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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179 Carl Designer Bathroom Featured in California Home & Design

SOLD | 179 Carl | Cole Valley Victorian | $3,200,000

I’m pleased to report the sale of this amazing property, which we were able to get featured not only on SFGate (Cole Valley Queen Anne with fabulous wallpaper for $2.695), but also Curbed (Queen Anne Done Up in Designer Style Looks for $2.695), and possibly even in San Francisco Cottages & Gardens just closed today for a whopping $505,000 over list price at $3,200,000. Considering we were targeting a $2.9-$3M sale, I’d consider this knocked out of the park.

Congratulations to my wonderful clients on an extraordinary Cole Valley sale, as well as to the buyers who are sure to love this amazing home in an epic location.

Property Details:

UpperTerrace

Exquisite Modern View Home in Ashbury Heights – Not On MLS

This is one for the ages. Situated on the tippy-top of Ashbury Heights on Upper Terrace, this home is amazing (especially the 1 bed apartment on the top floor that will make any view aficionado envious), it’s high end modern luxury to the 9’s, the views are tremendous (Fog be damned), and you should buy it…off market.

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Priced at $3,800,000, and available for immediate purchase. There are no interior pictures that do it justice, so let’s get you in before it goes to MLS, and you lose out.

Property Details:

This beautiful home has been meticulously remodeled with discriminating attention to detail. The home features an open floor plan and dramatic floor to ceiling windows on each level to enjoy the sweeping views from the Golden Gate Bridge to Mt. Tam.

4 bed plus office (all with views) / 4.5 bath including a fabulous, separate 1 bedroom guest apartment
Custom stucco façade with metal awning
Custom glass and steel front door
Gas Fireplace in living room
Bonelli and Fleetwood windows with automatic shades/window coverings
Folger & Burt Architectural Hardware (door handles and pulls)
Heath Ceramic Tile
Boffi sinks and fixtures
Hickory pecan flooring
Lutron lighting
Custom built-ins
Nest thermostats
Sonos audio system throughout
Terraced and landscaped yard
1 car garage, 1 car parking pad
Approximately 2747 (per architect)

Contact Alexander Clark, KW Luxury Homes International for private showing.
415-254-5351

 

listed by Carrie Goodman, Lisa Miller Sotheby’s

Cole Valley Property Gets 30 Offers

135parnassus
Because one offer isn’t enough, 135 Parnassus (a teeny – tiny 1192 sqft, 2 bed, 1 bath condo) in the heart center of Cole Valley, just blew the roof off of reality. Sure, priced crazy low at $799,000 (actually, I would have priced it similarly because it did have some issues), but still…30 offers? Come on!
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I do know roughly where this will sell, but have been asked not to share pricing info, so check back, contact me, or better yet – get on my list to receive real time sold property reports to your inbox every other Friday. (Sign up at sfnewsletter.com and get “The Goods”.)

The agent kindly informed me, “We also have a solid backup offer”, and my response, “You actually have 29.” Ahhh…to be a seller in San Francisco.

And didn’t I just report the market might be cooling…sort of?

Wowza.

135 Parnassus – Cole Valley [Property Detail]
San Francisco Real Estate Market Cools (sort of) [sfnewsletter]
Real Time Neighborhood Sold Property Reports via Inbox [sfnewsletter]
Agents, Send The Goods To Your Clients [www.theGoods-sf.com]

Sold | Off Market In Cole Valley – 1242 Cole

giants_world_series Giants win the World Series, yet again, it’s Halloween, and my clients just stole this amazing condominium in the heart center of Cole Valley! The essence of what we just witnessed in the World Series is not much different from the Real Estate game in San Francisco. It takes a great team, strategy, timing, focus, and of course a little luck to win. I’m happy to say all the elements came together for my buyers and we knocked this purchase out of the park on the first pitch. My clients knew it was a great opportunity, took my advice, didn’t hesitate, and scored! Congratulations Elizabeth and Andrew. Ya done good.

Not only is October great for baseball, Halloween, and our Indian Summers, but this October has been my most memorable month of this year. With 6 deals closing this month, this one in Cole Valley was the icing on the cake. I have another deal in contract in Cole Valley, and know of a couple great listings off market and coming soon, so don’t be a stranger if you’re looking in Cole Valley for a home.

