By Arrian Binnings:
Heyyy mannn, what’s going on with your investment, mannn?
Well let’s find out. We looked at condo sales prices in the nabe (Haight Ashbury) from 1995 to present, capping each year at October 29th. Condos are by and large the most popular property type in the area. We tried the same analysis for single family homes but there just weren’t enough data points to be reliable. So what’s groovin’?
Far out! Looks like…condos in the nabe have performed very well over the long haul. A little dip this year, but overall, solid growth. Actually, this chart looks strikingly similar to one we published the other day for Pacific Heights… perhaps even more stable.
The more we run these microanalyses, the more we are surprised that San Francisco’s resilience is not just some amorphous idea… that it really is weathering the tough times well. The proof is in the numbers. Could there be a lag? Could it go down anyway? The answer to these questions is of course, yes, anything is possible. But we feel that property values and sales prices remain propped up due to San Francisco’s desirability as a city to live in coupled with its scarce inventory levels (at least in certain neighborhoods).