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The Avery closed 22 condos this year, more than 2024 and 2025 combined, led by a $10.5 million sale on the 55th floor
Every 2026 closing at The Avery, with the paired resales that show what a 2020 buyer got back
Twenty-two closings at 488 Folsom through October 15 against nine in the same window of 2025. Volume rose from $34 million to $81.5 million. Median price per square foot is $1,833, up from $1,556, and the building's top four sales all cleared $4.9 million.
The Avery has sold more homes in nine and a half months of 2026 than in the previous two calendar years put together. Twenty-two closings through October 15, against nine in the same window of 2025, ten for all of 2025 and nine for all of 2024. Dollar volume is $81.5 million year to date, against $34.1 million last year.
The headline sales are the two largest closings of the year, and the third- and fourth-largest in the building's record: 488 Folsom #5502, 4,312 square feet, at $10,500,000 on April 24, and #5301, 4,176 square feet, at $9,845,000 on May 26 after 55 days on market. #5301's prior sale was $8,770,000 in June 2020, so the owner who bought into the first pandemic summer resold six years later 12.3 percent higher before costs. Below them, #5202 closed at $5,395,000 ($2,614 a foot), #4901 at $4,922,000 and #4601 at $4,750,000.
Price per foot is the cleaner read than median price here, because the mix swung so hard to three-bedrooms: nine of this year's 22 sales had three bedrooms, against five of ten last year. On that basis the year-to-date median is $1,833 a foot, against $1,556 in the 2025 window, and against the building's 2019 high of $2,016. So the per-foot level is up 18 percent on last year and still 9 percent under the launch-era peak.
One number cuts the other way. Median days on market is 80 this year, not 32, because the large units took time: #4601 sat 146 days, #5301 55. Four of 16 listed sales went into contract inside two weeks; the rest did not. Of the four paired resales on record, three came back above the earlier price and one — #4205, bought in April 2022 — came back 15.5 percent under.
2026 so far, against the same window in 2025
Closings at The Avery 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.
| Measure | 2025 (same window) | 2026 year to date |
|---|---|---|
| Closings | 9 | 22 |
| Dollar volume | $34,072,500 | $81,455,000 |
| Median sale price | $3,195,000 | $3,230,000 |
| Median $/sq ft | $1,556 | $1,833 |
| Median days on market | 32 | 80 |
| Under 15 days (of MLS sales) | 1 of 4 | 4 of 16 |
Year by year
Every recorded closing at The Avery since February 2018, by calendar year. 2026 runs through October 15, 2026. Days on market is available for MLS-listed sales from 2020 onward.
| Year | Closings | Median price | Median $/sq ft | Median days | High sale |
|---|---|---|---|---|---|
| 2018 | 2 | $3,062,500 | $2,010 | — | $4,375,000 |
| 2019 | 8 | $3,017,500 | $2,016 | — | $4,600,000 |
| 2020 | 9 | $3,240,000 | $1,789 | 14 | $8,770,000 |
| 2021 | 26 | $3,400,000 | $1,866 | 91 | $11,150,000 |
| 2022 | 10 | $3,342,500 | $1,882 | 79 | $4,950,000 |
| 2023 | 3 | $2,200,000 | $1,517 | 33 | $2,350,000 |
| 2024 | 9 | $2,495,000 | $1,528 | 84 | $3,800,000 |
| 2025 | 10 | $2,847,500 | $1,534 | 36 | $11,250,000 |
| 2026 | 22 | $3,230,000 | $1,833 | 80 | $10,500,000 |
The building's highest median price per square foot in any year with five or more closings was $2,016 in 2019 (8 closings). 2026 year to date stands at $1,833.
By bedroom count, 2025 against 2026
| Beds | 2025 closings | 2025 median | 2025 $/sq ft | 2026 closings | 2026 median | 2026 $/sq ft |
|---|---|---|---|---|---|---|
| 1 bed | 3 | $1,325,000 | $1,342 | 5 | $1,350,000 | $1,368 |
| 2 bed | 2 | $2,316,250 | $1,445 | 8 | $2,700,000 | $1,678 |
| 3 bed | 5 | $3,950,000 | $1,962 | 9 | $4,750,000 | $2,200 |
Every closing in 2026
All 22 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.
