November 2011 RETURN TO HOME PAGE FEEDBACK

The fall home-buying season got under way in Noe Valley with the September sale of 10 single-family dwell­ings, including a renovated Victorian that sold for more than $3 million.

September sales topped by one the number of transactions recorded in August and were more than double the sales posted in September of last year, according to data supplied to the Voice by Zephyr Real Estate.

An increase in the number of available homes lured buyers, said Randall Kostick, Zephyr’s general sales manager. Buyers on average paid more than the asking price and tended to close deals quickly, in about five weeks.

“People were in line to grab the most attractive properties,” Kostick said.

Eight of the 10 homes sold for $1 million or more. The most expensive was a five-bedroom, 4.5-bath Victorian with a two-car garage, located in the 100 block of Valley Street between Dolores and Church streets. The 3,220-square-foot home sold in 15 days for $3,010,000—$15,000 more than the asking price.

Six condominiums changed hands in September, compared with five in August and nine in September a year ago.

Buyers paid $1,195,000 for the most expensive condo—$4,000 less than in 2004, when the unit was first sold in a newly built luxury complex. It had been on the market for 169 days. The three-bedroom, 2.5-bath condo, with 2,076 square feet and a two-car garage, is located in the 200 block of 29th Street, also between Dolores and Church streets.

 

 

Noe Valley Home Sales*

	Total Sales	Low Price ($)	High Price ($)	Average Price ($)	Average Days on Market	Sale Price as % of List Price
Single-family homes
Sept. 2011	10	$730,000	$3,010,000	$1,443,213	36	101%
Aug. 2011	9	$825,000	$1,980,000	$1,350,000	37	104%
Sept. 2010	4	$748,000	$1,775,000	$1,398,250	70	98%
Condominiums
Sept. 2011	6	$440,800	$1,195,000	$852,667	75	98%
Aug. 2011	5	$535,000	$1,253,000	$838,200	60	101%
Sept. 2010	9	$715,000	$1,295,000	$890,000	96	97%
2- to 4-unit buildings
Sept. 2011	1	$1,425,000	$1,425,000	$1,425,000	19	95%
Aug. 2011	2	$855,000	$962,000	$908,000	40	102%
Sept. 2010	2	$999,900	$1,065,000	$1,032,450	99	104%
5+-unit buildings
Sept. 2011	1	$1,250,000	$1,250,000	$1,250,000	28	108%
Aug. 2011	1	$1,425,000	$1,425,000	$1,425,000	376	95%
Sept. 2010	0	—	—	—	—	—

*‑ ‑Sales include all Noe Valley home sales completed during the month. Noe Valley in this survey is defined as the area bordered by Grand View, 22nd, Guerrero, and 30th streets. The Voice thanks Zephyr Real Estate (www.zephyrsf.com) for providing the sales data. 

 

Unit	No. in Sample	Range October 2011	Average October 2011	Average September 2011	Average October 2010
Studio	1	N/A	$1,450 / mo.	$1,569 / mo.	$1,560 / mo.
1-bdrm	17	$1,650 – $2,750	$2,219 / mo.	$1,945 / mo.	$1,727 / mo.
2-bdrm	12	$2,150 – $5,000	$3,202 / mo.	$3,583 / mo.	$2,724 / mo.
3-bdrm	7	$3,799 – $6,750	$4,764 / mo.	$4,707 / mo.	$3,936 / mo.
4+-bdrm	2	$6,500 – $10,000	$8,250 / mo.	$5,925 / mo.	$5,948 / mo.

  ** ­‑This survey is based on a sample of 39 Noe Valley listings appearing on Craigslist.org from Oct. 5 to 22, 2011.

NVV 11/2011