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June 7, 2010

Noe Valley Condo Inventory Spikes for Summer

Not only have Noe Valley residents busted out their grills for summer, but several of them have decided to break out the For Sale signs on their condos, too.

A total of nine condos hit the market in Noe Valley over the past week, ranging in price from $669,000 to $1,038,000. And you can add these to the other 21 condos in Noe that are already on the market. But it seems like buyers aren’t hesitating to make purchases in this property category and neighborhood; a total of 35 condos have sold since January, with a median price of $848,000. The most expensive unit sold was at 1068 Sanchez, a3BR/3BA, 1,753-square foot property that sold for $1,625,000. In fact, twelve of the sold properties had $1M+ selling prices—buoyed by four luxury condos sold at the new Nove project on Guerrero—which tells you that Noe Valley is still attracting affluent buyers.

And it seems like listings are being absorbed at a pretty good pace.

If you’re a buyer looking to get into Noe, you have a lot from which to choose. I wouldn’t necessarily say it’s a genuine buyers’ market in the neighborhood, but over the next few weeks, it could spin in that direction.

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