While the sale of 625 Duncan just set a new record for the most expensive home in Noe Valley, it’s the sale of the modern Noe Valley home on Hoffman pictured above that might end up raising more eyebrows.
Purchased for $2,850,000 in early 2011 having first sold for $2,970,000 in early 2010, the 4,500 square foot home at 465 Hoffman was listed for $3,795,000 last month. A sale at asking would have represented a rather healthy 33 percent ($945,000) gain in value for 465 Hoffman over the past three years, but it didn’t sell for asking. It sold for $5,105,000.
Call it a 79 percent ($2,255,000) gain in value, effective 21 percent annual appreciation, for the modern Noe Valley home over the past three years, apples-to-apples style.