Noe Valley Real Estate Statistics |
All statistics are from the San Francisco Association of Realtors, Multiple Listing Service (MLS). |
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Noe Valley - Single Family Homes |
2-Bedroom Average & Median Selling Prices |
| This chart shows a classic season trend, with strength in the spring/summer and relative weakness in the winter. While the San Francisco market as a whole peaked in Q2 of 2005 and is down modestly since then, prices in Noe Valley are up year-over-year and established a new all-time price peak in Q2 of 2006 was matched in Q1 2007.. |
Based on current inventory levels and demand, expect Q2 prices to advance to another all-time high and then soften a little in the fall and winter.
Please note that the number of units sold per quarter for the last five quarters was less than 20...
With a small sample size, the mix of properties sold will tend to skew the average. This is why median prices are a better indicator of market conditions.
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* Figures current through June 30, 2009.
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3-Bedroom Average & Median Selling Prices |
| This series is uncharacteristic of both the San Francisco market and the previous series for Noe Valley. It shows that 3-bedroom homes did NOT peak in Q2 of 2005 but continued to rise through Q1-06 before softening a little over the last four quarters. |
It also shows a very stable price point, regardless of the time of year. This is another departure from the trend in the broader San Francisco market and for other Noe Valley property types.
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* Figures current through June 30, 2009.
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Average Cost per Square Foot |
| This chart reveals some interesting facts about Noe Valley real estate. First, notice that the cost per square foot for 2-bedroom homes is consistently higher than 3-bedroom homes. This delta is normal and represents the economies of scale you get with larger homes. This is also why some people believe that you should buy the most home you can afford. In essence it says that you get more house for every marginal dollar spent. |
Second, the cost per square foot for a 3-bedroom home in Noe Valley has been over $700 for most of the last two years and over $900 for 2-bedroom homes in four of the last five quarters.
With an average cost of $250 per square foot for new construction, there is a powerful incentive for people to expand their homes where possible!
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* Figures current through June 30, 2009. |
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Unit Sales |
| There is a normally lower sales volume in Q1 & Q4 when compared with Q2 & Q3. In the last two quarters of 2006, conditions shifted in favor of Buyers as inventor levels rose and demand softened. This lead to great buying opportunities that have now disappeared. |
At the end of Q1-07 we see that demand is up and inventory is down and it's deja vu all over again (aka an acute Seller's Market)
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* Figures current through June 30, 2009. |
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