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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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

137 Buelah Apple: Don’t Haight the Game….

[Written by “Eddy”:]

One thirty seven Buelah is one of those homes that just screams San Francisco charm and it has all the makings for what many families are looking for in a home here in the city (e.g., curb appeal, close to shopping, parking, etc.)
It’s no wonder that this property closed escrow back in 2006 in only 26 days and over asking at $1.59M.   It’s a little more surprising, however, to see that this same home just closed escrow in 2011, again for over asking, and in only 33 days for $1.61M.  It goes without saying that buying a good property with highly desirable features is a good strategy. This is a classic example of a well appointed home, commanding tons of interest, and getting a good price in two different real estate markets (2006 & 2011).

A few more pics after the jump:

Inner-Sunset Sprouting Condos

Inner-Sunset, home to much good food, a few good bars, a few bad bars, the prohibitively expensive Andronico’s, and UCSF, will soon be home to new condos. On my block alone (9th Ave., past Moraga St.) there are two sites going up or planned to go up. One is adjacent to my deck, where I once saw the Bay, and now see the back of someone’s bedroom to be. I have no idea if this very tall building will be apartments for rent or condos for sale, but it will have several units, a garage, and a penthouse. On the other side of the street, where a long defunt Moraga Market has been little more than place to try out graffiti tags and dump unwanted sofas, construction is also in the works. The lot has sold, a hearing has taken place. All that’s left is to break ground.

Finally, quite done are the condos on 7th Ave., near Irving St. The photo above is from before the facades were placed. Now they are gorgeous Art Deco looking things with burnished copper and huge windows. The agent, Gary Small of Zephyr, tells me that the units are luxury one and two bedroom condos with underground parking, and that the two free-standing cottages that stood in a lot behind the building that sits on the street have been revamped. Some lucky millionare can thus own a little house all his or her own!

It’s the most action the Inner-Sunset has seen since a bunch of drunks from the Mucky Duck tried to scale a MUNI train. Sadly for we middle income buyers, the luxury condo lable means these new homes, exciting though they are, will not be ours.

Oh well. Drinking at the Mucky Duck is always an alternative.

PHOTO: Socketsite

From $2.2 To $1.995, To $1.895, To $1.795, To $1.775 To SOLD At $1.7 (34 Ashbury Terrace)

We keep trying to tell you, but some of you just don’t listen…it’s a great time to be a buyer.

Take for example this 3 bed, 2.5 bath, 2200 square foot single family home at 34 Ashbury Terrace.

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Last sold in December of 2002 for $1,400,000 (not overbid btw), this home recently hit the market in September for $2,200,000. After languishing on the market for what must have felt like an eternity, and the agent and seller having a coming to Jesus about the new state of the market (happens to us all the time these days), the price was chopped, and chopped again (from $2.2, to $1.995, to $1.895, to $1.795, to $1.775). Low and behold it has finally sold. Selling price $1,700,000. A steal by all accounts. Victory for the buyer, victory for the seller, and we’d love to come set up a telescope to check those views.

34 Ashbury Terrace [MLS]

A Worse Punishment for Sisyphus: Policing Noise in a Metropolis

Hello out there, theFrontStep Readers! You may (or just as likely, may not) know my name from my blogs for Redfin. I’ve kindly been invited to write also for theFrontSteps, so here I am, on the steps, with my first blog.

So here’s the setting: last night, 2:00am, sultry night, people walking up from the bars, falling down, giggling. That noise doesn’t bother me much. I’d have to be a hypocrite if I tried to pretend I’ve never, after closing time, made too much noise under someone’s window as I staggered home. But another noise does bother me: some a-hole flooring his car and slamming on the breaks as he reaches the stop sign in front of my house. Then, from fully stationary, he floods the car again, tyring to go from zero to sixty instantaneously. Then he screeches off, circles the block, and comes back to do it again.

But we all live in a city. We can’t really expect quiet, can we? We can hope for it, and maybe in some areas, get it most of the time. But in the end, we’re sharing with a lot of people, some of them loud and possibly crazy. That’s why this new law aiming to curb SF noise interests me.

New Realtor “tactics”, a dog, a quote, and no contact info? (1445 Cole)

From a reader:

Hi guys,

Have you seen this listing?

www.1445cole.com

I live a block away, and got a little invitation in my mailbox for a “private viewing” complete with wine and snacks, [five days ago]. I couldn’t go, so I haven’t seen the property, but I thought this was definitely a new tactic–esp. in this neighborhood. Thought you might be interested.

We’re always interested in what you (the readers) have to say, so keep sending those tips.

We do however, have some questions regarding the property website:

1) What’s up with the dog?

2) Can a Gustav Stickley quote help sell a home?

3) Where’s the agent contact info on the site (please, please, please correct us if we’ve overlooked it)?

That’s all for now…okay, one more…how about some bigger photos? Might we suggest using OpenHomesPhotography the next time around?

17th & Clayton: What we said on theFrontSteps.org

We gave you a look at the bones and early details of 17th & Clayton a long time ago on theFrontSteps.com, and we’re happy to say, they’re now ready for you to visit (literally, and virtually):

Early reports are positive, and open houses were very busy (~150 people through first open house). Trophy property? We leave that up to you to decide. Eye-catching? Definitely.

We are fond of this kitchen, that’s for sure.

So what about the wind that whips through there? Do high winds and extremely moist conditions (fog) speed up the patination process. Hmmmm….. We’re still fans of that kitchen.

4588-4590 17th Street [website/Zephyr]

Hip Hip Hooray!…and $300,000 over (4924 17th)

We know, we know…stop cheerleading, it doesn’t serve us well. It really doesn’t indicate any sort of bearing as to our real estate market. It’s just rubbish. It only happens on the high end, but it happens, and you need to know about it.

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4924 17th St. asking $3,600,000, selling $3,900,000. Listed 10/19/2007, “pending” 10/31/2007, sold today 12/10/2007…cash. Apparently, these buyers don’t care about the memo.

4924 17th St. [mls]