Take th e Sale o f You r H o m e fro m
GOOD
TO
G R E AT
with realtor Kira Mead
Modern Real Estate for a Modern San Francisco
S A L E S & M A R K E T S TAT I S T I C S F O R Y O U R N E I G H B O R H O O D •
201 4
Every block is a short story, every hill a novel: LET US TELL THE STORY OF YOUR HOME.
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M O D E R N R E A L E S TAT E F O R A M O D E R N S A N F R A N C I S C O YOUR SUCCESS IS OUR SUCCESS D E A R NEI G H B OR , It is our pleasure to share with you our annual review of the District 5 residential real estate market, which is based on extensive personal research for our clients. In the section for your neighborhood, you'll find a detailed breakdown and analysis of sales for both houses and condos. We hope you find this information useful as we move toward a stellar 2015. 2014 was a great year for San Francisco real estate, and 'District 5', in the heart of the city, was no exception. The year was characterized by incredibly low inventory and multiple, over asking price offers on almost every property. Prices also rose year over year in almost all neighborhoods, most dramatically.Â
In 2015, we expect to see more homes come on the market, and if you've been thinking of selling your home, now is the time to harness the power of a thriving, high competition market. Each property is unique and the place to start is seeing your home and providing you with an analysis for what your property could sell for. Whatever your goal, we're here to help you achieve it.
We look forward to helping you succeed in the San Francisco real estate market. Warmly,
Kira Mead & the Modern SF Team 3
S TA G I N G & M A R K E T P R E P : B E FO R E & A F T E R What does it really mean to transform a space? Take a look through our before and after photos to see what ‘creating a design-centric’ listing really means. Call or email us for more photos and the case studies of our approach to these homes.
BEFORE
AFTER
BEFORE
AFTER
BEFORE
AFTER
BEFORE
AFTER
EVERY PROPERTY IS DIFFERENT BUT THE GOAL IS THE SAME: showcase what makes your home special, and present it in way that allows buyers to make that key emotional connection.
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ON-MARKET EXPOSURE Creating maximum exposure for your listing is vital to reaching the largest pool of qualified buyers. From featuring our listings on Trulia, to Facebook ads that reach thousands of people to our hyperlocal monthly magazine, we create a media blitz across all channels to ensure your listing gets the attention it deserves.
TRULIA
CURBED.com • OUR HOME ON THEIR BLOG
DEDICATED PROPERTY WEBSITE
ZILLOW
We produce design-centric one-of-a-kind listings that command top dollar for our clients.
MONTHLY MAGAZINE FEATURE
NEXT UP: 1222 masonic
is the upper unit and spans two levels, featuring 2 bedrooms, 2 bathrooms, and a huge, special upper floor bonus space with a myriad of possible uses. The open living and dining room feature period molding, built-in shelving, modern lighting, and sliding doors opening to the private deck which lets in tons of light. The upper floor is very special, truly a wow space. Features include high ceilings, refinished parquet flooring, and new carpet as well as built-in shelving. Beamed ceilings and a decorative painted chimney add character to this gorgeous, sunny space and a private deck boasts views to downtown. This home is just a few houses away from bustling Haight Street, with a wide array of worldclass boutiques, restaurants, and cafes. Blocks from the Golden Gate Park Panhandle as well as a short stroll to beautiful Buena Vista Park and charming Cole Valley, this home is perfectly situated for the ultimate urban lifestyle.
OUR R E VI E W OF DISTR I CT 5 SEE HOW YO UR NEIGHB O R HO O D PERFORME D I N
2014
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3
5
4
9 6
2 11
10
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COND O I N H A I G H T AS H B URY
1222 Masonic Ave RED F E AT U S F 'S RBED ON CU
T 1 0 M OSHOMES
IF U L B E AU T
THE TO H ITK E T ! MAR
San Francisco CA 94117
$ 1,094,000 bed 2 park 1 car bath 2 bonus upper floor space
1 2 3 4 5 6 7 8 9 10 11
Buena Vista Clarendon Heights Cole Valley Corona Heights Duboce Triangle Eureka Valley Glen Park Haight Ashbury Mission Dolores Noe Valley Twin Peaks
BU ENA V I STA & ASHBURY HEIGHTS We remember discovering BUENA VISTA and ASHBURY HEIGHTS many years ago, when moving to San Francisco. Buena Vista and Ashbury Heights have some of the most beautiful, elegant architecture in the city. With interesting views, quiet streets and within strolling distance to Cole Valley and the Haight, these homes are some of the most highly coveted, and expensive, in San Francisco.
