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You are here: Home / Archives for diamond heights

According to NabeWise your family should live…

February 25, 2011 by Matt Fuller, GRI 2 Comments

Happy Friday everyone! Nabewise recently sent out an email with their rankings for neighborhoods in San Francisco that are best for families. The votes come from locals, but I’m still fairly surprised with the results. If you ask me what neighborhood is best for families, I’d tell you that whatever neighborhood you will be the happiest in will be the right place for you. Some buyers want a little yard and the proverbial white picket fence, while others want to be able to walk to plenty of playgrounds, stores, and public transit.

The nabewise family rankings, to me at least, really seem to reflect the suburban story of child rearing – a single family house with a private yard, a garage that you drive into and out of, and dependence on a car as your primary means of transport. And it seems to me that if this is your vision, then perhaps the suburbs are where you should buy a house?

Coming in first in the nabewise rankings is the Saint Francis Wood neighborhood, a neighborhood known for its large and expensive homes – the median price in 2010 for St. Francis Wood was $1,909,000 with a median size of over 2,400 square feet. Coming in behind St. Francis Wood was a tie between Sea Cliff and Monterey Heights – neighborhoods that again are known for large single family homes. And for being expensive! Sea Cliff had a 2010 median home price of $2,540,000 and a median square footage of over 2,600.

Where do mere mortals with children live? Or must you be a hedge fund manager to afford children in San Francisco? Wait, wait… don’t answer that. Diamond Heights comes in a three way tie for third place with Laguna Honda and Balboa Terrace. Diamond Heights has a smattering of mainly 1960’s vintage single family homes (think Eichler), and also a large concentration of condominiums in large complexes. Given its reputation for wind and fog during the summer, I am surprised to see it rank so high. With a 2010 median home price of $520,000, Diamond Heights is by far the most affordable neighborhood of those ranked so far. (caveat: the large quantity of studios and 1BR condos in Diamond Heights pulls the median price down, don’t be tricked into thinking you’ll pick up a single-family in the neighborhood for that price).

So there you have it… the most family friendly neighborhoods according to NabeWise. Do you agree? Disagree? I’d love to hear your thoughts.

Filed Under: Blog Tagged With: diamond heights, family friendly, Neighborhoods, neighborhoods, neighborhoods in san francisco, rankings, single family house, st. francis wood

District 4: 2009 vs 2010 Median Price and Price Per Square Foot

February 13, 2011 by Matt Fuller, GRI Leave a Comment

If you own a home in the central-west part of San Francisco, what kind of year was 2010? Before I go on, district 4 in San Francisco is made up of the following neighborhoods: St. Francis Wood, Monterey Heights, Forest Hill, Balboa Terrace, West Portal, Ingleside Terrace, Mt. Davidson Manor, Forest Hill Extension, Sherwood Forest, Westwood Highlands, Westwood Park, Forest Knolls, Midtown Terrace, Miraloma Park, Sunnyside, Diamond Heights. With the exception of Diamond Heights which has a large stock of condominiums,  all of these neighborhoods consist primarily of single family homes although 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, 7 D4 neighborhoods saw an increase in median home price, while 9 saw a decrease. Destination D4 ‘hoods like St. Francis Wood, Forest Hill, and West Portal all turned in solid performances while Ingleside Terrace and Sherwood Forest brought up the rear of the list.

The least expensive D4 neighborhood was Diamond Heights, with a median price of $520,000 which makes sense given that DH is the only neighborhood with a large mix of condominiums. St. Francis Wood came in as the most expensive with a median price of $1,909,000. 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 St. Francis Wood being the most expensive and Diamond Heights being the least expensive on a price per square foot basis.

What trends stand out to you?

District 4 Price Data
Median Home Price
Price per Square Foot
Correlation between Price per Square Foot and Median Home Price Changes

All data is from the San Francisco Multiple Listing Service (SFARMLS). These are my feelings about $/Sq.Ft. metrics and the median average.

Filed Under: Blog Tagged With: california, diamond heights, district 4, forest hills, median home price, mount davidson, neighborhoods in san francisco, price per square foot, real estate pricing, san francisco, san francisco real estate values, sherwood forest, values, west portal, westwood highlands, westwood park

Price Per Square Foot: A Useful San Francisco Metric?

