Updated numbers table and graph for houses in Noe & Eureka Valleys. Note that of the houses reporting square footage (which usually runs from 60%-75% of all sales), the average size dropped 12% in the 1st Quarter from 2012’s average … Continue reading →
It’s been a few months since I took a look at my own stompin’ ground, Noe Valley, and how prices have been doing compared to the city as a whole. We dispensed with the notion that Noe Valley was somehow “immune” some time ago. Sadly — at least for home-owners — and happily for buyers, Noe hasn’t bounced back over the last few months, even though city-wide median prices have improved.
Bear in mind that “Noe Valley” means a very small area. What’s more, there were only 7 sales in August, down from 14 in May and June, and 22 in July. Sure, there’s been a bit of an improvement over the previous month, but there’s still an 11% difference between how far prices have fallen for the city as a whole (19%) versus Noe Valley (30%). ...
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. ...
I’ve written a piece as a guest-writer for The Front Steps, one of the better blogs on SF Real Estate.
After talking to loan officers and loan brokers for several weeks about the lending environment, here are the takeaways:
I came across a great post analyzing condo prices in Pacific Heights at TheFrontSteps.com. Source of the article is a new blog Inside SF Real Estate, very much of the same philosophy as I believe in: independent analysis, hard fact, no bs. I’m adding them to my blogroll today.
They also have a great chart and article focusing on Noe Valley condo and home prices (wish I’d done it first 🙁 ). Go take a look. And good luck Arrian!