We’ve just been updated by local realtor Helena Zaludova with details of what the property market has been doing over the past few months. Helena has produced a simple report (graphed below) for the Planet which shows the median home sales for our area in the past 10 years. She comments that “We are not quite up to the peak values of ‘05-’07 but it won’t be long before we hit that mark. This is an older neighborhood where properties don’t turn over as quickly so our inventory levels are at their lowest.”
The chart below most definitely shows property values increasing and Helena also told us that, “1600 Felton that sold last year for $610,000 with 12 offers is now back (see listing here) after a soul-less remodel for $799,000. They have an offer date set for a bidding war on October 17th. Should be a fun one to watch!”
Fun indeed, unless you are the poor soul trying to beat those cash offers to secure a new home. Good luck everyone out there trying to buy in San Francisco, while the Portola is one of the best areas in the city for getting a good priced home, the prices are still amazingly high in comparison to the rest of the country.