District 5

May 2016 Central San Francisco Market Conditions

District 5

District 5’s (See SF Districts Map Here) April numbers continue their strong upwards trend with their highest ever median sales price of $2,287,500. Year-over-year, the median price is up 8.9%.

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Resale Condo/Loft Median Prices

Resale condo-loft median prices have resumed the downward trend that started last September with a brief uptick in January and February. hey dropped 2.3% from March to April, landing at $1,245,000, which is the lowest median sales price since April 2015. They are down 0.4% year-to-date and 9.6% since their peak at $1,377,000 September 2015.

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While Single Family Homes Days on Market inched up to 17 in April, they are still at historically low numbers.

Days on Market for Resale Condo/Lofts dropped from 19 to 16.

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Single Family Homes Months Supply of Inventory dropped slightly to 2.4 from March’s 2.5 and up from April, 2015’s 1.7.

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This April there were the same number of single family home listings as in April, 2015. Over all, there have been 136 new listings in District 5 this year, one fewer than last year.

There have been 43 fewer condo/loft listings brought on the market year-to-date in 2016 than 2015. This is a 26% drop. And this is the first time in four years that the number of new condo/loft listings was lower in April than March.

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62 Buena Vista Terrace: Yard

“As a broker myself, I know quality when I see it”

Thank you to my wonderful client that has taken the time to share a few thoughts about recently working with me:

“Loved Alex. Can’t say it any other way. Never have I dealt with an agent who represented me with such a level of honesty and transparency. He gave me the time that I needed and we closed in record time. As a broker myself, I know quality when I see it. The house is everything and more — incredibly happy.” – Daniele

More Testimonials
Recent Transactions

Spacious View Home

SOLD (In 3 Days) | 62 Buena Vista Terrace

We accepted offers on Monday, we closed yesterday…that’s a three day close. Remarkable, to say the least. Congratulations to my clients, and thank you all for an incredibly smooth transaction. I wish they all went like this.

Listed $1,295,000, SOLD $1,500,000. Property details below:

Located on an elegant street in San Francisco’s Buena Vista Park District, one of San Francisco’s most coveted neighborhoods, 62 Buena Vista Terrace affords you the ability to immerse yourself in all this city has to offer, yet escape from it too.


Walking distance to Duboce Triangle, the Castro, Haight, Hayes Valley, Upper Market, Mission Dolores, Alamo Square, Buena Vista Park, Duboce Park, and NOPA, this luxury residence is truly in the heart of the city, and truly awesome…yes awesome.

Top floor condominium in a small 2-unit building, 62 Buena Vista Terrace has 2 + bedrooms, 1 bath, 1 car parking, views, formal dining room, living room, beautiful bamboo flooring throughout, new double paned windows, tons of natural light, two fireplaces, exclusive deeded deck off of kitchen, beautiful lush garden, in unit Washer & Dryer, tons of extra storage, and plentiful closet space.

The designer kitchen is a chef or entertainer’s dream, complete with granite countertops, Viking Range, Amana refrigerator, custom cabinets, island with Carrera marble countertop, under cabinet LED lighting, microwave, Miele Dishwasher, and an extra room off the kitchen perfect for morning coffee or evening cocktail preparation (could be a great breakfast nook too). Trust me when I say your friends will envy you here.

The unit is approximately 1353 square feet (per tax records), HOA dues are $300/month.

Property Summary:
-Buena Vista Park Top Floor Condominium
-Address: 62 Buena Vista Terrace
-2 bedrooms
-Bonus room/office
-1 bath
-1 parking
-1353 Square feet (per tax records)
-$300/mo HOAs
-Bamboo Flooring
-New Windows
-Formal Dining Room
-Living Room
-Deck
-Yard
-Views
-W&D
-Storage
-Designer Kitchen
-Breakfast nook/office
-$1,295,000
-Boom!