2014 STATS
HO US E
PRICE PE R SQ F T
$
AVERAGE % OVER ASKING PRICE M EDIAN SALES PRIC E I N CRE ASE 2013–14
AVERAGE PRICE FOR A HO ME IN 2014
M EDIAN SALES PRIC E
$
3 BED
1 849 000 $ 2 842 000
ON LY 2 SA LES
944 11 % 25 %
971 000 $ 1 543 000 $
2 BED 3 BED
20 12
2013
2014
2012
2013
20 1 4
25
19
17
20
33
29
2 235 000 1 760 000 776 38
AV G % OVER ASKING PRIC E
1%
$
$ $
2 604 000 2 400 000 $
936 46 3%
IN 2014, there were 17 sales of single family homes. The median price for a house actually decreased by 9%, due to 47% of homes being sold between $1.5–2.5M. However, the price per square foot increased 13.5% to $1,062. Impressively, 3 out of 12 of the most expensive sales in District 5 were in Buena Vista/Ashbury Heights, with the biggest sale in all of District 5 being the off market, all cash sale of 737 Buena Vista Ave for $10 million dollars.
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$
$
AV ERA GE DAYS ON MARK E T
PRICE PE R SQ F T
1 692 000
$
N U MBE R OF SAL ES $
1062 5% -9 %
2 BED 4 BED
AVERAGE SALES PRIC E
CONDO
S I N GLE FA MILY
$ $
3 007 000 2 200 000 $
1062 30 5%
886 000 $ 695 000
$
$
743 52 4%
$
1 087 000 $ 960 000 $
847 31 6%
$ $
1 165 000 1 200 000 $
944 28 11 %
IN THE CONDO MARKET, the median price increased 25%, to $1,200,000, while price per square foot went up 11.4% to $944. On two very different ends of the spectrum, the average price for 2 bedroom condos was $971,000, with the majority of these sales being in Buena Vista, 7 of which were at 355 Buena Vista Ave. On the other hand, the average price for a 3 bedroom was $1,543,000, with most properties located in Ashbury Heights.
C L A RENDON H EI G HTS North of Twin Peaks and east of Mount Sutro, CLARENDON HEIGHTS boasts incredible views of both the Golden Gate and Bay Bridges, Clarendon Heights is also home to a wide spectrum of architecture. Many of the original dwellings still remain, giving the area an eclectic feel.
HOUSE
$
—
3 BED
2 733 000 $ 2 540 000
$
752 -1 % —
— $ 1 438 000
2 BED
$
4 BED
3 BED
PR I C E PER SQ FT AVERAGE % OVER ASKING PRICE
N OT EN OU G H DATA
O N LY 1 SA LE
20 13
20 14
2012
2013
2014
11
10
10
4
N O SA LES
1
854 000 773 000
— —
636 59
— —
6%
—
414 000 2 570 000 $
676 75 –2 %
3 126 000 $ 2 638 000
$
$
871 63 –3 %
$ $
2 627 000 2 500 000 $
815 22
$ $
$
5%
2014 WAS A FUNKY YEAR for Clarendon Heights. As usual, only a small number of homes were sold. Ten to be exact. Reflecting the larger homes in this area, there were no 2 bedroom houses, and only one condo.
ME DI A N SA LES P RICE I NC R E AS E 2013–14
AV E RA G E P RICE FOR A H O ME I N 2014
2 012 $2 $
815 5% -5 %
2 BED
2 0 1 4 STATS
CONDO
S I N G L E FAM I LY
$ $
1 438 000 1 438 000 $
NU MB E R OF SA LES AV E RA G E SA LES P RICE ME DI A N SA LES P RICE
752 25
PR I C E PER SQ FT
–1 %
AV G % OVER ASKIN G P RICE
AV E RA G E DAYS ON M A RKET
THE MEDIAN PRICE for homes actually decreased 16%, due to 8 out of 10 homes in 2013 selling at over $2.2M. Price per square foot also went down 7%, mainly due to the sale of 5 out of 10 houses being over 3,200 sq ft. Still, 8 out of the 10 homes sold for over over $2 million dollars, with the highest sale being 226 Palo Alto Avenue, at $3,955,000.
