Update on What $2.1 Million Buys in Noe Valley — (now it’s under $2 million)

Back in February I posted about two $2.1 million homes offered for sale in my ‘hood. 731 Douglass had 3,000 square feet of good, livable space and the sorts of finishes and flourishes  you’d expect.  But it had no back yard and was located on the fairly busy corner of 24th Street and Douglass, with a Muni stop and Noe Valley Courts’ sand-pit within spitting distance of the front windows.

731-douglass-now
731 Douglass

Meanwhile 110 Hoffman, offered at just $2,000 less than Douglass, had a little less space and a vertical, less user-friendly lay-out.  But, location it had in spades, on one of Noe’s best and quietest streets.  Plus it had a spacious back yard with a lovely mature tree. ...  Additional Details

DOM Roll Please

A couple of posts ago, we dispensed with Absorption Rate as a good barometer of the market since there appeared to be no correlation between how much inventory was available in relation to sales rates and where median prices were going.  I asked whether there might be a different metric that would correlate better, like the oft-quoted Days on Market or “DOM.”

In essence, DOM tracks the average number of days that properties have been on the market from the time they became active on the MLS (Multiple Listing Service used by realtors) to the time they actually sell. ...  Additional Details

Absorption R.I.P.

After talking to people about my last post on Absorption Rates and the lack of a correlation between slower absorption and lower median prices (or faster absorption and higher prices), I got the impression that there was some curiosity — skepticism?  — about the underlying numbers.  So I thought a post mortem of sorts was in order.  Here’s a chart that simply tracks total listings and total sales over a little more than the two years covered by the Absorption Rate chart.
on-market-vs-sold ...  Additional Details