Have we finally found something that has out-appreciated San Francisco real estate?
In 1966, a super bowl ticket cost about $12.00. In May of 1968, almost 50 years ago**, a home in Noe Valley sold for $26,000 ($2,950 under the asking price).
In 2016, the Super Bowl returns to the greater San Francisco Bay Area and that same house just happens to be for sale with Pete Brannigan from Paragon RE. Pete is a long-time San Francisco Realtor that we’ve worked with in the past and respect greatly for the professionalism he brings to our business.
The address was 69 28th St., between Guerrero and Dolores streets. In 1968, the San Francisco Association of Realtors categorized the area as “Inner Mission” (there was no Noe Valley on a RE map) and the buyer purchased the home with a $10,000 first deed of trust which left them with a $101/month mortgage payment at 5.5% interest.
The home has been substantially remodeled since 1968, and the asking price is now $3,849,000.
We previewed it this past week on broker’s tour, and it is absolutely gorgeous (no, we don’t always say that – our job is to weed out the ugly ones. Unless that’s what you’re looking for). It will also be open Sunday, January 24 from 1:00pm – 4:00pm if you’d like to stop by and see the home in person.
The main level is an incredibly beautiful execution of an open kitchen/living/dining floor plan. Below is a picture of the master bathroom, which puts some spas I’ve stayed at to shame. We like the quality finishes through-out, not to mention the location which – just like in 1968 – is in the warm belt on a flat block that’s bike friendly.
Remember the cost of that 1966 Super Bowl ticket? $12! In 2016, the average price for a seat at the Super Bowl is about $4,500 depending on who you ask and when the ticket for this year’s game was purchased.
As for the real estate in Noe Valley ?
Congratulations, NFL! We’ve finally found something that has out-appreciated San Francisco real estate.
**Historical housing information comes from the oldest real estate listing book for San Francisco that I’ve been able to locate, the aptly named Volume 1 from the San Francisco Association of Realtors (SFAR) which at the time was known as the San Francisco Board of Real Estate. Volume 1 was published in 1968 and covers sales from March to November of 1968.
The MLS was organized a bit differently back then. Noe Valley as a designated neighborhood didn’t exist. Neither did Pacific Heights or most of the other 89 neighborhoods now on the map. What is now called Noe Valley was part of the SFAR Inner Mission district just as Pacific Heights was part of the Western Addition SFAR district.