District 9: 2009 vs 2010 Median Price and Price Per Square Foot

If you own a home in the central-east part of San Francisco, what kind of year was 2010? Before I go on, district 9 in San Francisco is made up of the following neighborhoods: Mission Bay, Potrero Hill, Bernal Heights, South Beach, Dogpatch, Inner Mission, South of Market, and Yerba Buena. These neighborhoods have the most recent new construction and also the highest concentration of lofts in the city, which makes them different from the rest of the city. New construction sales are often not reported in the MLS, and our data will not reflect those sales. If you are having trouble reading the charts, click on any of them for a larger image.

In comparing values in 2010 to 2009, only 2 D9 neighborhoods saw a decrease in median home price, with South Beach being barely down (if we round to the nearest whole number it is flat) and Mission Bay being down about 15%.  All of the other neighborhoods were up, the Inner Mission turning in the strongest performance with a 11% increase in median sale price year over year.

The least expensive D9 neighborhood was South of Market, where lofts sales and smaller condos have taken a beating, reporting a 2010 median price of $570,000, while the not-yet-finished Mission Bay neighborhood came in as the most expensive with a median price of $838,000. If we try and attempt to adjust for difference in average size by neighborhood and look at price per square foot (which has other issues, as I’ve discussed), then we see South Beach as the most expensive at $738 per square foot and Dogpatch as the least expensive at $508 per square foot.

What trends stand out to you?

District 9
Median Home Price, District 9
Price per Square Foot, District 9
District 9

As always, all data is from the San Francisco Multiple Listing Service (SFARMLS). These are my feelings about $/Sq.Ft. metrics and the median average.

Comments

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