Having been listed for $1,495,000, the remodeled single-family Forest Hill home at 14 Ventura Avenue was purchased for $1,680,000 a year ago. Since then, the oft-quoted “median price” for single-family homes in San Francisco has increased 36 percent! The median price in Forrest Hill’s District 4 is up nearly 32 percent.
Today, the four-bedroom home at 14 Ventura returned to the market listed for $1,650,000, two percent under its sale price in May of 2012. Did we mention that the average single-family home in San Francisco sold for “over asking” last month at 108 percent of list price? Go figure.
I believe the median per sq foot is generally up around the same as medians though (25-30% for SF as a whole I believe) – what happened to the once extremely strong focus on this metric?
anyway, some houses will do better than that metric. Others, like this one probably, worse. May not have been the best idea in hindsight to overbid by 200k if you plan to resell a year later. So it goes.
lame stuff, what the six or seven sold this year are up from the 20 plus last year, in median? And you’re teying to be facetious about “oft quoted,” with an obviously useless metric? Yeah oft quoted. By Socketsite. In soapbox rants like that one.
Waiting for the bubble to burst. Then again, I couldn’t care less because my partner, who’s a schoolteacher, and I (a researcher for an investment bank), can’t afford to buy the house we rent out the Sunset, much less something in Forest Hill, for us and our two kids. We’ve accepted the fact that we will never own.
serious question though, regarding the never owning thing..how is that going to play out post retirement, with retirement incomes fixed, and down from working income (possibly significantly..).
I Just think that perennial renters in SF (at least those who aren’t socking away the savings which, lets face it, is hard to do in this City…) are going to face a huge problem post retirement with a rent payment still due..
“Median Over A Million” was all the rage in the press last week. Email blast from my broker at Hill this week…
“Meanwhile, in our state, in May the median home price saw its largest year-to-year gain since 1980. In fact, San Francisco home values saw an astounding 32% gain this May over last.”
Like the house. Forest Hill is great little neighborhood.
Duhhh! The listing agent is Andrew Herrera. He under prices all his listings, and usually by significant amounts. When we were looking in District 4 a year ago we learned not to waste our time on his listings, even though they were in our “price range” at least as far s the asking price was concerned. Guaranteed this one will sell for WAY over list price!
Medians represent sold property. This is a listing. Apples to apples? No. SS should have waited for the closing price. Stop wasting my time with this sort of garbage.
why is it being listed again after only 1 year?
time to dust off an oldie but a goodie … “medians are NOT prices.”
“Apples to apples? No. SS should have waited for the closing price. ”
In the past, when the site featured apples after they were picked people complained endlessly about the editor “cherry picking” worse than average sales to feature on the site.
Schaetzer called it – it’s an Andrew Herrera special, priced low so it will pop up in your search parameters. HATE that garbage.
UPDATE: The Actual Appreciation For A Single-Family San Francisco Home.