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COLE VALLEY Awww, COLE VALLEY. This sweet little neighborhood has an almost European feel, with its local businesses, gracious streets and people strolling. Zazie doesn’t hurt anything either. Those who love Cole Valley love Cole Valley, and it continues to be a place that many people search for their ‘forever’ homes. WIth its quiet streets but proximity to the N Judah and UCSF, it’s a lovely mix of quiet and cosmopolitan. Access to Tank Hill, Golden Gate Park and Mt. Sutro are huge draws for cosmopolitan nature lovers.
2014 STATS
HO US E
995 6% 27.8 % $
PRICE PE R SQ F T AVERAGE % OVER ASKING PRICE M EDIAN SALES PRIC E I N CRE ASE 2013–14
AVERAGE PRICE FOR A HO ME IN 2014
$
3 BED
2 013 000 $ 2 670 000 2014
2012
2013
20 1 4
26
17
21
22
36
27
1 848 000 $ 1 736 000
$
854 43
AV G % OVER ASKING PRIC E
3%
$
2 082 000 $ 1 855 000
$
$
849 29 9%
ITS TINY GEOGRAPHY showed itself in the sale of 21 houses and 27 condos in 2014, up 20% for houses and down 33% for condos. The median price of houses rose 22% to $2,370,000, driven in large part by the sale of 58% of houses over $2.25M. This higher sales price is also reflected in the size of the homes sold. 9 of the 21 homes, or 42%, were 4 bedrooms or larger.
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3 BED
2013
AV ERA GE DAYS ON MARK E T
PRICE PE R SQ F T
959 000 $ 1 322 000 $
2 BED
$
871 8% 1.1 %
20 12 N U MBE R OF SAL ES
M EDIAN SALES PRIC E
$
1 547 000
2 BED 4 BED
AVERAGE SALES PRIC E
CONDO
S I N GLE FA MILY
2 268 000 $ 2 370 000
$
$
995 26 6%
$ $
948 000 883 000 $
685 52 4%
$ $
1 070 000 1 078 000 $
813 38 9%
1 094 000 $ 1 115 000
$
$
871 34 8%
THE CONDO MARKET did not rise as much, though still did well, with price per square foot rising 7.1% to a respectable $871/sq ft. For one bedroom buyers, this is a good place to get in the market, with 26% of homes selling for $600–750,000. 48% of condos sold for $1–1.5M, ranging from 1,208–1,867 square feet.
CORONA HEIGHTS Tiny, affluent CORONA HEIGHTS is described at ‘the best kept secret in San Francisco’ by those who live here. With its spectacular views, ample parking and beautiful architecture, it’s a peaceful place to call home. Narrow, quaint and winding streets lead to the bustling commercial areas of Market and Castro streets. The architecture runs the gamut from fine Victorians to modern masterpieces.
HOUSE
925 6% 42.5 % $
2 BED
$
3 BED
$
$
1 489 000
917 10 % 1%
PR I C E PER SQ FT AVERAGE % OVER ASKING PRICE ME DI A N SA LES P RICE I NC R E AS E 2013–14
AV E RA G E P RICE FOR A H O ME I N 2014
992 000 $ 1 835 000 $
2 BED
1 656 000 $ 2 253 000
4 BED
2 0 1 4 STATS
CONDO
S I N G L E FAM I LY
3 BED
2 012
20 13
20 14
2012
2013
2014
22
24
15
37
28
22
1 299 000 $ 1 218 000
$
$
696 62 4%
1 239 000 $ 1 105 000
$
$
821 33 11 %
1 708 000 $ 1 575 000
$
$
925 33
$ $
950 000 950 000 $
681 40
6%
IN 2014, there were 15 houses and 22 condos sold. The median price of a house increased a whopping 42.5% to $1,708,000. The average price per square foot also increased 12.8% to $925. The highest sale was 10 Deming, a gorgeous contemporary view home which sold at $3.3 million. The condo market was very diverse, on both the higher and lower end of the spectrum.