February 5, 2011 by Matt Fuller, GRI Leave a Comment

Ah, price per square foot. Is it a valid metric when pricing real estate? But more importantly (to me, at least), is a the more narrow question of it is a valid metric when pricing San Francisco real estate? This is a topic that inspires heated discussion, debate, and feelings, so let’s keep it friendly and respectful in the comments. Below is my opinion on price per square foot in San Francisco, based on my experience as a realtor in San Francisco over the past 9 years. I’ll start with where I think it can be a useful yardstick.

Price per square foot can be a useful metric when you are comparing apples to apples. For example, within a particular condominium building or project – One Hawthorne, One Rincon, The Infinity, or Millennium Tower, for example. If you have a basically interchangeable housing style, lofts in a box built around 2000 in San Francisco in district 9 for example, then price per square foot can again be a useful metric. But the amount of “apples to apples” housing stock in San Francisco is fairly limited and most of it is centered around district 9 neighborhoods like South Beach, Yerba Buena, or South of Market.

Price per square foot, as a general rule, is not a good metric for San Francisco real estate because our homes are so individual and distinct. Every home is unique, and given that many of our neighborhoods have diverse and widely varying housing stock, price per square foot becomes a poor measure when comparing house A to house B in Noe Valley. In addition to basic features like layout, room count, architectural style and property condition, price per square foot fails to take into account many intangibles like how light and airy a home feels, or if it is considered a good block or a heavily trafficked block that is less desirable.

I bring all of this up because in the coming days I’m going to be publishing an incredible amount of charts and statistics about San Franicsco real estate performance in 2010 compared to 2009. One of the metrics I have charted for San Francisco neighborhoods is price per square foot. Not because it is an excellent metric to calculate what the value of a particular home is, but because it is an often asked for metric, and it can help in validating high level trends about pricing direction. But before I present all the data, I just wanted to raise my concerns and feelings about price per square foot.

2010 vs. 2009 Reports:

  • District 1: Inner Richmond, Outer Richmond, Central Richmond, Jordan Park/Laurel Heights, Lake Street, Sea Cliff and Lone Mountain
  • District 2: Golden Gate Heights, Outer Parkside, Outer Sunset, Parkside, Central Sunset, Inner Sunset, and Inner Parkside
  • District 3: Lake Shore, Merced Heights, Pine Lake Park, Stonestown, Lakeside, Merced Manor, Ingleside Heights, Ingleside and OceanView
  • District 4: St. Francis Wood, Monterey Heights, Forest Hill, Balboa Terrace, West Portal, Ingleside Terrace, Mt. Davidson Manor, Forest Hill Extension, Sherwood Forest, Westwood Highlands, Westwood Park, Forest Knolls, Midtown Terrace, Miraloma Park, Sunnyside, Diamond Heights
  • District 5: Clarendon Heights, Buena Vista/Ashbury Heights, Cole Valley/Parnassus Heights, Noe Valley, Eureka Valley/Dolores Heights, Glen Park, Duboce Triangle, Corona Heights, Haight Ashbury, Mission Dolores, Twin Peaks
  • District 6: North Panhandle, Alamo Square, Anza Vista, Hayes Valley, Lower Pacific Heights, Western Addition
  • District 7: Presidio Heights, Pacific Heights, Cow Hollow and the Marina
  • District 8: Tenderloin, Russian Hill, Telegraph Hill, Nob Hill, Financial District/Barbary Coast, North Beach, North Waterfront, Van Ness/Civic Center, Downtown
  • District 9: Mission Bay, Potrero Hill, Bernal Heights, South Beach, Dogpatch, Inner Mission, South of Market, and Yerba Buena
  • District 10: Mission Terrace, Portola, Outer Mission, Excelsior, Crocker Amazon, Little Hollywood, Silver Terrace, Candlestick Point, Bayview Heights, Visitacion Valley, Bayview, and Hunters Point

Filed Under: Blog Tagged With: corona heights, diamond heights, metrics, neighborhoods in san francisco, noe valley, per square foot, price per square foot, prices real estate, real estate, real estate san francisco, real estate san francisco ca, san francisco, san francisco neighborhoods, san francisco real estate, south beach, sunset district, west portal, western addition

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