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July 30, 2018

Here’s Your 2018 Bernal Heights Microhood Update


Bernal Heights rounded out the first half of 2018 with an average sale price of $1,688,025. But when it comes to the most accurate values, your best bet will be to look to the Bernal microhoods for guidance.

As my regular readers know, I created the Bernal Heights microhoods in 2014 to help prospective buyers and sellers get a more refined sense for single-family home values in the neighborhood’s distinct geographical areas.

Here’s how our microhoods stacked up in the first two quarters of 2018 (click on each pic to enlarge, red dots represent homes sold):

1. Northwest Slope
Single-Family Home Median Price: $2,159,133
Most Expensive: 18 Prospect (4BR/3.5BA, 3565 sq ft | $3,700,000)
Least Expensive: 222 Bonview (3BR/2BA | $1,275,000)
# Homes Sold: 9
# Overbids Above 25%: 15

Making a big showing in the $2M+ price range, the Northwest Slope is one of the most expensive microhoods in Bernal. A testiment to the desirability of the area was evident in the sale at 18 Prospect, a rebuilt modern home that sold in October 2017 for $3.5M. The new owners turned around and sold it this past May for $3.7M.

2. North of Cortland
Single-Family Home Median Price: $1,634,375
Most Expensive: 177 Ellsworth (3BR/2.5BA | $2,265,000)
Least Expensive: 136 Anderson (3BR/1BA, 1050 sq ft | $1,150,000)
# Homes Sold: 8
# Overbids Above 25%: 1

Most sales North of Cortland are falling in the $1.4M-$1.7M range this year. But several houses were in need of remodeling, and buyers paid a premium just to get into one of the most desirable microhoods.

3. Precita Park
Single-Family Home Median Price: $2,085,000
Most Expensive: 1618 Alabama (4BR/3BA, 2920 sq ft | $1,650,000
Least Expensive: 1600 Treat (2BR/2BA | $1,725,001)
# Homes Sold: 3
# Overbids Above 25%: 3

Precita Park hasn’t had much inventory since late 2017. So when homes do come on the market, they seem to be hot commodities. All three homes that have sold in this microhood in 2018 have sold for 25%-35% over their list prices.

4. East Slope
Single-Family Home Median Price: $1,582,420
Most Expensive: 48 Peralta (3BR/3BA, 2172 sq ft | $2,300,000)
Least Expensive: 21 Samoset (4BR/2BA, 1136 sq ft | $1,100,000)
# Homes Sold: 18
# Overbids Above 25%: 4

Many of the homes sold on the East Slope in the first two quarters were remodeled mid-century properties, and a few had great views. This microhood continues to be one where you get good value in today’s market.

5. Southeast Slope
Single-Family Home Median Price: $1,303,600
Most Expensive: 366 Nevada (2BR/1BA,1065 sq ft | $1,525,000)
Least Expensive: 298 Nevada (1BR/1BA, 875 sq ft | $1,100,000)
# Homes Sold: 5
# Overbids Above 25%: 2

The Southeast Slope was no stranger to a giant overbid over at 366 Nevada, a two-bedroom home listed for $995,000 that sold for $1,525,000—a big price for a home of only around 1100 square feet. Though this microhood is the least expensive of the eight, homes that aren’t too far from Cortland are still commanding premium prices.

6. South of Cortland
Single-Family Home Median Price: $1,528,571
Most Expensive: 501 Crescent (3BR/3BA | $700,000)
Least Expensive: 4236 Folsom (2BR/1BA, 960 sq ft | $1,002,000)
# Homes Sold: 14
# Overbids Above 25%: 6

Lots of heavy overbids happened in the second quarter in the South of Cortland microhood. Almost half of the homes sold changed hands for 25% or more over the list price, and included an Edwardian with unwarranted space down, a nicely remodeled 1940s house, a corner mid-century in need of an update and a three-level Victorian.

7. Holly Park/St. Mary’s Park
Single-Family Home Median Price: $1,573,361
Most Expensive: 329 Crescent (3BR/2BA, 1789 sq ft | $2,200,000)
Least Expensive: 165 Crescent Ave (1BR/1BA, 560 sq ft | $875,130)
# Homes Sold: 17
# Overbids Above 25%: 7

Holly and St. Mary’s Parks also saw many large overbids. Standouts included 257 Crescent—a fixer listed for $899,000 that came out of the buyer scrum with a $1.5M sale price. And let’s not forget the gracious Victorian at 315 Holly Park. That one was listed for $1.5M and sold for $2,130,000 in an all-cash transaction.

8. West of Mission
Single-Family Home Median Price: $1,737,857
Most Expensive: 30 College Ave (4BR/3BA | $2,475,000)
Least Expensive: 8 Cuvier (4BR/3BA, 2464 sq ft | $1,000,000)
# Homes Sold: 7
# Overbids Above 25%: 4

The West of Mission microhood is on the outskirts of Bernal Heights, and adjacent to Glen Park. But home buyers appreciate the easy freeway access and proximity to BART. Four of the seven homes sold ranged from $1,630,000 to $2.5M, and offer situations continue to be very competitive for what tend to be slightly larger homes than you typically see within Bernal.

[Data is based on January 1 – June 29, 2018 in the San Francisco Multiple Listing Service.]

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