming back better than it ever was.”
Alex Bastian, President and CEO of the Hotel Council of San Francisco, said hotel occupancy rates are up in 2024.
“Our data team crunched the numbers, and the four-week rolling hotel occupancy rate for San Francisco Bay Area hotels is 55.1 percent as of January 17 of this year. Compare that to January 17 of 2021, during the pandemi,c when it was 13.1 percent.”
Of course, the Super Bowl helped.
Here’s what Super Bowl LX visitors are saying about San Francisco
“There’s no marketing campaign better than what we achieved as San Franciscans,” Bastian said. “The mayor and his team really elevated the game. They did an incredible job. We are so fortunate, as a city, because so many came here and they left their hearts here in San Francisco.”
Eyewitness News wasn’t allowed to gather video of the hotel’s features, but the hotel provided renderings of a sample room.
Matthew de Quillien, The Huntington Hotel General Manager, said the hotel has 143 rooms, many of them suites. Also, the Nob Hill Spa, Arabella’s Cocktail Salo,n and a reopening of The Big Four Restaurant, featuring its famous chicken pot pie.
“Our owner was able to find the original recipe from the 70’s and we remastered it and we’re … serving it to our guests,” de Quillien said.
He said rates range from $600 a night to $7,000 a night for its Presidential suite.
The restaurant opens to the public on March 17.
If you’re on the ABC7 News app, click here to watch live
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San Francisco, CA
Vigil held for 2-year-old girl killed in SF Mission Bay crash
SAN FRANCISCO, Calif. – Walk SF and Families for Safe Streets held a vigil Monday evening to honor a 2-year-old girl who was struck and killed by a driver Friday night in San Francisco’s Mission Bay neighborhood.
The crash happened just before 9 p.m. at Fourth and Channel streets near Oracle Park. Police said the child’s mother was also injured and taken to a hospital with non-life-threatening injuries. The driver remained at the scene, and authorities said drugs or alcohol are not believed to be factors.
Community heartbroken
Community members gathered at the intersection Monday to light candles and lay flowers. Among them was the Howard family.
“We’re just heartbroken and sad,” said Hidelisa Howard.
“I was thinking about heartbroken parents, someone who cannot get their daughter back,” said John Howard.
The intersection is designated as part of San Francisco’s 2022 High Injury Network, identifying streets with the highest concentration of severe and fatal traffic crashes. Speed cameras were recently installed in the surrounding neighborhood.
Jodie Medeiros, executive director of Walk SF, called the crash a tragedy, noting a previous fatal collision involving a child at Fourth and King streets several years ago.
Traffic intensifies
Parents in the area said traffic has intensified with nearby events and development.
“We love having people here in the neighborhood, and it’s brought a lot of life to the area,” said Hidelisa Howard, who lives nearby. “But at the same time, we have people coming in from out of the area. They’re not familiar with the streets, they’re running the lights, they’re running the crosswalks.”
District 6 Supervisor Matt Dorsey said the intersection has been problematic.
“Sometimes people go too fast. I don’t know that this was the issue here, but we need to do everything we can to make our neighborhoods and our streets safer,” Dorsey said.
On Monday, crews with the SFMTA repainted crosswalks and re-timed traffic signals at the intersection.
“It just feels like there’s so many young children in this neighborhood that there should be improvements made to the way that the traffic flows around here,” said Aanisha Jain, a San Francisco resident.
San Francisco, CA
Yes, an $8 Burger Exists in Downtown San Francisco
Sometimes life requires an easy hang, without the need for reservations and dressing up, and preferably with food that’s easy to rally folks behind. The newish Hamburguesa Bar is just such a place, opening in December 2025 and serving a tight food menu of smash and tavern burgers (made with beef ground in-house), along with hand-cut duck fat fries, poutine, and Caesar salad. The best part? Nothing here costs more than $20. Seriously, this spot has so much going for it, including solid cocktails and boozy shakes. It’s become a homing beacon for post-work hangs, judging by a recent weekday crowd.
Hamburguesa Bar’s drinks are the epitome of unfussy: Cocktail standards, four beers on tap, two choices of wine (red or white), boozy and non-boozy shakes, plus 21 beers by the can or bottle. Standards on the cocktail menu are just that, a list of drinks you’ve heard before — such as an Old Fashioned, daiquiri, gin or vodka martini, or Harvey Wallbanger — with no special tinctures or fat-washed liquors to speak of (that we know of, at least). I’m typically split on whether boozy shakes are ever worth it, but the Fruity Pebbles option ($14) makes a convincing case, mixed with a just-right amount of vodka and some cereal bits. (I’ll leave the more adventurous Cinnamon Toast shake made with Fireball to others with more positive experiences with that liquor.)
Downtown and SoMa has a reputation for restaurants closing early, but Hamburguesa Bar keeps later hours, closing at midnight from Monday through Saturday (closed Sundays). It’s also open for lunch at noon during those days, with the exception of Saturdays when it opens at 5 p.m.
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