Noe Valley is one of the few neighborhoods in San Francisco that has registered enough single family home sales in 2009 to start to see some sort of trend. That’s why we’ve chosen it for this post. Here are some stats:
- There have been 21 single family home sales in Noe Valley thus far in ’09.
- That’s about a 38% drop in activity over the same time period as last year.
- Despite a decline in activity, Noe still rides high in the City for overall transactions in 2009.
- The SFH median from 1/1/09 thru 4/15/09 is $1,210,000.
- That’s a 17% drop from the same time period as last year when adjusted for inflation/deflation.
Now, we’re well aware that just 21 data points here in 2009 is a smidge on the low side for any trending analysis, but we cannot escape the fact that a trend is indeed emerging.
First, let’s take a good look at the median sales price for single family homes in Noe over the last 14 years. We’ve adjusted the prices for inflation so we can isolate market movement from the changing value of the dollar. And if you follow our blog, you’ll know that we’d love to go back further than 14 years but computerized MLS did not exist then. With that said, here is the median trend for Noe from January 1st thru April 15th of each respective year: Read the rest of this entry ?