If you own a home in the south part of San Francisco, what kind of year was 2010? Before I go on,Â district 10 in San Francisco is made up of the following neighborhoods: Mission Terrace, Portola, Outer Mission, Excelsior, Crocker Amazon, Little Hollywood, Silver Terrace, Candlestick Point, Bayview Heights, Visitacion Valley, Bayview, and Hunters Point. As you may have come to expect, these neighborhoods are each fairly distinct from each other in terms of housing stock, so what happens in one of these subdistricts isn’t very 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 2 D10 neighborhoods saw an increase in median home price, and that was in Bayview and Bayview Heights. Â All of the other neighborhoods were down, with Mission Terrace being just slightly down (-1.5%) and Hunters Point being substantially down (-46.5%).
The least expensive D10 neighborhood was Hunters Point, with a median price of $110,000, while Mission Terrace came in as the most expensive with a median price of $571,500. 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 exact same results with Mission Terrace coming in at $459 per square foot and Hunters Point coming in at $94 per square foot.
District 10 has never been known as housing expensive neighborhoods, but I do think that these neighborhoods are where San Francisco has seen some of the greatest impact from the fallout of predatory and just-bad-idea loans that have led to a significant number of short sales and REO properties.
What trends stand out to you?