Purchased for $2,850,000 in June of 2009, the contemporary Noe Valley home “with a conscience” at 3961 25th Street returned to the market ten days ago listed for $3,299,000. In the words of a plugged-in Noe Valley resident at the time:

“I would very tentatively say that Noe is cooling off just a tad. It is still hot, just not hot, hot, hot.”

Last night, the list price for 3961 25th Street was reduced by $400,000 (12 percent), now asking $2,899,000 or two percent over its 2009 sale price on an apples-to-apples basis.
The House With A Conscience Returns [SocketSite]

Comments from Plugged-In Readers

  1. Posted by Noe watcher

    I think it all depends on the property. 536 Alvarado somewhat quietly (at least in terms of SS) came on the market a month ago at 2.95, sold in a week for 3.575 and closed in 7 days with multiple cash offers. I’m surprised it went unnoticed here.

  2. Posted by REpornaddict

    If its cooling its cooling from a ridiculously hot level. SF RE report has recorded that the median price for SFHs in April was exactly $1,000,000.
    That was an increase I think of around 67% from its low point of previous cycle. Think condos median is around 60% up too.
    Not confusing medians with prices, but clearly much more than mix going on here.

  3. Posted by lyqwyd

    Nice link!

  4. Posted by mikey woodz

    Dated finishes, so it can’t compete with the new flips hitting the market

  5. Posted by Dan

    Yes, it just screams 2009!

  6. Posted by Truth

    Heh. This house is a lot better than 33 valley. Where does the p come in Mikey Woodz? Impo?

  7. Posted by someone

    There is always a premium on brand new. I don’t think this property is dated and in many ways better than what was selling recently but folks rather live in a place that was never occupied.
    More importantly I think we had a pent up demand pushing prices higher, and I can well imagine the pool of $3M buyers is drying up. I think also agressive pricing sometimes backfires, see the Noe st FB house. Or Diamond/27th last year.
    I’ll shut up if Valley sells before, though we can always blame brand new.

  8. Posted by noe mom

    There was an intangible when I walked through it. It just did not feel right, something was off somewhere. Maybe the big open doors scream lack of security or something or maybe the crazy money is drying up and the price is too high. There was a house on 26th (or maybe it was Chavez) that was almost a million less and also a similar remodel that had a lot more going for it. Maybe the problem is that people don’t want a one car garage for all that money, especially on those busy streets.

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