This score proves that there are opportunities out there without overpaying, but you have to be aggressive and know where to look.

An average condominium in Cole Valley sells for $941 per square foot, according to my third quarter report, and we grabbed this sweet 3-bedroom, 1 bath home with parking, yard, amazing period details, an awesome kitchen, some rugs, and some great furniture at $886 per square foot before it hit the market at $1,300,000.

For you buyers out there, it’s a crazy market, but don’t get discouraged. You can win.

Alex Clark
Paragon Real Estate Group
415-254-5351
alexclark@gmail.com

Happy Halloween! Giants Baby! Pray for Snow!

Go Giants!

San Francisco Real Estate Third Quarter Report

San Francisco House & Condo Values
Which Neighborhoods Dominate Home Sales?
Who Is Buying the City’s Luxury Condos and Why?

September saw the largest surge of new listings coming on market in the past 2 years, which led to a big jump in deal-making, but data on transactions negotiated in September won’t be available until most close escrow in October and early November. In the meantime, we’ll look at the last 2 quarters.

Median Sales Prices & Average Dollar per Square Foot
The following 2 charts look at current and longer-term trends in home values. As is common, median house sales prices dropped a bit in the 3rd quarter – this is due mostly to seasonality issues – though condos have held steady for 3 quarters now at $950,000. Dollar per square foot values have continued to increase to new peaks: This metric is particularly being impacted by new-development condo sales, which are breaking dollar per square foot records virtually everyplace they’re being built.

If you wish to drill down on values in very specific city neighborhoods, we recently updated our interactive map, which can be found here: SF Home Price Map

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Where Home Sales Occur at What Prices

Spacious Edwardian Condominium

Just Sold: 29 Rivoli, Cole Valley: List $1,395,000 Sold $1,575,000

I am pleased to announce the successful sale of this wonderful, luxury, view residence at 29 Rivoli, in San Francisco’s Cole Valley neighborhood.


After an unsuccessful marketing effort with a different agent, the owners put their trust in me to get the job done, and I was able to garner multiple offers, get to a sales price that was suitable to buyer and seller ($180,000 over asking), and secure a quick close. Buyer is thrilled. Seller is thrilled. All is good on Rivoli!

For more details about this transaction, others in Cole Valley, or San Francisco generally, you should know where to find me by now. (Hint: alexclark@gmail.com, or 415-254-5351)
Have a look at what other clients are saying about me. For more about this property, read below…

Spacious Edwardian Condominium

For Sale: 29 Rivoli, Top Floor Edwardian View Condo In Cole Valley On A Quiet Tree Lined Street


I have this fabulously luxurious top floor, 3 bed, 2 bath Edwardian condominium with amazing panoramic views to the North from the living area and South from the bedrooms, on a quiet tree lined street in Cole Valley, coming on the market this Friday 9/12, and you get the first look.

The home features gorgeous hardwood floors, a spacious, bright and open formal living room (wired for surround sound) with a fireplace. Formal dining room with period details, built-in cabinets and box-beam ceiling. Walk through the Butler’s pantry into your bright, open and large designer kitchen with Caesarstone countertops, custom cabinets, skylight, extra storage and A+ appliances. Both bathrooms have been remodeled by Waterworks and feature all of today’s amenities. Laundry room has side by side washer & dryer, and floor to ceiling cabinets. The entire condo has refinished floors, new carpet, and new paint. It also comes with one car parking, a shared yard, and did I mention views, views, views. Because the property is completely separated from other structures on all sides, the home is incredibly bright…a rarity in San Francisco.

Soar above Cole Valley in this truly remarkable property you don’t want to miss.

List price $1,395,000
Open House Schedule:
Sunday 9/14 2-4pm
Tuesday 9/16 12-1:30pm
Thursday 9/18 5-7pm
Sunday 9/21 2-4pm
Private showings available

For more information about this property or any others, please contact me (alexclark@gmail.com / 415-254-5351), and to learn more about Cole Valley, in general, check out all the great stuff I’ve shared!

Before Google Street View, I did a Tour de San Francisco. And here’s what I did for Cole Valley.

