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If you own a home in the central-east part of San Francisco, what kind of year was 2010? Before I go on,Â district 9 in San Francisco is made up of the following neighborhoods:Â Mission Bay, Potrero Hill, Bernal Heights, South Beach,Â Dogpatch, Inner Mission, South of Market, and Yerba Buena. These neighborhoods have the most recent new construction and also the highest concentration of lofts in the city, which makes them different from the rest of the city. New construction sales are often not reported in the MLS, and our data will not reflect those sales. 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 D9 neighborhoods saw a decrease in median home price, with South Beach being barely down (if we round to the nearest whole number it is flat) and Mission Bay being down about 15%. Â All of the other neighborhoods were up, the Inner Mission turning in the strongest performance with a 11% increase in median sale price year over year.
The least expensive D9 neighborhood was South of Market, where lofts sales and smaller condos have taken a beating, reporting a 2010 median price of $570,000, while the not-yet-finished Mission Bay neighborhood came in as the most expensive with a median price of $838,000. 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 South Beach as the most expensive at $738 per square foot and Dogpatch as the least expensive at $508 per square foot.
What trends stand out to you?
The San Francisco planning department recently completed their South of Market Area Historic Resources Survey, a project that they began in 2007 to identify remaining historic buildings in the neighborhood. They’ve released their results, and it includes a great interactiveÂ map of historic (and potentially) historic South of Market Area buildings. The survey is being done to identify property that may be a historic resource eligible for designation by either the National Register of Historic Places and/or the California Register of Historical Resources.
In addition, this coming Wednesday night, November 17, from 6:00 – 7:30pm at Bessie Carmichael Elementary School, the planning commission will be holding a community meeting, seeking to gather additional input and answer community questions. The results of this meeting will be taken into consideration and used to update/inform the presentation that the planning department will make to the Historic Preservation Commission on December 1.
The South of Market Area is a fascinating mix of pretty much everything. There are areas that range from extreme poverty (think 6th St. @ Mission) to extreme wealth (there are plenty of multi-million dollar conversion lofts sprinkled throughout the neighborhood). There are historic warehouses juxtaposed with mid-century mistakes and brand new construction (not to mention plenty of unfortunate live-work loft-in-box buildings built right around 2000). From busy thoroughfares like Howard or Folsom street to sweet parks tucked quietly away the South of Market area is truly a neighborhood that has pretty much everything.
So take a look at the interactive map and resources when you have a moment, they make for a fascinating virtual tour of neighborhood buildings and give you an idea of the complex and rich history of the south of market area neighborhood. It is a wonderful chunk of San Francisco history, not to be missed or overlooked.