Noe Valley View Home Fetches 2016 PriceFebruary 8, 2018
Having hit the market listed as “the ultimate in luxury & comfort,” and “masterfully crafted for today’s sophisticated taste” with an elevator from its three-car garage to its top floor, the new five-bedroom Noe Valley home at 538 28th Street sold for $4.985 million or roughly $1,041 per square foot in June of 2016.
And having returned to the market priced at $5.650 million this past September, a sale at which would have represented appreciation of 9.9 percent per year on an apples-to-apples basis, the resale of 558 28th Street has just closed escrow with a $4.995 million contract price, representing total appreciation of 0.2 percent for the single-family home over the past 16 months.
And with the list price for the home having been reduced to $4.995 million in November, the sale is officially “at asking” according to all industry stats and reports.
Comments from Plugged-In Readers
The stairs on the property next door look a bit obnoxious.
The stairs on the property next door have been there quite a long time, so let’s try again: the $5mm house in this neighborhood looks a bit obnoxious.
Per MLS’s remark dated 6/2016, buyer in 2016 also paid 5% sales commission. Looks like seller in 2018 paid 10% commission or ~$500K round-trip.
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