Getting Granular in Diamond HeightsJanuary 8, 2009
Diamond Heights is located in the central part of San Francisco. Condos and townhomes sprinkle the steep slopes of this neighborhood. Jaw-dropping views can be had in pretty much every direction. The neighborhood has a shopping center on Diamond Heights Boulevard which provides area residents with essentials. Interestingly, Diamond Heights was San Francisco Planning and Urban Research Association’s first project, “…intended to use redevelopment powers to use land on the hills in the center of the city to be developed with, rather than against, the topography. Few existing residents needed to be relocated for the redevelopment program, which included housing for a range of incomes, churches, schools, parks, and a commercial center”, according to Wikipedia.
Since condos abound in the area, we wanted to take a look at median sales price trends over time. What we found was pretty neat.
Prices have risen steadily over time and reached a nice peak in 2005. Since then we’ve seen decline until, oddly enough, 2008 rebounded and set a new high median for condos at $578,000.
Numbers of sales, on the other hand, have trickled downward since 2004. Over the 14 year history we analyzed, an average of 57 condo sales occur in the neighborhood each year. 2008 was off the average by almost half, with a paltry 30 sales.
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