Hello My Favorite People—

So how did the San Francisco market fare in this first quarter of 2006?

Well, if neighborhoods were stocks, we’d be calling it a mixed market. Odds are roughly 50-50 that your home went up or down in value depending on where you live. But that’s only in areas where we can tell what’s going on– some neighborhoods don’t have enough activity to offer a measurable number of sales.

And even in areas with decent activity, just one sale at an unusually low or high price can skew the numbers. The stats for Mission District single family homes, for example, show a 20% drop in value, but when you pull out two mansions that sold for $2M+ in Q1 of 2005, the average sales price stayed about the same, at just a hair under $850,000.

The biggest surprise this first quarter—Noe Valley single family homes, which sold for an average 12% less than they did this time last year. In some ways this drop in value isn’t a surprise– Noe saw some of the highest appreciation in the City during the overheated market last year.

Conversely, the ‘view neighborhoods’ right next door—Dolores Heights and Eureka Valley saw a double digit increase in value. Go figure. . .

Some other winners were condos in Noe Valley, Pacific Heights and SOMA neighborhoods. And narrow market segments like Miraloma single family homes and Potrero condos held steady, with a small uptick or downtick in either direction.

My quarterly newsletter, which covers this information in more detail is going out next week. It includes average sales prices, number of sales and the percentage change in value for over 20 different neighborhoods. If you’re on my mailing list, look forward to your copy. If you’re not on my mailing list, call or email me and I’ll be sure to get one to you.

Have questions about values in your neighborhood? Want to know what the place down the street (or down the hall) went for? Call me and I’ll fill you in right away! Hope to hear from you soon—

This entry was posted on Friday, April 21st, 2006 at 12:00 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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