More Listings [theFrontSteps]

Five White-Hot Districts In A Red-Hot San Francisco Real Estate Market

July 2013 Special Report

Virtually every area of San Francisco and the Bay Area has been experiencing dramatic home-value appreciation in the past 12 to 18 months. Some that were hard hit by distressed property sales, which experienced the largest price declines, have surged in price but remain 20% – 30% below previous peak values reached in 2006 – 2008. As a state, California is still about 25% below its 2007 pre-crash median home price. And in San Francisco itself, many if not most neighborhoods now appear to have re-attained or moved slightly beyond previous high points.

But in this past quarter, a handful of neighborhoods and districts in the city have leapt well beyond the highest average home values achieved in the past. Interestingly, comparing these white-hot areas with one another, there are often huge differences in property type, era and style of construction, and neighborhood culture or ambiance. But all of them have been very affected by affluent – often newly affluent – high-tech professionals of one age group and level of affluence or another. Naturally, these neighborhoods are highly desired by other buyers too – often professionals in finance, bio-tech, medicine and law – but the high-tech-buyer dynamic has generally super-charged these markets in particular.

However, please note that the difference we’re talking about between these neighborhoods and the rest of the city is between white hot and red hot: Quite honestly, they’re all very hot markets right now.

The Inner Mission 

Super hot, super hip, generally young: this neighborhood has seen very dramatic changes since the early nineties as a classic process of gentrification occurred — changes which have recently accelerated. Houses here are often large, classic Victorians, while the condos are mostly modern, built within the last decade or so. This area has a large, vibrant and diverse commercial district centered around Mission and Valencia Streets, but is still close to Noe Valley and the Castro. This chart focuses on the condo market, in which values are approximately 15% above the previous peak.

Noe Valley – Eureka Valley (Castro) – Dolores Heights 

These neighborhoods are part of a district that includes Cole Valley, Ashbury Heights, Clarendon & Corona Heights, Duboce Triangle, Mission Dolores and Glen Park, all of which have seen enormous recent appreciation. Housing here is typically older, built in the first 4 decades of the last century; there are many parks for kids and pets; the streets are tree-lined and the ambiance of the neighborhoods is relaxed and family friendly. This district surged in popularity and price in the mid-late nineties, was one of the last to peak in value in 2008, and has been at the forefront of the market rebound which started early here, in 2011. Among other advantages, it has relatively easy access to highways south to Silicon Valley. The district also has a large condo market, but this chart focuses on house values.

South Beach & Yerba Buena 

After the Embarcadero freeway came down in 1991 and then AT&T Park built in 2000, this area changed from a place for B-class offices and car stereo installations to the home of some of the most dramatic and expensive condo and loft buildings in the country. More condos are now sold here than anyplace else in the city and high-floor units with staggering views often sell for millions of dollars – one sold for $28 million. It’s popular with a number of demographics – high-tech and bio-tech workers working in offices nearby in SoMa and Mission Bay, financial district professionals, and empty-nesters who want to enjoy city life and have all the amenities, but without the responsibility of maintaining a house. Affluent foreign buyers are also a significant segment. Its neighborhood ambiance is very urban. This chart is for condos below the price of $1,800,000, but the dynamic for ultra-luxury condos is also white hot, with an average dollar per square foot value of over $1200.

Bernal Heights 

Like Noe Valley and Glen Park, Bernal Heights was originally a blue-collar neighborhood filled with Victorian houses. Noe Valley soared in value first, becoming wildly popular, and now people who want a similar family-friendly neighborhood ambiance, but at a more affordable cost, have increasingly turned to Bernal Heights. It also has easy access to highways south to the peninsula.

 

Hayes Valley-North of Panhandle (NoPa)-Alamo Square

This condo market is made up of two totally different types: Edwardian flats that have been turned into condos and brand new, ultra-modern condo developments. The Hayes Valley commercial district is very hot and hip, similar to, but still different from the Mission’s Valencia Street. Buyers who are priced out of the nearby Cole Valley-Haight Ashbury condo market often look here for a similar neighborhood ambiance at lower cost. Hayes Valley is also close to the Civic Center cultural cluster of museum, opera, symphony, ballet and other performing arts, which appeals to another buyer demographic as well.

To put all of these charts into one simple suggestion: It’s a great time to sell your property in San Francisco, and our market desperately needs the inventory!

If you have questions or would like information regarding a neighborhood not listed above, please contact us.