1705 Broderick Street (www.SocketSite.com)

Near the end of 2007, the Lower Pacific Heights home at 1705 Broderick Street, two doors down from the Full House façade at 1709 Broderick, was purchased for $2,800,000. The 2,648 square foot Victorian returned to the market today listed for $2,895,000.

1705%20Broderick%20Kitchen.jpg

Over in Bernal, 442 Anderson Street was purchased for $1,230,000 in June of 2007. The Mid-Century boned home is back on the market today listed for $1,195,000.

By most accounts and measures, home values in Bernal and Pacific Heights peaked in early 2008 and bottomed at the end of 2011, falling 15 to 20 percent between.

Comments from Plugged-In Readers

  1. Posted by REpornaddict

    Welcome to SF, where the effects of 4 years of falling prices are completely wiped out in a year or so!

  2. Posted by mdreaming

    Even with the return of high prices, the Broderick house seems a little overpriced for its location. It certainly has beautiful preserved features, though!
    I’m surprised to see the (nearly?) full lower level. Isn’t that quite rare for these old Victorians?

  3. Posted by Dan

    232 Ellsworth sold one week after the Anderson house in 2007, for $1.11 million, and is pending now.
    When both sell, there will be 2 data points for change in values in Bernal from the same time in 2007.

  4. Posted by REpornaddict

    “By most accounts and measures, home values in Bernal and Pacific Heights peaked in early 2008 and bottomed at the end of 2011, falling 15 to 20 percent between”
    How close to, or beyond those 2008 peaks are the same accounts and measures saying we are now for Bernal/Pac Hts?

  5. Posted by Dan

    This source has the 2007 as the peak year in Bernal, with a median sales price of $850k, surpassed just in the last 90 days, with a median of $915k.
    http://bernalvalues.com/bernal-heights-real-estate-statistics/?district=9&area=9010&property_type=RESI&period=YEAR&get_report=Get+Report

  6. Posted by Dan

    There’s a 3rd house nearby for sale at the same price as the other two, but it appears a bit larger and nicer: http://www.redfin.com/CA/San-Francisco/3740-Folsom-St-94110/home/1955813
    Perhaps this one was underpriced to spark a bidding war.

  7. Posted by Willow

    Not to hate on BH but I’m struggling to see the value of living in that part of Bernal for this price…OK, so you are close to Cortland but that’s about it. Public transit options are somewhat limited.
    I guess it’s the Noe “spill over” effect in play here.

  8. Posted by Dan

    I like NW Bernal, with its short walk to BART, the Mission, and the Valencia and Harrison Street bike lanes. But lots of people want to live within walking distance of the Cortland commercial strip, which does have an attractive array of offerings, plus convenience for those commuting south. Houses near that stretch of Cortland tend to sell fast.

  9. Posted by REpornaddict

    “I guess it’s the Noe “spill over” effect in play here.”
    basically, yeah. at the time of the collapse posts were full of details about how the crash in Contra Costra etc would have a domino effect on prices even in SF. Which was right, to some extent.
    Clearly the reverse is also true though, now theres going to be a kickup effect in many areas for the current price boom, of which Noe/Mission seems to be the epicenter.

  10. Posted by jack

    232 Ellsworth just closed for $1.22m.

  11. Posted by Boo

    That other listing near Cortland at 3740 Folsom that was listed at $1.195M just closed for $1.625M. Much nicer than the Anderson property. Larger too.

  12. Posted by Dan

    I called 3740 Folsom!
    Dan on 4/26/13: “Perhaps this one was underpriced to spark a bidding war.”

  13. Posted by jack

    That 3740 Folsom price tag of $1.625m is quite impressive. Walking by the other day, it looked like the new owner’s having some work done on the outside already. Wish I’d seen the inside in person though so I can get a sense of what may have been behind the $1.625m price, which, I think, is the highest in this part of Bernal recently?

  14. Posted by NoeValleyJim

    I was the Mumford and Sons concert last night and a Trauma Surgeon and his wife and buddies were sitting behind us on the grass. When they heard how much homes were in Noe, they tried to convince us that moving to Walnut Creek was a good idea.
    Hah! At least it seems like the suburbs have stabilized.

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