In Search of Truth : Noe Valley Single Family HomesDecember 3, 2008
We performed a detailed analysis of Noe Valley single family homes for our “In Search of Truth” series. If you are unfamiliar with our methodology, please read this. We looked at all sales within the past six months (6/2/08 thru 12/2/08) and here is the run down:
- A total of 56 single famly homes sold during this period, per the MLS.
- Looking through all the photographs, descriptions, and property histories of each of the 56 sales, only 4 qualified for the analysis. These are our “perfect pairs”.
Based on these four representatives, how have Noe Valley single family homes fared recently?
- The average annual appreciation for the four representatives was $64,243. The median was a little lower, at $56,974.
- All four homes appreciated, none depreciated.
- The average duration of ownership was 4.28 years.
- It can be deduced that the average perfect pair in our sample appreciated $274,960 over its 4.28 years of ownership.
Remember, to qualify for the analysis, the photographs for each home must be virtually identical for the last sale as they were for the most recent sale. Our challenge in finding more “perfect pairs” is that the further you go back in time in the MLS, the less chance of there being lots of photos, hence the reason we only have 4 perfect pairs for this analysis. We considered going back through 12 months worth of sales rather than 6, but we feel this would be getting too out of touch with current market conditions.
If you have MLS access, you can see for yourself which homes qualified, and based on their photos and histories, why they’re the only ones that could qualify.
- 2336 Castro Street, sold 9/11/08
- 254 30th Street, sold 9/26/08
- 118 Day Street, sold 10/17/08
- 444 30th Street, sold 6/5/08