3%
$ $
1 028 000 1 005 000 $
7 71 37 11 %
$ $
1 109 000 1 100 000 $
NU MB E R OF SA LES AV E RA G E SA LES P RICE ME DI A N SA LES P RICE
917 34
PR I C E PER SQ FT
10 %
AV G % OVER ASKIN G P RICE
AV E RA G E DAYS ON M A RKET
PRICE PER SQUARE FOOT went up 18.9% to a very respectable $917. The median price went up only 1%, with 36% of condos selling under $700,000. This drove down the average of a bedroom condo to $554,000. On the higher end, 45% of condos sold for $1–1.5 million and 86% of condos that sold were 2 bedrooms, with the average sales price being $992,000.
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DUBOCE TRIANGLE D U B O C E T R I A N G L E is one of the most loved (and
tiniest) neighborhoods in San Francisco, with its tree-lined streets, beautiful architecture, central location, and access to some of the city’s most vibrant commercial areas. Nestled between Market and Church Streets and steps to the Castro, Duboce Triangle has access to a wide array of world-class boutiques, restaurants, and cafes. Duboce Park is a favorite of dog lovers throughout the city. With central Muni lines running through it, this neighborhood is perfectly situated for the ultimate urban lifestyle.
2014 STATS
HO US E
982 2% 39.8 % $
PRICE PE R SQ F T AVERAGE % OVER ASKING PRICE M EDIAN SALES PRIC E I N CRE ASE 2013–14
$
3 BED 4 BED
N U MBE R OF SAL ES AVERAGE SALES PRIC E
$
M EDIAN SALES PRIC E
$
2 204 000 —
3 BED
O N LY 2 SA L ES
2013
2014
2012
2013
20 1 4
2
3
3
12
12
29
1 469 000 1 469 000
$ $
1 688 000 1 650 000
PRICE PE R SQ F T
NOT AVAILABLE
33
972 31
AV G % OVER ASKING PRIC E
13 %
4%
$
2014, condos in Duboce Triangle can be divided into
two categories: ‘The Century’ (new construction building at Market and Sanchez) and ‘Non-Century’. 20 units sold at the Century, ranging from $978–$1,340/sq ft. Aside from that, just 9 condos sold in Duboce Triangle. For these more historic condos, the median sales price was $1.2 million and the average price per square foot was $909.
12
1 068 000 $ 1 280 000
$
2 BED O N LY 2 SA LES
1068 6% 2.2 %
20 12
AV ERA GE DAYS ON MARK E T
IN
$
ON LY 3 SA LES
—
2 BED
AVERAGE PRICE FOR A HO ME IN 2014
CONDO
S I N GLE FA MILY
$ $
2 419 000 2 308 000 $
982 25 2%
905 000 $ 873 000
$
$
694 33 9%
1 090 000 $ 1 125 000
$
$
825 45
1 083 000 $ 1 150 000
$
$
1068 14
16 %
IN THE CONDO MARKET in general, 93% of sales were of 2 bedroom properties, and just two 3 bedroom condos sold in 2014. Price per square foot increased 29.4% overall, to $1,068/sq ft, though again this number was largely affected by sales at the Century. There were just 3 single family houses sold in 2014, ranging from $2.3–2.8 million.
6%
EU R E KA VALLEY Encompassing serene Dolores Heights and the world famous Castro, home to a proud history of gay rights culture and known for its colorful residents, EUREKA VALLEY is one of the favorite neighborhoods of locals. Located super centrally, the hard-to-resist neighborhood is full of narrow and curvy streets that are home to a variety of properties, from sweet little condos tucked on the hill to beautifully renovated homes with stellar views.
HOUSE
$
1044 12 % 30.7 %
$
1 645 000
2 BED
$
3 BED
2 190 000 $ 2 952 000
971 15 % 7.8 %
PR I C E PER SQ FT AVERAGE % OVER ASKING PRICE ME DI A N SA LES P RICE I NC R E AS E 2013–14
AV E RA G E P RICE FOR A H O ME I N 2014
1 170 000 $ 1 476 000 $
2 BED
$
4 BED
2 0 1 4 STATS
CONDO
S I N G L E FAM I LY
3 BED
2 012
20 13
20 14
2012
2013
2014
75
71
45
50
66
67
1 878 000 $ 1 545 000
$
$
801 35 5%
$ $
1 792 000 1 560 000 $
988 25 9%
$ $
2 306 000 2 040 000 $
$
1 022 000 $ 900 000
1044 24 12 %
$
732 47 4%
2014 WAS A FINE YEAR for Eureka Valley. There were 45 single family house sales this year, with the median increasing 30.7% to break the $2M mark at $2,040,000. 64% of houses sold between $1.5–2.5 million with the average price for a 3 bedroom home coming in at $2.2M and the average for a 4 bedroom just pushing $3M at $2,952,000.
