Blog

January 2024 Report 2-4 Unit Multi-Family Buildings

The San Francisco Smaller Apartment Building Market

San Francisco Residential 2-4 Unit Building Sales

Number of Buildings Sold by Year

Bar chart of San Francisco 2-4 unit building sales by year, with annotations for the market crash, pandemic, and rising rates.

 

San Francisco 2-4 Unit Building Sales

Sales Volume, 2017 - Present, by Quarter

Quarterly San Francisco 2–4 unit building sales chart, with a 168-sale peak in Q2 2021 and pandemic-era dip.

 

San Francisco 2-4 Unit Building Values

Median Sales Prices, by Quarter

Chart of San Francisco 2–4-unit building median sale prices by quarter, showing a 10% year-over-year decline in Q4 2023.

 

Media Sales Price Trends since 2011 by Year

San Francisco 2-4 Unit Residential Buildings

Chart of San Francisco multifamily building prices, showing 2023 declines of 11% for 3–4-unit and 14% for 2-unit buildings.

 

San Francisco 2-4 Unit Building Values

Average Dollar per Square Foot Values, by Quarter

Closed sales typically reflect offers accepted 3 to 6 weeks earlier.

Bar chart of San Francisco 2–4 unit building values by quarter, with Q4 2023 down about 4.5% year over year.

 

Average Dollar per Square Foot Values by Year

San Francisco 2-4 Unit Residential Building Sales since 2011

Chart comparing San Francisco multifamily building prices per square foot from 2011 to 2023; 2-unit buildings generally cost more.

 

San Francisco Residential Rents - Approximate, Good Faith Estimates*

Average Asking Rent, 1994 - Present, Q1 Data Points (except as noted)

Chart of San Francisco asking rents, 1994–2023, with a dot-com peak, pandemic plunge, and subsequent rebound.

 

2-4 Unit Residential Property Sales

by San Francisco Realtor District, 2023 Sales*

Chart comparing 2023 sales of 2-, 3-, and 4-unit buildings across ten San Francisco districts, with median price and market statistics.

 

2-4 Unit Residential Building Values by San Francisco Realtor District

Median Sales Price, Median Size & Median $/Sq.Ft. Value - 2023 Sales*

Table comparing 2023 median prices, sizes, and price per square foot for San Francisco 2–4 unit buildings by district.

 

San Francisco 2-4 Unit Residential Buildings

12 Months Sales by Number of Units & Price Segment*

Bar chart comparing San Francisco two-, three-, and four-unit building sales across nine price segments.

 

Active Listings on Market in Month

San Francisco 2-4 Multi-Family Building Market, since Spring 2028

Bar chart of San Francisco 2–4 unit multifamily listings, May 2018–December 2023, with a seasonal trend note.

 

Listings Accepting Offers (Going into Contract)

San Francisco 2-4 Unit Building Market by Month

Bar chart of monthly San Francisco 2–4 unit building listings accepting offers, May 2018–November 2023.

 

Sales Price to Original List Price Percentage 

San Francisco 2-4 Unit Buildings, by Quarter

Chart of San Francisco 2–4 unit building sale prices versus original list prices by quarter, Q3 2015–Q4 2023.

 

Average Days on Market by Quarter

San Francisco 2-4 Residential Unit Building Sales

Chart of average market days for San Francisco 2–4 unit buildings by quarter, peaking at 65 days in Q1 2023.

 

Percentage of Listings Accepting Offers

San Francisco 2-4 Unit Building Market by Quarter

Bar chart showing quarterly percentage of San Francisco 2–4 unit listings accepting offers, 2017–2023.

 

San Francisco Unemployment Rates Since 2019

CA Employment Development Department Estimates

San Francisco unemployment rate chart, showing a pandemic-era peak above 13% and a rise during 2023.

 

San Francisco Employment Trends

Number of Employed Residents since 2000

Chart of San Francisco employed residents, January 2000–November 2023, with peaks and the 2020 employment plunge marked.

 

San Francisco Census Snapshots

San Francisco census infographic summarizing housing, income, employment, education, birthplace, and language statistics.

 

Components of California Population Change since 2020

U.S. Census Estimates, July 1st to July 1st

Chart of California population change by domestic migration, foreign migration, and natural growth, 2020–2023.

 

San Francisco 2-4 Unit Multi-Family Building Sales

By Broker, Residential Income Property Sales, 2021-2023*

Chart of San Francisco 2–4 unit multifamily building sales by brokerage, 2021–2023; Compass leads with 677.

 

 

Macroeconomic trends graphic with charts on mortgage rates, consumer sentiment, financial markets, and inflation.

 

Bay Area market reports webpage with a COMPASS reports banner and regional report cards.

 

Note that the quantity of sales in any given local submarket Is usually relatively small and/or the number of sales that report the necessary financial information can be limited. Buildings of different ages, qualities and sizes selling in different periods can cause these average and median figures to fluctuate significantly. Furthermore, the reliability of some of these calculations depends upon the quality of the income and expense figures provided by the listing agents, and sometimes instead of actual numbers, much less meaningful projected or scheduled figures are used. Therefore, the above statistics should be considered very general indicators, and how they apply to any particular property without a, specific comparative market analysis is unknown. 


These analyses were made in good faith with data from sources deemed reliable, but they may contain errors and are subject to revision. Statistics are generalities and all numbers should be considered approximate. 

Compass is a real es tale broker licensed by the State of California, DRE O 1527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the Information. Compass disclaims any and all liability relating to this report, including withoul /Imitation any express or Implied representations or warranties tor sratements contained in, and omissions from, the report. Nothing contained herein is Intended to be or should be read as any regulatory. legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results. 


© 2022 Compass 

 

 

Work With Hanna John Azar

During his past experiences, Hanna John Azar has gained particularly strong knowledge and hands-on experience in maneuvering complex multi-faceted value-add investments.
Contact