An in-depth study recently published by PropertyShark analyzedsales in all of San Francisco’s diverse 46 neighborhoods from January 1st 2018 to December 14th 2018. The
results are in: while sales in some neighborhoods were predictable based on prior years, other tabulations proved surprising.
The city’s most expensive neighborhood turned out to be Presidio Heights.This exclusive neighborhood’s median price increased to a whopping $4.5 million year-over-year,translating into a 24.5% surge in the average home sales price. A total of 40 residential homes closed in Presidio Heights. 32 Maple Street held the record for the highest property traded at $18.5 million in April 2018. There were three sales over $10 million.
Sea Cliff landed in #2 position, experiencing a gain of 11.1%. Only 11 homes changed hands in this tony waterfront neighborhood. The average home price sold in the area was $3.88 million.
Upscale St. Francis Wood was up 3.8%, qualifying for 3rd place at $2.72 million.
And who was the biggest winner in terms of appreciation? Lone Mountain. Yes, Lone Mountain! Although less pricey, based on only 16 transactions (with an average sales price of $1.385 Million) the median increase surge of 57.40% landed Lone Mountain squarely in first place.
Other areas of the city resulted in relatively flat growth: Noe Valley, which recorded 208 sales in 2018, surprisingly declined 0.14%, while the Inner Sunset reported only a modest decline of .016%. Nopa, despite its desirable proximity to the park and Haight, was down 1.46%. Nob Hill was also down by 2.38%.
Neighborhoods registering the biggest drops: Parnassus Heights -5.75%; Jordan Park/Laurel Heights -6.0%; Pacific Heights -7.59%; The Inner Sunset -8.24%; Lake Street -8.75%; and Clarendon Heights -14.48%.
The Financial District landed squarely at the bottom, landing in 55th position.
With all economic indicators suggesting a slowing in the real estate market in 2019, it will be interesting to see who PropertyShark’s reportedwinners and losers will be on next year’s list.
A detailed list referencing all of PropertyShark’s neighborhood sales ranking can be found at https://www.propertyshark.com/Real-Estate-Reports/priciest-San-Francisco-neighborhoods