Getting Granular in Eureka! (Valley)October 29, 2008
Eureka Valley and Dolores Heights are San Francisco staples. We were curious to see what has happened to median sales prices in the area since 1995. The area is unique in that it has a nice blend of single family homes and condos/tics. Because of this, we looked at trends in all property types. Here is a look at the data:
What can we see here?
What sticks out to us is the solid, consistent appreciation of median sales price values (the pink line) in the area for single family homes, and stability during downturns. It is also interesting that 2008′s median sales price for the district is still on the up and up.
Next, looking at the navy blue line, which is the median sales price for condos only, we see a bit more of a roller coaster ride. This is typical, as the condo market is generally more volatile than the single family home market in any neighborhood nationwide. It looks like this year’s median sales prices in the area are back to around 2005 levels. So this indicates to us that it could be a buyer’s market in the area.
Lastly, the yellow line is a combination of condos, TICs, lofts, and stock cooperatives. We’re not surprised to see it parallel the condo line. It also looks to be just a smidge above 2005 levels.
Due to scarcity of homes in the area (ie: no new developments radically changing the face of inventory levels), we think the area is a solid performer. We’ll keep our eyes out to see how these graphs continue to take shape over time, and keep reporting the trends to you.
Here are the numbers of sales for the area for the different property types. We want to show you this so you know that the median sales prices are derived from nice long strings of data.
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