This one went fast. Contact me for further details or to talk about selling your property.
Alex Clark
415-254-5351
alexclark@gmail.com

62 Buena Vista Terrace: Designer Kitchen

For Sale | 62 Buena Vista Terrace, San Francisco

Located on an elegant street in San Francisco’s Buena Vista Park District, one of San Francisco’s most coveted neighborhoods, 62 Buena Vista Terrace affords you the ability to immerse yourself in all this city has to offer, yet escape from it too. And you, dear reader, get first crack at it.


Walking distance to Duboce Triangle, the Castro, Haight, Hayes Valley, Upper Market, Mission Dolores, Alamo Square, Buena Vista Park, Duboce Park, and NOPA, this luxury residence is truly in the heart of the city, and truly awesome…yes awesome.

Top floor condominium in a small 2-unit building, 62 Buena Vista Terrace has 2 + bedrooms, 1 bath, 1 car parking, views, formal dining room, living room, beautiful bamboo flooring throughout, new double paned windows, tons of natural light, two fireplaces, exclusive deeded deck off of kitchen, beautiful lush garden, in unit Washer & Dryer, tons of extra storage, and plentiful closet space.

The designer kitchen is a chef or entertainer’s dream, complete with granite countertops, Viking Range, Amana refrigerator, custom cabinets, island with Carrera marble countertop, under cabinet LED lighting, microwave, Miele Dishwasher, and an extra room off the kitchen perfect for morning coffee or evening cocktail preparation (could be a great breakfast nook too). Trust me when I say your friends will envy you here.

The unit is approximately 1353 square feet (per tax records), HOA dues are $300/month, and we’ll be listing it for sale at $1,295,000.

Property Summary:
MLS Listing Information
-Buena Vista Park Top Floor Condominium
-Address: 62 Buena Vista Terrace
-2 bedrooms
-Bonus room/office
-1 bath
-1 parking
-1353 Square feet (per tax records)
-$300/mo HOAs
-Bamboo Flooring
-New Windows
-Formal Dining Room
-Living Room
-Deck
-Yard
-Views
-W&D
-Storage
-Designer Kitchen
-Breakfast nook/office
-$1,295,000
-Boom!

Showing Schedule:
-Saturday 10/25 2-4pm
-Sunday 10/26 1-4pm
-Tuesday 10/28 12-1:30pm
-Thursday 10/30 5-7pm (Twilight)
-Sunday 11/2 1-4pm
-Private showings by appointment

Other important information:
-Full disclosure package, including pest/contractor inspection available
-Offers, if any, reviewed Monday 11/3 by 12pm

Slideshow:

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Don’t delay. This one is gonna go fast. Contact me for further details or to schedule a showing.
Alex Clark
415-254-5351
alexclark@gmail.com

But It’s A Buyer’s Market

Any of you see this article on Yahoo! about US Cities Where Homes Sell The Fastest?

Gather ’round…I have a story for you.

Yesterday, on behalf of my clients, I presented a full asking price, ALL CASH (that’s $1,350,000 George Washingtons), two week to close, sellers may “rent-back” ’til November offer on 49 Alma Street in Cole Valley. This is a home that was listed late 2010 for $1,475,000 and withdrawn in January of 2011.


…and our offer was not enough! We were one of FIVE offers!

We expected multiple offers, but here is the kicker – four of the five offers were also all cash! Are you kidding me!? Hang on…it gets better. Our offer was almost the lowest in price. One other offer below us. The winning offer had zero contingencies. That’s all cash, significantly over asking, no contingencies, two weeks til the seller gets their coin…Is it 2003-2005 all over again? WTF!

I know the details of the other offers, but for the sake of the lucky and thrilled seller, and the lucky and thrilled buyer, some things in a transaction are better not to publish until it closes and cash and keys are transferred. Job well done by listing and selling agent combined, and the buyer for blowing our minds.

Okay, I have another anecdotal bit of story for you.

Seven Divisadero hit the market a couple of weeks ago. Barely two or three days on the market…Bam! In contract, all showings canceled.

