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August 5, 2015

Precita Park Tops Bernal’s Microhoods in 2015


I unveiled my Bernal Heights microhoods more than a year ago, and the post inspired local blog favorite Bernalwood to create its own more humorous, cartoonish microhood map—not to mention inspired a few real estate agent marketing pieces that you may have seen around town lately.

But if you know Bernal and are a serious buyer or future seller, you’ll know that the microhoods I carved out last year will give you the most accurate sense of neighborhood values.

All the microhoods have made substantial jumps in their sales price averages since my initial post in March 2014. But the biggest boost belongs to Precita Park, which has basically exploded over the past year. The Precita Park microhood now carries an average sale price of $2,203,857.

It’s a good time for an update on how home prices are doing in each microhood. (Note: All 2015 numbers are based on the time period April-July 2015; the 2014 averages referenced in my initial post are based on sales that took place from September 2013-March 2014.)

North West Slope
Average Price: 2014: $1,195,589 / 2015: $1,498,146
Price Increase: 25%
The North West Slope has been going strong these days. Of the 15 homes sold, five sold for more than $1.5M. There were two cash sales, including the one at 52 Mirabel, which was the most expensive home sold in the past few months at $2,625,000.

North of Cortland
Avge Price: 2014: $1,260,818 / 2015: $1,545,000
Price Increase: 22.5%
Ever-popular North of Cortland continues to charm. Buyers shelled out $2,015,000 for a 3BR/2BA house at 115 Wool, and a renovated 3BR/2BA at 68 Nevada changed hands in an all-cash sale for $1,575,000.

Precita Park
Avge Price: 2014: $1,206,125 / 2015: $2,203,857
Price Increase: 82%
The Precita Park microhood has gone bonkers over the past year, and I am not kidding. The six homes that sold from April to July ranged in price from $1,605,000 for a 2BR/1BA at the top of Treat, to $3,150,000 for a 4BR modern home at Folsom and Bernal Heights Boulevard. All the homes in between were $2M or more. If you’re a seller with a large, fully remodeled house in this microhood, expect $2M at a minimum.

East Slope
Avge Price: 2014: $1,097,467 / 2015: $1,418,332
Price Increase: 29%
All six houses that sold recently on the East Slope made a good showing when it came to price; the least expensive was a 2BR/1BA home with less than 1,000 square feet on Bradford for $1.1M. The other five homes were in the $1,233,000-$2M range. That $2M home was at 322 Rutledge, a 3BR/2.5BA renovated home with 2,000 square feet and panoramic views.

South East Slope
Avge Price: 2014: $937,500 / 2015: $1,167,500
Price Increase: 24.5%
Though the South East slope has a lower price average than its fellow microhoods, it’s still made substantial gains recently. Four homes sold recently, with the most expensive being $1,75,000 for a heavily remodeled 3BR mid-century home at 853 Peralta.

South of Cortland
Avge Price: 2014: $918,000 / 2015: $1,205,150
Price Increase: 31%
Of the ten homes sold recently South of Cortland, four were sold for $1.4M or more. This includes 459 Anderson, a 3BR/2BA Victorian listed for $1,389,000 that sold for $1.9M. (No, that’s not a typo. $1.9M.) But you can still buy a house for less than $1M in this microhood, as the comps prove.

Holly Park/St. Mary’s Park
Avge Price: 2014: $1,000,556 / 2015: $1,336,000
Price Increase: 33.5%
Homes at 43 Bache and 39 Arnold sold for almost $1.6M in the Holly Park/St. Mary’s Park microhood recently. In fact, the only home in the area that sold for less than $1M was 50 Patton, a 2BR/1BA house that traded for $920,000 with a construction loan for the buyers.

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