| Unit | Bd | Sq ft | Sold | $/sq ft | Days | Closed |
|---|---|---|---|---|---|---|
| 488 Folsom Street #5502 | 3 | 4,312 | $10,500,000 | $2,435 | — | Apr 24 |
| 488 Folsom Street, #5301 | 3 | 4,176 | $9,845,000 | $2,358 | 55 | May 26 |
| 488 Folsom Street, #5202 | 3 | 2,064 | $5,395,000 | $2,614 | 14 | Jun 18 |
| 488 Folsom Street #4901 | 3 | 2,159 | $4,922,000 | $2,280 | 21 | Sep 25 |
| 488 Folsom Street, #4601 | 3 | 2,159 | $4,750,000 | $2,200 | 146 | Mar 12 |
| 488 Folsom Street, #4701 | 3 | 2,159 | $4,750,000 | $2,200 | 49 | Aug 04 |
| 488 Folsom Street, #3402 | 3 | 1,898 | $3,885,000 | $2,047 | 94 | Aug 04 |
| 488 Folsom Street, #4102 | 3 | 1,888 | $3,700,000 | $1,960 | 190 | Mar 21 |
| 488 Folsom Street, #5205 | 2 | 1,811 | $3,650,000 | $2,015 | 103 | Aug 04 |
| 488 Folsom Street, #3602 | 3 | 1,898 | $3,645,000 | $1,920 | 182 | Apr 30 |
| 488 Folsom Street, #5105 | 2 | 1,811 | $3,575,000 | $1,974 | 4 | Jun 23 |
| 488 Folsom Street, #3905 | 2 | 1,652 | $2,885,000 | $1,746 | 201 | May 06 |
| 488 Folsom Street, #4903 | 2 | 1,832 | $2,750,000 | $1,501 | 0 | Feb 19 |
| 488 Folsom St #4505 | 2 | 1,652 | $2,650,000 | $1,604 | — | Feb 24 |
| 488 Folsom St #4504 | 2 | 1,549 | $2,625,000 | $1,695 | — | Feb 25 |
| 488 Folsom Street, #4205 | 2 | 1,652 | $2,608,000 | $1,579 | 176 | Mar 27 |
| 488 Folsom Street, #4204 | 2 | 1,549 | $2,575,000 | $1,662 | 103 | Sep 18 |
| 488 Folsom Street, #5204 | 1 | 987 | $1,395,000 | $1,413 | 1 | Mar 17 |
| 488 Folsom St #4704 | 1 | 987 | $1,350,000 | $1,368 | — | Feb 24 |
| 488 Folsom St #4604 | 1 | 987 | $1,350,000 | $1,368 | — | Feb 24 |
| 488 Folsom Street, #4904 | 1 | 987 | $1,350,000 | $1,368 | 67 | Mar 03 |
| 488 Folsom St #3503 | 1 | 913 | $1,300,000 | $1,424 | — | Jan 28 |
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.
| Unit | Prior sale | Prior price | 2026 sale | 2026 price | Change |
|---|---|---|---|---|---|
| 488 Folsom Street, #4205 | Apr 2022 | $3,085,000 | Mar 2026 | $2,608,000 | -15.5% |
| 488 Folsom Street #4901 | Apr 2021 | $4,625,000 | Sep 2026 | $4,922,000 | +6.4% |
| 488 Folsom Street, #4701 | Apr 2020 | $4,295,000 | Aug 2026 | $4,750,000 | +10.6% |
| 488 Folsom Street, #5301 | Jun 2020 | $8,770,000 | May 2026 | $9,845,000 | +12.3% |
3 of these resold above the prior price, 1 below.
Folsom and First, right now
The Avery stands at Folsom and First. Anthropic's Howard Street cluster — 300, 342, 400, 405 and 500 Howard, roughly a million square feet in total — begins one block north (The Real Deal; SF Standard). Perplexity is at 181 Fremont, a block and a half west (SF Standard). AI companies leased 2.9 million square feet in San Francisco in the first half of 2026 alone, more than in any prior full year, per Savills and CompStak data reported by The Registry (The Registry).
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
- https://therealdeal.com/san-francisco/2026/04/07/anthropic-signs-another-san-francisco-office-lease/
- https://sfstandard.com/2026/04/07/i-leaderboard-san-francisco-office/
- https://news.theregistrysf.com/ai-firms-lease-2-9-million-sqft-in-san-francisco-in-h1-2026-topping-any-prior-full-year/
- https://techcrunch.com/2026/06/01/anthropic-files-to-go-public/
- https://sfstandard.com/pacific-standard-time/2026/10/14/pst-anthropic-openai-ipos-sf-wealth/
- https://www.bisnow.com/news/san-francisco/office/ai-surge-driving-sf-office-market-leasing-to-strong-totals-in-decades
- https://finance.yahoo.com/markets/stocks/articles/bay-area-condo-values-still-120000717.html
- The Avery · 488 Folsom St · South Beach
Tim McMullen, CA DRE #02016832. Real estate services provided by Tim McMullen, Broker, CA DRE #02016832. Figures are from recorded sales; nothing here is an opinion of the value of any home.