February 2025

 
 
 

Chrissy Field, San Francisco. Photo: Monica May

Greetings, All:

 

I’m a proud San Franciscan!

 

It’s frustrating—no, downright infuriating—to see outsiders gleefully pointing out the challenges our City has faced since the pandemic. But here’s the reality: San Francisco is making a comeback. It’s been a slow but steady climb, and soon enough, the City’s detractors will find themselves eating their words as their tired narratives crumble. We’re witnessing a major shift—crime is falling, homelessness is decreasing, tourism is booming, and office and retail vacancies are steadily being filled.

 

First, we have a new mayor. Crime, drugs, homelessness—these are challenges for any major city, and while there’s still work to do, we’re bullish on Mayor Dan Lurie’s leadership. He’s prioritizing these issues head-on, and he speaks frequently about revitalizing San Francisco’s business environment.

And the momentum is real. Just look at the numbers: Moscone Center has already booked 30 events for 2025, with hotel room nights forecasted to surge by over 59%. Businesses are returning—tech firms, restaurants, small businesses. Salesforce employees are back in the office, and other Big Tech firms are expected to follow. This weekend, the NBA All-Star Game takes over Chase Center, and next year, Levi’s Stadium will host the Super Bowl. More and more companies are requiring their employees to return to the office, and as a result, vacancies are shrinking. Condo sales, including in South of Market, are finally picking up, with real estate agents citing return-to-office mandates as a key factor. While interest rates remain around 6%, home prices in some areas have dipped to 2015-2016 levels, creating prime opportunities for buyers.

 

New development is surging, with major projects reshaping the City’s future:

  • Central Waterfront Development: A seven-acre project near Potrero Hill/Mission Bay featuring housing (including affordable units), commercial spaces (labs, R&D, learning centers), a hotel, and retail.

  • Stonestown Galleria: The largest mixed-use community on San Francisco’s west side, set to unfold over the next 20 years.

  • Union Square & Powell Street Revamp: A long-overdue makeover, with potential rezoning to convert underutilized commercial space into residential and educational uses.

  • The Mess Hall at the Presidio: A vibrant new destination for food, drinks, and community gatherings.

  • Bayfront Park & Mission Rock/Pier 70: Exciting waterfront developments near Chase Center.

  • Candlestick Point: Plans have been greenlit for 7,200+ units of moderately priced housing.

  • AI & Biotech Infrastructure: As San Francisco cements its status as a hub for AI and biotech, new infrastructure is in the pipeline to support these industries.

     

Meanwhile, our commercial corridors are thriving! Take a drive down Chestnut, Fillmore, Union, 24th, Clement, Irving, Hayes, Valencia, Castro, Upper Polk, and Divisadero—you’ll see firsthand how alive and bustling these neighborhoods are.

 

The biggest question mark remains downtown and Union Square, where a reimagining and redevelopment will be necessary. But I’m confident that this administration will get it right.

 

On inauguration day, Mayor Dan Lurie declared, “There’s no City better than San Francisco when we’re at our best!”

You tell ’em, Mayor! The best of San Francisco is still ahead.

 

Till Next Month,

 

Derek, Natalie, Mo & Chrissie

 

PS: BIG announcement about the Team coming in March!
 

Market Report

by Patrick Carlisle, Market Analyst for Compass Bay Area

 

February 2025

 

The Fed kept its benchmark rate unchanged; interest rates ticked down below 7%; stock markets remain high (though sometimes volatile); consumer confidence turned a bit unsure about the future. A terrible climate-related disaster rocked the state, with human and financial costs and consequences that will take years to quantify. And for better or worse – you can make your own evaluation – national and international politics have been thoroughly destabilized by new and constantly changing developments, with yet uncertain effects on society, the economy and housing markets.
 

Team News
 

JUST LISTED

156 Lombard Street, Unit 32

2 BD 3 BA 1353 SF (APPROX) $1,285,000

JUST LISTED

300 3rd Street, Unit 918

2 BD 2 BA 1387 SF (APPROX) $995,000

IN CONTRACT

818 South Eliseo Drive

2 BD 2 BA 1346 SF (APPROX) $780,000

IN CONTRACT

193 Tamal Vista Drive

3 BD 3 BA 2282 SF (APPROX) $1,995,000

JUST SOLD

52 Camino De Herrera

3 BD 1 BA 1201 SF (APPROX) $1,450,000
 

Did You Know?

* Fact checking on social media is over: how is this working out so far? Here is one good example: Alex Jones claimed that L.A. firefighters were battling the blazes using ladies’ handbags as buckets because officials had donated their equipment to Ukraine. His post on Twitter/X has …..29 million views.

 

* Americans are broke? Inflation has decimated us? But…..its estimated $1.39 billion will be spent on Super-Bowl LIX betting this year! That equates to roughly 17,000 $80,000 down payments on a $400,000 home……
 
 

News

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Video thumbnail
 
 

The 16th Street Station in West Oakland, a landmark of African American history and civil rights activism, has been officially added to the National Register of Historic Places, marking a significant victory for preservationists and community advocates.

For the first time, Golden State Warriors star Draymond Green is getting into the restaurant game. The concept for Meski, an Ethiopian fusion restaurant and bar opening in San Francisco’s Lower Nob Hill, all came together on a serendipitous night out.
 
 

The San Francisco Public Utilities Commission is on the scene addressing the multiple 6-inch-deep potholes caused by construction related to the water system, according to a post on X from the fire department.
 

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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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