Noe Valley Voice June 2000

Noe Buys/Noe Rents:
Summer Fog May Cool Off Housing Market

Here are the latest figures on house sales and apartment rentals, supplied to the Voice by Zephyr Real Estate on 24th Street and Rent Tech Rentals. (Note that these sales occurred in April 2000 and that the rental data covers apartments rented January through March 2000. In both surveys, "Noe Valley" is defined as the area bordered by Grand View, 22nd, Guerrero, and 30th streets.) The numbers show that Noe Valley homes were still selling for 10 to 27 percent over asking price this spring. However, Zephyr manager Randall Kostick expects that we will see prices cool down slightly over the summer. "A lot of properties are coming on the market, and we have the same number of buyers. We may even go back down below the million-dollar mark," he said. --Sally Smith, Editor

Noe Valley House Sales ­ April 2000*
Total Sales Low Price ($) High Price ($) Average Price ($) Days on Market Sale Price as % of List Price
Single-family homes 13 450,000 1,260,000 828,384 18 127%
Condominiums 3 727,000 855,000 777,333 22 110%
2 to 4 unit buildings 6 600,000 1,600,000 1,106,833 25 124%
5+ unit buildings 0
*Information provided courtesy of Zephyr Real Estate ( and based on sales recorded April 1-30, 2000.

Noe Valley Rent Prices**
Size of Apartment Average Rent, Jan-March 2000 Average Rent, Jan-March 1996 % of Units Currently for Rent
Studio $1115 $675 9%
1 bedroom $1625 $990 25%
2 bedrooms $2400 $1375 40%
3+ bedrooms $2850 $2110 25%
**Data based on Noe Valley apartments listed by Rent Tech Rentals and Roommates (