Noe Valley: The Condo/TIC market

At long last, here’s the promised data on Noe Valley condos and TIC’s.

First, a look back (in anger?) at the make-up of Noe Valley sales in 2009.

Note that there were more than twice as many condos sold as TICs, and more homes sold than condos and TICs put together. (What’s a TIC?  — Check out my series of posts on Tenancy-In-Common Interests, starting here.)

Also, that absurdly long DOM for TICs was distorted by 3 TICs at 201 Hoffman that took 410 days to sell.  Still, without those sales, DOM for TICs (tired of the acronyms yet?) was still 99 days.  And I’d be somewhat skeptical of the whopping difference in price between TICs and condos as well:  TICs sales often don’t have a price per square foot listed, so there are very few data points — and there are very few sales to begin with. ...  Additional Details

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

What $2.1 million buys in Noe Valley

Out on brokers’ tour yesterday, I looked in on two homes  available in my Noe Valley neighborhood, priced within $2,000 of each other.  731 Douglass (at 24th Street) sold in March 2005 for $1.944 million and a mere $29o,000 in March 1997, when it was a sad-looking 1200 ft marina-style house, with a 6-car garage.  Back then:

731-douglass-old

and now:

731-douglass-now

In 1999, the owners completely redid the building, right around the same time that my wife and I were remodeling our house just around the corner and converting it from a two-unit building into a single family home.  At the time, there weren’t too many larger homes in Noe Valley.  Now, everybody seems to be adding floors or building out the basement. ...  Additional Details