If you own a home in the northwest part of San Francisco, what kind of year was 2010? Before I go on, I’ll explain thatÂ district 1 in San Francisco is made up of the following neighborhoods: Inner Richmond, Outer Richmond, Central Richmond, Jordan Park/Laurel Heights, Lake Street, Sea Cliff and Lone Mountain. If you are having trouble reading the charts, click on any of them for a larger image.
Jordan Park/Laurel Heights had the worst year over year statistical performance in San Francisco’s district 1, with Sea Cliff turning in the best year over year performance. In both neighborhoods the price per square foot and median price trends agreed. I don’t feel that these statistics are indicative of precise performance in these San Francisco neighborhoods, but I do think that the general direction (up vs down) is probably pretty reliable. Many of these neighborhoods are fairly small, and when the dataset is small it is easy for one or two properties to have an outsized effect on the results, regardless of the statistical methods that you use to try and compensate for this.
It’s also worth noting the stellar performance of the Sea Cliff neighborhood, given recent problems in obtaining financing for high-end luxury homes. In addition to the fact that lending in this price range has gotten easier, I’ve also seen aÂ note-ableÂ number of buyers in this category who are making all cash purchases.
And if you’ve always wondered why San Francisco realtors divided the Richmond into three neighborhoods in the MLS, the median prices of the three neighborhoods show the general preference for being farther from the ocean instead of closer.
What trends stand out to you?