It’s not your imagination. Newly built homes have been steadily shrinking over the decades, and the differences are now pretty dramatic. We have our theories why and an infographic to put it in visual perspective.
Britton wonders if the Incredible Shrinking SF condo can be attributed to:
Lack of space to sprawl, which means putting as many people into as little space as possible since we have nowhere to go but up?
Affordability challenges, leading developers to build smaller homes to make them more “affordable” to entry-level buyers (because 900-square-foot, one-bedroom condos with parking are typically over $1 million now)?
Expensive land, so developers build more units in a given space to make buildings more profitable?
Changing demographics: the fact that SF has lots of young, single people who just need a place to sleep and store their skateboards?
If you look at home sizes built during our most recent construction cycle, and compare them to buildings built roughly between 1995 – 2000:
Studios have lost about 1/3 of their square footage compared to studios built between 1995 – 2000.
One-bedroom homes have shrunk by about 20%, from an average size of over 850 square feet to less than 700 square feet on average.
Two-bedroom homes have shed about 25% of their square footage. Average two-bedroom size is down to about 980 square feet from over 1,250 square feet.
Three-bedroom homes have shrunk by over 600 square feet (that’s an extra studio they just squeezed in), from over 1,850 to about 1,250 square feet.
Our infographic help puts the shrinking of San Francisco condos in a visual perspective:
When you’re ready for a new perspective on San Francisco real estate, we look forward to answering your questions. Contact us when you’re ready, and learn more about San Francisco buildings, neighborhoods, and our insight into the San Francisco real estate market.