$ $
1 219 000 1 160 000 $
866 27 12 %
$ $
1 269 000 1 250 000 $
NU MB E R OF SA LES AV E RA G E SA LES P RICE ME DI A N SA LES P RICE
971 28
PR I C E PER SQ FT
15 %
AV G % OVER ASKIN G P RICE
AV E RA G E DAYS ON M A RKET
ADDITIONALLY, 2 out of the 6 most expensive sales in District 5 were in Eureka Valley, including the off market all cash sale of 250 Cumberland for $6 million. In the condo market, the median price rose 7.8% to $1,250,000, and the price per square foot gained 12.1%, ending the year at $971/sq ft, poised to break the $1,000/sq ft market in 2015. 50% of condos sold between $1–1.5 million.
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G LEN PAR K GLEN PARK has long been considered a gem by the people who live here. This little hamlet has a small town, community feel to it that the residents who live here love. In the last few years, as many buyers are looking for homes with close proximity to BART and the Peninsula, Glen Park is quickly becoming more and more choice. But all the things that locals have known about remain: wild and green Glen Canyon park, local shops, winding streets and neighbors who know your name. We think Glen Park should continue to rise. As Noe Valley, just to the North, has risen drastically, Glen Park is directly affected. New, very high end houses on the border of Noe Valley are being built and Glen Park has larger lots than areas like Bernal, allowing many homeowners to expand.
2014 STATS
HO US E
895 16 % 11.2 %
AVERAGE % OVER ASKING PRICE M EDIAN SALES PRIC E I N CRE ASE 2013–14
AVERAGE PRICE FOR A HO ME IN 2014
$
3 BED
1 513 000 $ 1 925 000 2014
2012
2013
20 1 4
65
69
73
14
17
16
1 063 000 $ 940 000 663 44
AV G % OVER ASKING PRIC E
8%
$
$ $
1 332 000 1 272 000 $
803 30 12 %
IN 2014, there were 73 houses sold, more than most of the closer in areas of the city. Reflecting Glen Park’s diversity of housing stock, these sold from a little guy at $699K all the way to a view home at $2.8M. 70% of houses sold for between $1–1.75M. While the median price went up 11% this year, modest for SF in 2014, the median price from 2012–2014 has gone up 51%.
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3 BED
2013
AV ERA GE DAYS ON MARK E T
PRICE PE R SQ F T
911 000 $ 1 298 000 $
2 BED
$
20 12 N U MBE R OF SAL ES $
$
1 209 000
2 BED 4 BED
M EDIAN SALES PRIC E
760 12 % 17.2 %
$
PRICE PE R SQ F T
AVERAGE SALES PRIC E
CONDO
S I N GLE FA MILY
1 492 000 $ 1 415 000
$
$
895 24 16 %
$ $
874 000 794 000 $
619 44 5%
$
1 002 000 $ 840 000 $
724 26
$
1 107 000 $ 985 000 $
9%
THE PRICE PER SQUARE FOOT of all houses was $895, but interestingly, the average price per square foot of a 2 bedroom house was $1,319/sq ft, while the average price per square foot for a 3 bedroom was $1,210. Just 16 condos sold, with the median price increasing 17.2% to $985,000. 67% of all condos sold were 2 bedrooms.
760 21 12 %
HAIGHT ASHBURY HAIGHT ASHBURY is one of the neighborhoods most visitors think of when they conjure up visions of San Francisco. The main drag is colorfully vibrant, with vintage stores, local restaurants and groceries and an eclectic blend of people. With the Panhandle, Golden Gate and Buena Vista all within walking distance, the Haight has some of the city’s best parks at its doorsteps. Certainly not least, if you love classic architecture, Haight Ashbury is a dream, with elegant and elaborate Victorians gracing its streets.
