October 2001 RETURN TO HOME PAGE FEEDBACK

September and October are usually two of the busiest months in which to buy or sell homes in Noe Valley. But whether the terrorist attacks -- and the continuing reverberation in the economy and the American psyche -- will hurt the fall buying season won't be determined for a while.

"It's too early to tell," said Randall Kostick, manager of Zephyr Real Estate on 24th Street. The impact won't truly be known until November, when homes sold in September and October should formally close escrow.

Home buyers were active, however, in the weeks just prior to the Sept. 11 suicide attacks on the World Trade Center and the Pentagon, according to a monthly report Zephyr prepares for the Noe Valley Voice.

Two newly constructed townhouse-style condominiums on Duncan Street sold for $1,450,000 each in August, the latest month for which data was available. "That's pretty incredible," Kostick said of the nearly 3,000-square-foot homes. "I've been in the market for 15 years, and I can't think of a condo that went for a higher price than a house."

A four-bedroom home on Eureka Street sold for $1,293,000 in August. It was the month's most expensive single-family home.

Overall, eight condos and eight single-family homes changed hands during August. But buyers generally paid slightly less than the seller's initial asking price-- and sales took a week or so longer to close escrow than in previous months.

--Corrie M. Anders

Noe Valley House Sales: August 2001*

	Total Sales (Closings During Month)	Low Price ($)	High Price ($)	Average Price ($)	Average Days on Market	Sale Price as % of List Price
Single-family homes	8	$664,500	$1,293,000	$843,312	35	99%
Condominiums	8	$454,000	$1,450,000	$818,500	45	101%
2 to 4 unit buildings	3	$585,000	$1,080,000	$838,333	87	93%
5+ unit buildings	1	$1,375,000	$1,375,000	$1,375,000	36	97%

Noe Valley House Sales: July 2001*

	Total Sales (Closings During Month)	Low Price ($)	High Price ($)	Average Price ($)	Average Days on Market	Sale Price as % of List Price
Single-family homes	11	$390,000	$1,300,000	$808,181	30	101%
Condominiums	10	$320,000	$640,000	$503,500	36	100%
2 to 4 unit buildings	4	$575,000	$975,000	$720,000	43	98%
5+ unit buildings	0

Noe Valley Rents**

Size of Apartment	Average Rent, January-March 2001	Average Rent, April-June 2001	% increase or decrease
Studio	$1313	$1376	+4.8%
1 bedroom	$2088	$1766	-15.4%
2 bedrooms	$2604	$2651	+1.8%
3+ bedrooms	$3536	$3358	-5.0%

*Information provided to the Noe Valley Voice courtesy of Zephyr Real Estate (www.zephyr-re.com) and based on all Noe Valley home sales (closings) recorded during the month. "Noe Valley" in this survey is defined loosely as the area bordered by Grand View, 22nd, Guerrero, and 30th streets.

**Data based on rentals listed by Rent Tech Inc. (www.renttech.com) as of June 30, 2001.