368 Elm, the 2007 building across from Jefferson Square Park: one closing this year, a top-floor one-bedroom listed at $598,000 and closed at $735,000 in ten days, $20,000 under its 2020 price

368 Elm's one sale this year went 23 percent over its list and still landed $20,000 under what the seller paid in 2020. One condominium closed between January 1 and October 15, 2026, against one in the same window of 2025; $735,000 of volume against $1,070,000. The price per square foot is $1,043, against $904 on last year's sale, $951 in 2024, $957 across three sales in 2023 and $1,052 across the four sales of 2020, the most in any year of the record.

#402, a 705-square-foot top-floor one-bedroom facing south with a view balcony, skylights and a herringbone marble fireplace, was listed at $598,000 and closed at $735,000 on October 14 after ten days, with one extra-deep parking space; its dues run $670 a month, and it was bought in July 2020 for $755,000, so the paired resale is down 2.6 percent (Redfin). The building has a rooftop deck with heat lamps. Its record has a lower chapter too: #406, sold at about $589,000 in 2007, closed as a $420,000 short sale in December 2009 (SocketSite, Sep 2008).

The building opened its sales office in November 2006 with 28 units of 649 to 1,249 square feet at $489,000 to $839,000, three of them below-market-rate, and proposed dues of $319 to $392; the building record on this site lists 29 units (SocketSite, Jan 2007; Redfin street index).

2026 so far, against the same window in 2025

Closings at 368 Elm between January 1 and October 15, 2026, set against January 1 to October 15, 2025. Days on market is median days from listing to contract on MLS-listed sales; "under 15 days" counts how many of those went into contract inside two weeks.

Year by year

Every recorded closing at 368 Elm since February 2020, by calendar year. 2026 runs through October 15, 2026. Days on market is available for MLS-listed sales from 2020 onward.

No year in the building's record holds five or more closings. 2026 year to date stands at $1,043 a square foot.

By bedroom count, 2025 against 2026

Every closing in 2026

All 1 closings through October 15, 2026, highest price first. Square footage and days on market are as recorded on the MLS; county-recorded transfers that never listed show no days.

Paired resales

Units that closed in 2026 and had a prior recorded sale in the same building. The change is gross, before any improvements, fees or carrying costs.

0 of these resold above the prior price, 1 below.

Elm Street, across from Jefferson Square Park

Jefferson Square Park is directly across the street, with its dog run, tennis and basketball courts, soccer field and playground; the listing names Japantown, Davies Symphony Hall, the Opera, SFJAZZ and Bill Graham Civic as the walk (Redfin). Two blocks east on Van Ness, the CVS at 701 Van Ness reversed a planned February 2026 closure, and Storage Star filed plans for a 45,000-square-foot self-storage facility in the former Mini dealership at 799 Van Ness at Eddy (Mission Local, Jan 2026).

No AI office of any size is within three blocks; the office figures in the paragraphs below describe SoMa, a mile and a half southeast.

The timetable that every South of Market building now sits inside is the public-offering calendar. Anthropic filed a confidential draft registration with the SEC on June 1, 2026, a week after a funding round that set its valuation at $965 billion (TechCrunch). As of this week the Standard reports the Anthropic listing has been pushed to November, after the midterms, that OpenAI's has moved to 2027, and that Anthropic is weighing a lockup longer than the usual six months (SF Standard). The same piece carries a Redfin estimate that current and former OpenAI and Anthropic employees could in theory buy close to a third of the metro area's homes with their proceeds, and the counter-argument from UC Berkeley's Enrico Moretti and the Bay Area Council's Jeff Bellisario that the money is concentrated in fewer hands than past booms and that these firms create fewer jobs per dollar because so much goes to data centers rather than headcount. The record in this report ends on October 15. None of it reflects a single share that has been sold.

Two citywide facts frame every building figure here. First, the office recovery is lopsided: CBRE put Q3 2026 vacancy at 27.7 percent citywide, down 6.6 points in a year, but Avison Young splits that into roughly 12 percent for Class A and north of 31 percent for Class B, and a Presidio Bay executive told Bisnow the headline number is misleading for that reason (Bisnow). Second, the condo market is still digging out: the Chronicle's May analysis found that only eight Bay Area ZIP codes showed inflation-adjusted condo gains over the year, all of them in San Francisco, and that Noe Valley's typical condo remained close to $400,000 below its 2019 level in real terms (SF Chronicle).

How this was counted

Two records feed this review. The MLS layer is one row per listing and carries days on market and square footage. The county layer reaches back further and catches transfers that never listed, but records the same closing once per data source, so the two were merged on unit, date and price and each closing kept once. Below-market-rate units and transfers under $300,000 are listed but excluded from every median. "Same window" means January 1 to October 15 of each year. Nothing here is a valuation of any unit, and nothing here is advice.

Tim McMullen · CA DRE #02016832
[email protected] · (415) 691-9272