HOUSE
$
$
1 100 000
3 BED
$
2 068 000 —
4 BED
$ $
908 7% 4.4 %
2 BED
2 0 1 4 STATS
CONDO
S I N G L E FAM I LY
$
ONLY 1 SALE
PR I C E PER SQ FT AVERAGE % OVER ASKING PRICE ME DI A N SA LES P RICE I NC R E AS E 2013–14
AV E RA G E P RICE FOR A H O ME I N 2014
967 000 $ 1 347 000 $
2 BED
ONLY 2 SALES
861 5% 2.2 %
3 BED
2 012
20 13
20 14
2012
2013
2014
6
5
5
31
29
30
1 812 000 1 938 000 $
645 41 3%
$ $
2 325 000 2 225 000 $
707 40 8%
$ $
2 392 000 2 350 000 $
908 18 7%
965 000 $ 955 000
$
$
639 37 5%
IN 2014, just 5 houses sold in the Haight, similar to sales over the last 3 years, making statistical predictions difficult. While all properties are different, this is especially so in the Haight, with sales of houses ranging from $1.1M–$3,825,000. 2 of these houses were large 6 bedrooms homes with over 4,000 square feet. The condo market showed much more diversity with 30 sales, almost the same as last year.
$ $
1 172 000 1 110 000 $
738 24 12 %
$ $
1 144 000 1 124 000 $
NU MB E R OF SA LES AV E RA G E SA LES P RICE ME DI A N SA LES P RICE
861 30
PR I C E PER SQ FT
15 %
AV G % OVER ASKIN G P RICE
AV E RA G E DAYS ON M A RKET
WHILE THE MEDIAN SALES PRICE rose by only 2.2%, driven by 8 sales under 900K, the price per square foot increased 16.7% to $861. 60% of condos sold for $1–1.75M. The average sales price of a 2 bedroom condo was $967,000 with 19 sales, while the average price of a 3 bedroom was significantly higher at $1,347,000, with 9 sales.
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MISSION DOLORES MISSION DOLORES continues to be one of the most popular neighborhoods in San Francisco, and is in most locals minds when they think of modern San Francisco living. With its proximity to Dolores Park, its flat, strollable streets and the unbelievable amount of restaurants, bars, coffee shops and boutiques, it’s the epitome of urban living. Many of our clients talk about wanting to be in the center of where things are happening, and the Mission tends to feel like just that.
2014 STATS
HO US E
$
PRICE PE R SQ F T AVERAGE % OVER ASKING PRICE M EDIAN SALES PRIC E I N CRE ASE 2013–14
AVERAGE PRICE FOR A HO ME IN 2014
$
1 856 000
3 BED
$
1 505 000 —
$
M EDIAN SALES PRIC E
$
1 094 000 $ 1 425 000
$
2 BED
ON LY 2 SA LES
3 BED
2014
2012
2013
20 1 4
3
5
4
36
45
42
1 225 000 1 350 000 811 12
AV G % OVER ASKING PRIC E
28 %
$
$ $
1 821 000 1 600 000 $
901 14 20 %
THESE SENTIMENTS aren’t totally reflected in the numbers for 2014, perhaps because the Mission had such a huge year last year. There were only four houses sold in Mission Dolores last year, hardly enough to delve into statistics. The highest sale was 41 Cumberland, at $4,995,000. The average price per square foot for a house was $978.
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O N LY 1 SA LE
2013
AV ERA GE DAYS ON MARK E T
PRICE PE R SQ F T
914 10 % -9.8 % $
ON LY 4 SA LES
20 12 N U MBE R OF SAL ES AVERAGE SALES PRIC E
978 10 % 8%
2 BED 4 BED
CONDO
S I N GLE FA MILY
2 466 000 $ 1 728 000
$
$
978 32 10 %
789 000 $ 738 000
$
$
717 46 6%
$ $
1 183 000 1 225 000 $
920 28 10 %
$ $
1 165 000 1 105 000 $
914 34 10 %
THE CONDO MARKET had much more diversity, with 42 sales. The median sales price actually went down 9.8% and the average price per square foot went down 1.1% This doesn’t seem as surprising when you look at year over year gains. From 2012–2014, the median price went up 50% to $1,105,000, while the price per square foot went up 27.4%, ending 2014 at $914/sq ft. 79% of condos sold in Mission Dolores were 2 bedrooms.
NO E VALLEY Coveted for its tree lined streets, jaw dropping views and proximity to 24th and Church Streets as well as its access to public transportation and the Peninsula, NOE VALLEY continues to be one of the most coveted neighborhoods in San Francisco. Known for its small town, community feel, secret sauce of friendly people and casual but elegant living, Noe Valley is at the top of many people’s ‘dream neighborhood’ lists. It's also quickly becoming the most interesting neighborhood in SF for modern, architecturally significant houses.
