The Bernal Heights microhoods are backing off the $2,000,000 median price this year. For the first time in a while, no microhood hit that single-family home median price.
Bernal overall is doing well this year. The median single-family home price in the January-June 2019 time period was $1,460,000—down 11% from the same time period in 2018.
Buyers have paid an average overbid of approximately 15 percent in the first half of this year. And of the 71 homes sold, 28 saw buyers pay 20% or more over the list price (with eleven paying in cash).
But it’s time for a microhood update. As my regular readers know, I created the Bernal Heights microhoods back 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 2019 (click on each pic to enlarge, red dots represent homes sold):
1. Northwest Slope
Single-Family Home Median Price: $1,635,500
Most Expensive: 112 Elsie (4BR/2.5BA, 2240 sq ft | $3,000,000)
Least Expensive: 340 Winfield (2BR/1BA 750 sq ft | $1,040,250)
# Homes Sold: 10
# Overbids Above 20%: 5
The Northwest Slope made a strong showing, as usual. The high flyer in this batch was the small house with complicated expansion potential and a postage stamp kitchen at 156 Bonview. Listed for $999,000, the home sold for $1,550,000.
2. North of Cortland
Single-Family Home Median Price: $1,537,500
Most Expensive: 160 Anderson (4BR/3BA, 2666 sq ft | $2,300,000)
Least Expensive: 119 Banks (1BR/1BA, 800 sq ft | $770,000)
# Homes Sold: 8
# Overbids Above 20%: 3
North of Cortland was home to one of the rare homes that sold for substantially under the list price. First sold as a fixer in May 2018 for $1,425,000, 160 Banks was renovated by its new owners and relisted in March 2019 for an ambitious $1,925,000. But the final selling price was $1,780,000.
3. Precita Park
Single-Family Home Median Price: $1,500,000
Most Expensive: 3287 Folsom (3BR/3BA, 2075 sq ft | $2,250,000
Least Expensive: 124 Mullen (2BR/2BA | $915,000)
# Homes Sold: 6
# Overbids Above 20%: 2
Things have calmed down in Precita Park. I recall a time when $2M+ homes were selling like hotcakes there. That being said, the standout this year has been 3287 Folsom—a large view home that sold for 19% over the list price.
4. East Slope
Single-Family Home Median Price: $1,510,000
Most Expensive: 510 Franconia (3BR/2.5BA, 1765 sq ft | $1,950,000)
Least Expensive: 1208 Powhattan (2BR/1BA, 817 sq ft | $823,000)
# Homes Sold: 13
# Overbids Above 20%: 4
It’s unusual to see the East Slope share the same median home price as that of Precita Park. But that’s what’s happened so far this year. The sale at 123 Peralta boosted the average a bit for two-bedroom houses; the property home had only 700 square feet and clocked in with a $1,510,000 sale price.
5. Southeast Slope
Single-Family Home Median Price: $1,312,500
Most Expensive: 92 Putnam (2BR/1BA, 1124 sq ft | $1,607,000)
Least Expensive: 82 Putnam (3BR/1BA, 1240 sq ft | $1,100,000)
# Homes Sold: 10
# Overbids Above 20%: 3
92 Putnam was the standout this year on the Southeast Slope. The modest two-bedroom home with original 1930s kitchen (sans dishwasher) hit the market in the Spring sweet spot known as May for $1,095,000. The winning bidder forked over $1,607,000.
6. South of Cortland
Single-Family Home Median Price: $1,302,500
Most Expensive: 478 Anderson (4BR/4BA, 2016 sq ft | $2,608,319)
Least Expensive: 618 Andover (4BR/2BA, 2250 sq ft | $980,000)
# Homes Sold: 12
# Overbids Above 20%: 4
Despite its $1.3M median sale price, South of Cortland saw three homes sell in the $2.2M-$2.6M range. That elite group included 478 Anderson, a 4BR/4BA home listed for $1,995,000 that took the prize for the highest sale at $2,608,319.
7. Holly Park/St. Mary’s Park
Single-Family Home Median Price: $1,675,000
Most Expensive: 10 Roscoe (4BR/4.5BA, 3000 sq ft | $3,100,000)
Least Expensive: 131 Santa Marina (2BR/1BA, 923 sq ft | $1,150,000)
# Homes Sold: 8
# Overbids Above 20%: 4
Boasting the highest sale in Bernal Heights year-to-date, Holly Park/St. Mary’s Park has seen solid home values this year. In particular, there was 10 Roscoe with its unique exterior and double lot. The home was previously purchased in June 2017 for $1,500,000 and transformed into a 3,000-square foot home. Here are the before & afters:
8. West of Mission
Single-Family Home Median Price: $1,400,000
Only House Sold: 29 Cuvier (2BR/1BA | $1,400,000)
# Homes Sold: 1
# Overbids Above 20%: 0
The little slice of Bernal known as West of Mission has been quiet this year. The only sale was a nicely remodeled, small house tucked in the north corner of the microhood.
Give me a shout if you’re planning to buy or sell a home in Bernal this year. You may as well work with the agent who created the Bernal microhoods and knows the values and market intimately. I’m at eileen@insidesfre.com | 415.823.4656.
[Data is based on January 1 – June 28, 2019 in the San Francisco Multiple Listing Service.]