San Francisco condominium prices rose 18 percent in December 2013 over the previous year, according to the Condominium Pricing Index released by The Mark Company, an urban residential marketing and sales firm. Yet new construction inventory was 78 percent lower than a year before. “With so few new condominiums now for sale in San Francisco, price appreciation is likely to continue in 2014,” states Erin Kennelly, senior director of research at the Mark Company.
A recent check of units marked as “condo” for sale in S.F. on the MLS revealed 173 properties. Of these, the most pricey was a co-op in Pac Heights for $10M. Since a co-op is not the same animal as a condo, we aimed for the next priciest that actually was a condo. Asking top dollar then is this luxury 3-bed, 3.5-bath unit 301 Mission Street shown above. This of course is the site of the Millennium Tower. The pricey structure rises not from Pac Heights, not Cow Hollow, but Yerba Buena. Price tag: $5.55M.
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