HOUSE
1021 12 % 20 %
$
2 BED
$
3 BED
$
$ $
941 15 % 27.2 % $
1 456 000
PR I C E PER SQ FT AVERAGE % OVER ASKING PRICE ME DI A N SA LES P RICE I NC R E AS E 2013–14
AV E RA G E P RICE FOR A H O ME I N 2014
1 131 000 $ 1 495 000 $
2 BED
2 008 000 $ 3 213 000
4 BED
2 0 1 4 STATS
CONDO
S I N G L E FAM I LY
3 BED
2 012
20 13
20 14
2012
2013
2014
147
136
125
104
91
85
1 475 000 1 400 000 $
768 44 4%
$ $
1 879 000 1 700 000 $
926 35 8%
$ $
2 295 000 2 040 000 $
1021 25 12 %
$
1 001 000 $ 924 000 $
699 39 5%
$ $
1 059 000 1 002 000 $
805 33 11 %
1 266 000 $ 1 275 000
$
$
NU MB E R OF SA LES AV E RA G E SA LES P RICE ME DI A N SA LES P RICE
941 26
PR I C E PER SQ FT
15 %
AV G % OVER ASKIN G P RICE
AV E RA G E DAYS ON M A RKET
T H E R E W E R E 125 houses and 85 condos sold this year. In
55% OF HOUSES SOLD in the $1.5–2.5M dollar range
2014, the average price per square foot for single family homes crept above $1K, up 10.2% from 2013. The median price for a house surpassed the $2M mark to land at $2,295,000. Condos in Noe Valley also had a year of huge growth, with the median sales price increasing 27.2% to $1,275,000 and the price per square foot going up 16.9% to $941/sq ft. If this trend continues at even half this growth, the average price per square foot would be over $1,000/sq ft by 2016.
while 69% of condos sold for between $1–1.75M. The high end market for single family homes also took off this year. In 2013, there were 10 home sales over $3 million, which almost doubled this year to 19 and on the super high end, there were 7 house sales between $4–7 million. The most expensive condos were super stylish, free standing properties sharing a lot with another home.
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T W I N PEAKS TWIN PEAKS, perched above the city, is enjoyed for being a peaceful neighborhood with some of the very best views in the city, access to downtown and both of the popular Noe and Castro neighborhoods. The added bonus is very strong legs.
2014 STATS
HO US E
$
PRICE PE R SQ F T AVERAGE % OVER ASKING PRICE M EDIAN SALES PRIC E I N CRE ASE 2013–14
AVERAGE PRICE FOR A HO ME IN 2014
$
1 270 000
3 BED
$
1 497 000 —
$
M EDIAN SALES PRIC E
$
3 BED
2014
2012
2013
20 1 4
6
12
5
24
31
20
805 000 829 000 608 67
AV G % OVER ASKING PRIC E
1%
$
$ $
1 376 000 1 400 000 $
799 39 6%
IT IS COMPRISED OF mostly condos, with some lovely single family homes, and continues to be one of the more affordable, closer in areas to buy in the city, especially in the 2 bedroom condo range, where the average was $776,000. In 2014, there were just 5 houses and 20 condo sales. The price per square foot of houses increased 21.4% to $970, helped by a few smaller 1,000 sq ft homes selling for about $1,200/sq ft.
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776 000 $ 1 280 000 $
2 BED
2013
AV ERA GE DAYS ON MARK E T
PRICE PE R SQ F T
734 5% 30.2 % $
20 12 N U MBE R OF SAL ES AVERAGE SALES PRIC E
970 7% 0%
2 BED 4 BED
CONDO
S I N GLE FA MILY
$ $
1 652 000 1 400 000 $
970 33 7%
$ $
818 000 680 000 $
536 83 0%
679 000 $ 675 000
$
$
$ $
969 000 879 000
645 70 4%
$
734 30 5%
60% OF HOUSES SOLD for $1.25–1.5M, with 812 Corbett selling considerably above other houses at $2.5M. The median price of condos went up a whopping 30.2%, to land at $879,000. Price per square foot also went up 13.8% to $734. The average price for a 3 bedroom condo was $1,280,000 and an average of a very spacious 2,081 sq ft. 45% of condos that sold in 2014 were under $850,000.
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