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San Francisco’s most expensive neighborhood? In 2010, Pacific Heights beat out Sea Cliff by a long shot with a median price home costing a cool $3.5 million. (And after witnessing the tsunami in Japan, people may be willing to … Continue reading
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The median price of a single family home in Noe Valley in 2010 was $1,221,500. The median price of a condo or TIC was substantially less, at $768,000. Total sales for the year were 233 units, divided evenly between homes … Continue reading
Author: Jack French -- Used under Creative Commons Permission 2.0
After nearly two years of sharp declines, Noe Valley single family home prices recovered smartly in 2010. Not enough, however, for anyone to claim that Noe Valley is somehow immune from market forces affecting the rest of San Francisco. As of December 2010, Noe Valley home prices were still down 20% from their all-time highs, almost exactly the same as prices for homes city-wide.
Here’s the chart (double click): Continue reading “Noe Valley Back Smartly in 2010” »
Tags: 2010, Charts, first republic bank, luxury homes, Noe Valley
In my last post, I included a chart that showed both single family homes and condos stuck in relatively narrow price ranges over the last 18 months or so. At the end of 2010 the median price of a single family home ($744,000) was about $80,000 more than that for a condo/TIC.
But that doesn’t tell us anything about “value.” Now, let me count the ways we could argue about what “value” means, but I think we’d agree that how each property type has weathered the market battering over the last few years has to be relevant. Take a look at this table: Continue reading “What’s A Better Value in San Francisco, A Condo or a Home? (Part 2)” »
Tags: 2010, condominium, home premium, single family homes, value
Real estate lore holds that if the market for single-family homes is doing badly, the condominium market will be doing worse. But what about San Francisco, which is the textbook case of a supply-constrained market with high barriers to entry?
Continue reading “What’s a Better Value in San Francisco, A Condo or a Home? (Part 1)” »
Tags: 2010, condominium, home premium, single family homes, TICs
Given the amount of bad news coming out of the housing market these days, you’d think that San Francisco condo and TIC owners would be celebrating the fact that values increased 4.5% in 2010.
If no one feels like popping corks, it may be because prices have been stuck in a narrow range since they hit their post-bubble bottom two years ago. Take a look (click to enlarge):
Avid readers of this blog will recall that I hastily pulled my last attempt to post on this subject because of some errors in the data. Horrors. The errors caused 2010 to look like a much stronger year in terms of price increases for single family homes.
Whether that would have been good news or bad depends, of course, on whether you’re trying to buy or sell. As it is, 2010 ended up being a wash from either perspective. Here’s the chart (click to enlarge:
Continue reading “The 2010 Residential Wrap-Up: What’s goin’ on? Not much.” »
Tags: construction, interest rates, Market, median price, Noe Valley, single familyA belated Happy New Year everyone. One of my new year’s resolutions is to blog more frequently. I love blogging about real estate! I just need to get faster at it. This can be a challenge if you care about getting the facts right. For example, I just spent about 4 hours over 2 days unearthing a discrepancy between my 2010 data on San Francisco home sales and the data provided by my generally excellent real estate feed, which you can find under the Market Trends tab. Turns out they’d incorrectly included sales from the northern part of San Mateo County, which resulted in a much lower median home sales price for 2010 and a very inaccurate read on what had happened in the SF Market over the last year. My next blog will cover those results.
Meanwhile, here is the best “rent vs. buy” calculator that I’ve seen, courtesy of the NY Times. A lot of the calculators out there are either too simple or too complex. This one hits the right balance and wraps it all up with a nice graphic. Here’s a screenshot. Continue reading “Rent or Buy: The Best Calculator” »
Tags: calculator, New York Times, rent vs buy
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Say you want to spend around a million bucks to buy a house. Wouldn’t it be useful to know how much houses typically go for per square foot in that price range? Then you could take the square footage of … Continue reading
Courtesy of my gentle reader, JC, a moment of levity (click to enlarge):
As an Aussie born and bred, I take umbrage at my homeland being represented by a beer as mediocre as Fosters, but at least we’re on the map.
Thanks JC!
Tags: San Francisco