Noe Valley homebuyers in August
purchased fewer houses—but paid higher prices—than they did a
year ago.
Nine homes changed hands during
the month, according to sales data supplied to the Voice by
Zephyr Real Estate. That compared with 12 homes sold in July
and 10 sold one year ago.
Buyers on average paid 4 percent
more than sellers were asking for their properties. The
average sales price was $1,350,000, versus $1,230,000 a year
earlier, when buyers generally made full-price offers.
Randall Kostick, Zephyr’s
general sales manager, said buyers tended to overpay in August
because the number of
excellent properties was limited and demand was
high.
“They were willing to pay for
the houses they wanted,” Kostick said.
Buyers paid $1,980,000 for the
most expensive single-family home, a modern dwelling built
last year in the 1600 block of Diamond Street between 28th and
29th streets. The 3,637-square-foot home had four bedrooms,
4.5 bathrooms, a three-car garage, an elevator to all four
floors, and a panoramic rooftop garden.
August was also a slow month for
condominium sales. Five units changed hands, compared with 11
transactions a year earlier.
The priciest condo, at
$1,253,000, was located in the 4400 block of 23rd Street
between Hoffman and Grand View avenues. Built in 2002, the
unit featured three bedrooms, 2.5 baths, one-car parking, and
2,237 square feet of space.
Noe ValleyHomeSales*
Total Sales
Low Price ($)
High Price ($)
Average Price ($)
Average Days on Market
Sale Price as % of List Price
Single-family homes
August 2011
9
$825,000
$1,980,000
$1,350,000
37
104%
July 2011
12
$850,000
$1,800,000
$1,170,792
39
104%
August 2010
10
$654,000
$2,050,000
$1,229,577
41
100%
Condominiums
August 2011
5
$535,000
$1,253,000
$838,200
60
101%
July 2011
4
$600,000
$1,650,000
$972,500
45
100%
August 2010
11
$620,000
$1,762,500
$899,264
75
99%
2- to 4-unit buildings
August 2011
2
$855,000
$962,000
$908,000
40
102%
July 2011
3
$625,000
$1,500,000
$1,088,333
52
98%
August 2010
5
$530,000
$1,150,000
$907,000
66
89%
5+-unit buildings
August 2011
1
$1,425,000
$1,425,000
$1,425,000
376
95%
July 2011
1
$2,100,000
$2,100,000
$2,100,000
16
111%
August 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.NVV 10/2011
Noe Valley Rents**
Unit
No. in Sample
Range September 2011
Average September 2011
Average August 2011
Average
September 2010
Studio
4
$1,475 – $1,800
$1,569 / mo.
$1,468 / mo.
$1,443 / mo.
1-bdrm
13
$1,600 – $2,895
$1,945 / mo.
$1,998 / mo.
$2,089 / mo.
2-bdrm
15
$2,500 – $4,850
$3,583 / mo.
$3,006 / mo.
$2,876 / mo.
3-bdrm
12
$3,500 – $5,750
$4,707 / mo.
$4,454 / mo.
$4,118 / mo.
4+-bdrm
2
$5,960 – $6,200
$5,925 / mo.
$5,675 / mo.
$5,433 / mo.
** ‑This survey is based on a sample
of 46 Noe Valley listings appearing on Craigslist.org from
Aug. 29 to Sept. 20, 2011. NVV 10/11
