A SoMa condo closed $89,000 over ask — then the per-square-foot number raised a question

The day's clearest data point came at the close of escrow. 60 Rausch Street #301, a 1,712-square-foot condo in SoMa, recorded a sale price of $1,383,865 against a list price of $1,295,000 — $88,865 over ask, at $808 per square foot.

Friday's activity at a glance

All five new listings, the one pending, both MLS-feed sales, and the recorded closing were condominiums.

The recorded closing

At $808 per square foot, the Rausch Street unit closed well below the 180-day all-property median of $1,237 per square foot across 130 San Francisco sales. That gap deserves a caveat: the citywide figure spans everything from compact condos to large single-family homes, and SoMa loft-style units routinely carry lower per-square-foot figures than the broader market. The comparison is noted here for reference only; a true like-for-like read would require same-size, same-type SoMa peers.

What appeared sold on the MLS feed

Two condos appeared on the MLS feed on October 17 with a sold status. These are feed appearances, not necessarily same-day recordings.

The spread between those two is wide — $620,000 separating a SoMa address from a Lower Haight one. At $300,000, 55 Page Street #219 is the lowest-priced condo sale to appear on the feed this day.

What went pending

One condo moved to pending status on October 17: 111 Chestnut Street #409, listed at $1,250,000.

What came on

All five new listings were condominiums, ranging from $730,000 to $5,250,000.

All five appeared on the MLS feed on October 17. The Jones Street unit at $5,250,000 is the day's outlier — more than twice the price of the next listing. The two Mission Bay and SoMa entries (Brannan and 4th Street) sit at opposite ends of that corridor's price band.

How the San Francisco market is doing

Over the last 180 days, 130 sales across all property types in San Francisco recorded a median price of $1,466,000, a median size of 1,220 square feet, and a median price per square foot of $1,237. The range across those 130 sales ran from $563,000 to $8,500,000. No year-ago comparison is available for the same window.

Friday's five new listings had a median ask of $1,995,000 — above the 180-day all-type median, though the day's new supply was entirely condominiums, which is not the same pool. The recorded closing at $808 per square foot sat below the 130-sale median of $1,237 per square foot, consistent with the pattern that larger SoMa units tend to price lower on a per-square-foot basis than the mixed market median.

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