Just a note on my web policy: I will not post actual sales figures on this site out of respect for the sellers and buyers of St. Mary's Park property. However, I can provide this information on an individual basis. Just give me a call if you're curious about a particular property.
To search the Multiple Listing Service, click here.
This site happily donated and maintained by
Libby Subers
Resident Expert
Herth Real Estate
555 Castro Street
San Francisco, CA 94114
415.861.5222 x 390
www.libbysubers.com
Real Estate
Activity
It was a quiet 2009 in St. Mary's Park. Several homes came on the market, but only a few sold while others languished without selling. 2010 is a different story. It's easy to see that the energy is back in the market. Desirable homes are selling quickly, but at less than the peak pricing of 2007. Still, recent offerings have garnered multiple offers at close to or just over asking. Realistic listing prices are the key to attracting qualified and interested buyers. In other parts of the City, I've recently represented buyers who got great deals under asking, with some generous seller concessions. Sometimes, that's what it takes to seal the deal.
As always, I'm available to answer your real estate questions or give you a no-obligation market analysis of your home or investment property. Thanks, neighbors, for your referrals!!
July 2008 --
Summer is here! Recently I mailed a postcard to neighbors showing current and recent sales activity in the park. The median sales price for the past twelve months in St. Mary's Park was $850,000. Despite what you read in the headlines, our neighborhood is still very much in demand and there are qualified buyers in this price range.
I see a trend of people moving back INTO cities, trading long, expensive commutes for a little pricier real estate, public transportation and urban amenities. After all, you may or may not be able to deduct the cost of your gas, but most people can deduct some or all of their mortgage interest. (Disclaimer: This is not tax advice! Your mileage may vary; please consult a tax professional!)
There are definite buying opportunities in some parts of town. If you have the resources, buying an investment property might make sense at this time.
photo by Joan Moore
2008
May 2008 --
Properties seem to be moving more quickly throughout San Francisco. The home for sale on Benton sold very quickly! Another home is on the market on Justin.
February 2008 --
Happy Valentines! There is only one house on the market in St. Mary's Park right now. I know there's pent-up demand for homes here.
People I run into often ask me what's going on. Are values holding? Are prices declining? Has subprime lending affected San Francisco?
San Francisco's real estate market is still quite strong. There are plenty of well-qualified buyers out there looking for a jewel of a home at the right price in the right location. As we know from living here, St. Mary's Park has the potential to meet these needs of Buyer X.
What my buyers are running into right now is lack of inventory. They're ready to buy but there aren't suitable homes to consider. Homes ready to list now might see more buyers coming through than later in the Spring when many homes will be on the market. The other thing I'm finding is that buyers in general are more selective than in previous years. They're looking for true value from their purchase, be it a newly remodeled home or a fixer upper.
January 2008 --
San Francisco continues to buck the national and state level trends. Despite the gloom and doom that lurks in news reports, San Francisco, San Mateo and Marin property values are holding and even increasing!
Curious about St. Mary’s Park’s performance, I compared sales of single family homes during the last quarter of 2007 with the last quarter of 2006. St. Mary’s Park is considered part of Bernal Heights as respects real estate statistics, but I dug a little deeper. Where Bernal Heights’ median price appreciated 5.2% for the last quarter, St. Mary’s Park’s median price jumped 5.7%.
The big statistic that changed city wide is number of homes sold. The last quarter of 2006 shows 698 single family homes changed hands, while in 2007 only 556 did in the same time period.
Rates are incredibly low right now. With the recent drop in the prime rate, we’re seeing rates as low as they were in the early part of the Century. Credit guidelines have really tightened up, which is contributing to the number of buyers in the market place. However, right now, inventory is low and there are many qualified buyers shopping for their next home.
December 2007 --347 Justin just went into contract. Another home on Justin is available for sale now as well. The level of activity in the SF market is appropriate for this time of year. Traditionally, fewer homes are put on the market during the holiday season, but serious buyers are still out there looking!
November 2007 --
Sales and what's available: 314 College sold for a little over a million dollars! It's a great house in a great St. Mary's Park location. Two homes are now available on Justin.
Mortage news: For buyers, and owners wishing to refinance, lenders have become more conservative in their underwriting criteria. Well-qualified buyers are still enjoying competitive rates, but sub-prime buyers are having difficulty obtaining loans. This has taken some buyers out of the pool, but has not seriously affected the San Francisco market. Because of our high property valuies, most San Francisco buyers have had to demonstrate a solid credit history and purchasing power in the past.
Market info: Single family homes in most areas of the City show an increase in median price over last year at this time. The market is still strong for a well-presented, well-priced home in a desirable location such as St. Mary's Park.
If you're thinking of making a move early next year, the time to start planning is now -- give me a call today and we'll map out a timeline and checklist.
October 2007 --
245 Genebern sold quickly with much interest. It was great to see so many neighbors come view the home! The new residents are ecstatic to be living in St. Mary's Park. Hopefully, you'll get to meet them at our great Club events! Meanwhile, the house on College should close escrow soon. I'm excited to meet the future residents of 314 College!
There are two other houses in the Park that are currently on the market. I'd love to represent your friends, family or associates as the buyer of these homes!
September 2007 --
Thus far in 2007, 7 homes have been publicly offered for sale in St. Mary's Park. (Welcome, new neighbors!) This is a smaller number than we've had in the past few years.
The average price per square foot in the park has steadily increased over time. In 2004, the average price per square foot was approximately $504, while in 2007, it is $663 for sales to date.
Likewise, the average sales price has increased from $815,500 to $879,200 in the same time period. (Data was taken from sales recorded in the San Francisco Multiple Listing Service).
These averages take into account those homes needing work and those that have been substantially remodelled. This year, thus far, several of the homes offered for purchase were in more 'original' condition than in prior years.
For a free no obligation comprehensive market analysis of your home, give me a call.