If you own a home in the south-west part of San Francisco, what kind of year was 2010? Before I go on, district 3Â in San Francisco is made up of the following neighborhoods: Lake Shore, Merced Heights, Pine Lake Park, Stonestown, Lakeside, Merced Manor, Ingleside Heights, Ingleside and OceanView. While all of these neighborhoods consist primarily of single family homes, the style and average size varies substantially from one ‘hood to the next. If you are having trouble reading the charts, click on any of them for a larger image.
In comparing values in 2010 to 2009, D3 neighborhoods were either essentially flat (OceanView had 1.6% appreciation, the highest for the district) or down (Merced Manor, down substantially). On a price per square foot basis, Pine Lake Â Park and Ingleside were the top D3 performers, while half of the neighborhoods were down (-8% for Ingleside Heights) or even more down (-17% for OceanView). Ingleside and Lake Shore were the only neighborhoods that saw a positive correlation in both price per square foot and median home price.
The least expensive D3 neighborhood was Ingleside Heights, with a median price of $420,000 while the most expensive was Pine Lake Park, with a median price of $888,000. If we try and attempt to correct for difference in average size by neighborhood and look at price per square foot (which has other issues, as I’ve discussed), then Merced Manor comes in as the most expensive neighborhood with OceanView coming in as the least expensive neighborhood on a $/Sq.Ft. basis.
What trends stand out to you?