Getting Granular in Russian Hill
November 13, 2008Russian Hill is one of our favorite parts of the City. With its proximity to North Beach, the Polk Gulch, Chinatown, the Marina, the Financial District, and the Bay, it’s a fantastic spot to live. Magnificent views of the Bay Area are in just about every direction. Cable cars go up and down beautiful, tree-lined Hyde Street, splitting the neighborhood in two. There’s no question that Russian Hill has that quintessential San Francisco feel.
Young DINKS* and well-to-doers mix with the monocle-clad in SF's Russian Hill
We were wondering about condo prices in the nabe. We’ve heard that the neighborhood has been extremely resilient, but let’s have a look at those numbers shall we?
Continue reading to see the trend –>
Condo Medians in Russian Hill - Click to Enlarge
Wow, owning a condo in Russian Hill reminds us of a ride at Six Flags. You can see how the dot com crash of ’01 had a relatively soft effect on Russian Hill. Last year prices dipped but have rebounded this year. All in all, this is good long-term growth in what we feel is a solid neighborhood (yes, we are simultaneously referring to the bedrock).
Let’s say you bought at the height of the market in 2005 at a median of $845,000. You’d be pleased to know that condos in the ‘hood have gone up since then (in general of course; if your place sucks this chart won’t do much for ya). Contrast this to any other neighborhood in the US outside of SF and you’ll see how fortunate you truly are. If we had MLS access for other markets, we’d show you ourselves, but for now you’ll just have to close your eyes, sit back, breathe deeply, and imagine.
For more “Getting Granular” articles, click HERE.
Mmmmm, this is nice.
*DINK
