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January 8, 2009

Market Update: The Richmond

A mix of single-family homes and multi-unit buildings, the Richmond district saw a fair amount of two- to three-bedroom property sales in the last quarter. Here’s a look at the price averages in each area of the district.

Inner Richmond
Single-Family Homes
3BR: $1,166,250 (2 sold)

2BR: $810,000 (1 sold)
Take note: The only condo that sold in the Inner Richmond last quarter actually sold for above the $765,000 asking price. And it closed after October’s stock market crash. Go figure.

Central Richmond
Single-Family Homes
2BR: $801,250 (4 sold)
3BR: $1,075,000 (5 sold)
Take note:Where else can you get a 3BR/2.5BA, two-story Edwardian with 2,000+ square feet for the price of a luxury condo elsewhere in the city? Such a home sold at its $1,250,000 asking price on 25th Ave and Cabrillo in early December.

2BR: $798,333 (3 sold)
Take note: Two of these condo sales took place in the same newly converted, two-unit building on 16th Ave and Balboa. The top-floor unit was listed at $779,000 and sold for $800,000; it included a sunroom and deeded bonus room & storage. Parking was tandem.

Outer Richmond
Single-Family Homes
2BR: $625,000
3BR: $865,500 (5 sold)
Take note: A pretty decent 2BR/1BA home sold for $550,000 at Balboa and 43rd Avenue. Good deal.

Condos: None sold

Check back tomorrow for a look at Pacific Heights, Cow Hollow and the Marina.

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