I am in San Francisco this week and I have to say that it is good to be back. The weather has been great and the Blue Angels performed Saturday and Sunday as a part of Fleet Week. Anyway, San Francisco looks to be breaking any and all trends in the real estate market. As the rest of the country struggles with reverberations due to the the sub-prime mortgage fallout, San Francisco seems to be going strong. An associate of mine was just telling me that she offered $75,000 above the asking price on a condo this past July and the sellers came back and asked if that was her final offer because there were 5 people that were bidding on the same condo.
As for the commercial real estate market, the south of market area (SOMA) is growing like gangbusters. Just in the year and a half that I have been gone, 4 new high-rises have been built or are in the process of being built within a 5 block radius of my old office. One of which is 555 Mission Street, which is an all glass 33 story office tower. Currently under construction, it looks awesome and has great views...billed as the ultimate corporate environment, it will have tons of natural light and will be LEED approved.
You can check out their website here.