The Valencia at 17th and Valencia: two closings this year by original 2003 buyers, up 86 and 94 percent, at $878 a foot

The Valencia's two sales this year both came from the building's opening month. Two condominiums closed at 3375 17th Street between January 1 and October 15, 2026, against one in the same window of 2025; $1,940,000 of volume against $1,110,000. The median sale is $970,000 and the median price per square foot is $878, against $858 last year and $927 in 2021; the building's eight 2003 sales ran at $488 a foot.

#311, a 1,196-square-foot one-bedroom loft, was bought new in September 2003 for $525,000 and sold on September 4 for $1,020,000, up 94.3 percent, after five days. #301, a 1,020-square-foot two-level loft on the top floor, was bought new in October 2003 for $495,000 and sold on June 12 for $920,000, up 85.9 percent, after 28 days; its dues run $954 (MLSListings). The median listed sale took 16 days to contract, and one of two went inside two weeks.

The building dates from 2003 on the southwest corner of Valencia and 17th, about 23 units with an elevator, a courtyard, a bike room and deeded parking, with T-Mobile and Good Vibrations as its original ground-floor tenants (SFSU Kirkeberg collection; MLSListings).

2026 so far, against the same window in 2025

Closings at The Valencia 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 The Valencia since September 2003, by calendar year. 2026 runs through October 15, 2026. Days on market is available for MLS-listed sales from 2020 onward.

The building's highest median price per square foot in any year with five or more closings was $488 in 2003 (8 closings). 2026 year to date stands at $878.

By bedroom count, 2025 against 2026

Every closing in 2026

All 2 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.

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

Valencia and 17th

The Mission police station at 630 Valencia, built in 1994 on the site of a Pepsi bottling plant, shares the corner (SFSU Kirkeberg collection). Valencia Street itself was rebuilt outside the door in 2025: the SFMTA began removing the center-running bike lane pilot between 15th and 23rd on February 10, 2025 and put side-running lanes in its place (SFMTA). In 2026 the merchants' Valencia LIVE night market has run on second Thursdays from May to October, closing Valencia between 17th and 20th for the July and August editions (Funcheap).

No AI office of any size is within walking distance; the nearest large lease is Thinking Machines Lab's full building at 2300 Harrison, about a mile east, and the office figures in the paragraphs below describe SoMa (SF Standard).

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