If you own a home in the north-east part of San Francisco, what kind of year was 2010? Before I go on, district 8 in San Francisco is made up of the following neighborhoods: Tenderloin, Russian Hill, Telegraph Hill, Nob Hill, Financial District/Barbary Coast, North Beach, North Waterfront, Van Ness/Civic Center, Downtown. These neighborhoods vary significantly from each other in terms of housing stock, so what happens in one of these subdistricts isn’t particularly indicative of any other. 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 3 D8 neighborhoods saw an increase in median home price, led by Nob Hill with Civic Center/Van Ness just barely squeaking out an increase. All of the other neighborhoods were down, with the Financial District/Barbary Coast turning in the worst performance and the Downtown subdistrict turning in the least bad of the bad numbers.
The least expensive D8 neighborhood was Downtown (think Tenderloin, the change in MLS subdistricts in late 2010 causes some issues here), with a median price of $413,500 while the perennially prestigious Russian Hill came in as the most expensive with a median price of $1,015,000. 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 the Financial District/Barbary Coast as the most expensive at $1,211 per square foot and Van Ness/Civic Center as the least expensive at $619 per square foot.
What trends stand out to you?
Median Home Price, District 8
Price per Square Foot, District 8
District 8
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.
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