Real Data SF

At long last, here’s the promised data on Noe Valley condos and TIC’s.
First, a look back (in anger?) at the make-up of Noe Valley sales in 2009.

Note that there were more than twice as many condos sold as TICs, and more homes sold than condos and TICs put together. (What’s a TIC?  — Check out [...]

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Pretty much everything I said about how single family homes fared in 2009 also applies to the condo/TIC market.   (TIC’s, aka Tenancy In Commons are similar to condos.  For more information on TICs, see my three-part series starting here.)
Condo/TICs hit their all-time highs about a year later than homes did — in July 2008.  But [...]

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Last post, we determined that the current difference between the average (annual) price of a condo and that of a TIC is  $86,000, down from a high of $124,364 in 2006.  (That’s a 30%+ drop, by the way.)  Here’s the chart again (sorry for the funky transparency on the sales volume bars).

That’s useful if you’re [...]

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There are weeks when I look through the new listings on the MLS (Multiple Listing Service) and it seems like there are more TICs for sale than condominiums.  Turns out, this just isn’t true.  Here’s a chart showing relative sales volumes since 2003 (click to enlarge).

Look at that!  Excluding those wonderfully regular dips every Xmas, [...]

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Inconvenient and Ugly
A tic is an involuntary and habitual muscle spasm, frequently in the face.  If you live in San Francisco, a TIC is also what many people end up with when they buy a flat in one of San Francisco’s classic 2-4 unit buildings.  Like the medical condition, TICs are inconvenient at best and [...]

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Recently, I blogged about the fact that condominiums seemed to be holding up better than single family homes in terms of their decline from their all-time highs.
At the same time, I noted that there was only about $100,000 difference in median value between condos and homes.  That seemed like a small delta and I was [...]

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For the quarter century (gulp!) that I’ve been involved in real estate, the conventional wisdom has always been that condo values generally do worse in down markets than homes.  Why?  To be honest, I’m not sure, but I think it’s because it’s easier to overbuild the condo market than the single family home market.  It [...]

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