In developing my blog to provide useful content about the SF Real Estate market in the South Beach, Mission Bay, SOMA neighborhoods I am creating a series specific market updates. This update is the first in a series on the market activity of Berry Street in Mission Bay. While I research market information from various sources, and follow the market day in and day out, the information is not always 100%. In particular the units representing 300 Berry St. aka The Arterra, are only representative of the units listed through the multiple listing service system and will not reflect other units they may have in the inventory. Of these buildings on Berry St, The Arterra is the only remaining building trying to sell out the units from the developer. They have made a lot of progress with some really good deals. So what does the activity look like? Below is a graph on the activity of currently listed units, sold units and withdrawn/expired units since the beginning of this year.
*Source San Francisco Multiple Listing Service System.
Bottom line…the activity of sales has been low for Berry Street. Most of the resales listed since the beginning of the year have not sold (that is true for most of the resales on this street in general). Keep in mind Berry Street is mostly new. A majority of the homeowners have only lived there for 2-3 years. Only 255 Berry residents have been there long enough to possibly see some profit in their sale. The good news is that there has been more movement in the past couple months for closings on Berry Street. Let’s hope this continues into the fall!
Great post – very true..)),