Getting Granular in Nob Hill
November 19, 2008There’s only one neighborhood that truly looks down on the Financial District, and that is Nob Hill. Fancy balls, galas, crystal chandeliers, and velvet ropes spring to mind. The area boasts some of the most incredible views of San Francisco and has the high-priced property to go along with them.
Looking up California Street, which climbs Nob Hill (Courtesy of Bill Storage photo)
We researched median sales prices in Nob Hill. The area is largely comprised of condos, co-ops, and TICs. Therefore, single family homes were left out of the analysis. What did we find?
Nob Hill Median Sales Prices (click to enlarge)
The pink line is the median sales price of condos/tic’s/co-ops/and lofts. We capped each year at November 18, so we could include 2008 and get an even comparison. Each point on the pink line indicates the median for that year, and an average of 90 sales go into each point.
The navy line is the median sales price of condos only, over the same period. Each point on the navy line has an average of 70 sales going into it. So in both cases, we find the data string to be fairly reliable.
The trend shows the dot com crash pretty clearly, and the following 3 year recovery period. Since then, it’s been onwards and upwards for Nob Hill. Even this year, we’ve continued to see medians climb. Startling, indeed.
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Mr. President Elect: Were you as startled by that chart as we were?