You cancel showings when you have an extremely good offer that you’re not afraid is going to fall apart. My guess is another all cash offer over asking with one simple inspection contingency.

That leaves several all cash buyers with over $1,000,000 to burn still out there looking.

But it’s supposed to be a buyer’s market…right?

US Cities Where Homes Sell The Fastest
Battle Royale: Cole Valley Versus Noe Valley [theFrontSteps]
Multi Millions On A Monday [theFrontSteps]
49 Alma Street [Property Website and Photo Credit]
7 Divisadero [Property Website and Photo Credit]

You Can Buy Her Sister Too…Oops, Too Late

A couple of weeks ago we were thrilled to see 457 Buena Vista Avenue East go into contract after a short spell on MLS (asking $2,329,000), and how could you blame the buyer…the place is awesome! However, we felt a little bad as we were told 457 “can be purchased with sister property 459 Buena Vista Avenue East“.



As pretty as she is, this poor sister was left hanging and we wondered if someone would come along and rescue her. Granted, she’s a bit more of an expensive date, asking $2,389,000. Well…she found Mr. (and maybe Mrs.) Right. She’s in contract as of today, and dammit if she isn’t just as pretty as her sister, but with more to offer up top (focus boys!):

Congrats to the agents and buyers. What a fantastic property in a great location. We’re very jealous.

Hi Res, Picture Gallery of 459 [agent website]
457 Buena Vista Avenue East, $2,329,000 [MLS]
459 Buena Vista Avenue East, $2,389,000 [MLS]

Ask Us: 24 Buena Vista Terrace, Damn That Asterisk

Where readers ask and we (the community) try to answer.

Hi TFS-

First…I wanted to say that I enjoy your blog…keep up the interesting stuff. I live by 24 Buena Vista Terrace and noticed that it sold recently. I remember walking through the house back in 2006 when it last sold after it was completely remodeled. I thought it might be an interesting “apple” in my neck of the woods. I think it recently sold for around $3.4M (though not totally sure)…not sure what it sold for back in 2006, though.

Got any good (or bad) info?

Thanks,
D

24bvterrace

Although we’d like to spin this into a recent market success story, there is that damn little asterisk (*) that won’t let us in on the price scoop. We can really only confirm that which you have already said. Back in 2006 24 Buena Vista Terrace, in the Buena Vista Park district, did, in fact, sell for around $2,995,000 * (damn little asterisk ruining all our fun). It was indeed completely remodeled at that time and doesn’t appear to have had much work done this time around in 2008. It was recently originally listed for $3,595,000, price reduced to and sold around $3,395,000 * (damn that asterisk). It spent 95 days on the market, and we did not have the chance to go check it out this time around, so we’re hoping someone else has.

Thanks for the question/tip. Keep them coming, and thanks for hanging out on theFrontSteps. Sorry we couldn’t be of more help directly, but maybe some readers can.

[The asterisk is used in MLS and is placed next to a sales price to inform us that price and terms were not disclosed by seller and/or buyer.]

Reader Reports: Eddy! steps it up again!

Nice Listing on Buena Vista

I’m not 100% sure if this is a TIC or a Condo — shame it’s not a [Single Family Home] at 4000 sq ft — but I really like this place. Clean, right across from the park and BIG. Not bad for $2.95M.

Eddy!’s favorite part, the agent remarks. [They are quite good (read: over the top), we must admit.]

147 Buena Vista embodies a level of sophistication & elegance that is encapsulated in its early 1900’s architecture & a more modern 2008 rebirth. The era has not been lost & continues to evoke a moment when San Francisco was coming of age & setting the stage to become the Paris of the Pacific. This classic Queen Anne has been melded with vogue design – a successful integration of design and historical elements define & underscore the grand scale that is so prevelant throughout.

147 Buena Vista Ave [MLS]

Nice Listing on Buena Vista [theFrontSteps.ORG, social network]