Purchased as new for $1.775 million in May of 2010, which was below asking and near the bottom on the Great Recession era market, the 2,800-square-foot “modern Hayes Valley sanctuary” at 124 Lily Street, re-sold for $3.25 million in February of 2017, representing total appreciation of over 80 percent, or 9.3 percent per year, despite the “architectural masterpiece” having been “used” over that seven year hold, which happens when the market is actually appreciating.

Yesterday, 124 Lilly Street returned to the market priced at $3.595 million, a sale at which would represent total appreciation of just over 10 percent since the first quarter of 2017 on an apples-to-apples basis for the single-family home “in the heart of one of the most vibrant SF villages” or roughly 1.7 percent per year.

If you think you know the market for modern Hayes Valley homes, now’s the time to tell. Keep in mind that the frequently misreported Case-Shiller index for “San Francisco” home values is “still up 42 percent” over the same period of time but trending down rather fast.

25 thoughts on “Modern Hayes Valley Lily Pad Back on the Market for $3.6M”
    1. not sure when this picture was taken, but hoping the rain saved that tree. looks like it was never watered

        1. A check of “Gergle” Street View suggests that “a” tree (some type of manzanita?) was planted when the re-build of the property was underway or complete, sometime between the “May 2008” and “April 2011” photos. Seemed to have done pretty well for itself, in fact.

          Well enough that, sometime between the “May 2021” and “June 2022” photos, it disappeared; looks like it may have been threatening those overhead wires. So the one in the picture appears to be new — even the old metal supports are gone — but one fears that either (or both) jimbo and sf may be correct in their observations…

          1. the appearance of the green bag is not proof its being watered, one of my neighors has had the green bag on her tree for 5 years and never waters it

          2. Ugh this city – bury the G.D. wires already; the earthquake risk alone is enough to justify doing so. But you certainly can’t have mature street trees (no matter how many policies the BoS and Recs and Parks adopt) if you have to cut them down just as they reach decent size, because … “wires”.

          3. I’m sure that the utility companies would be quite happy if The City or the new owner of this property paid for undergrounding overhead lines. The problem is that it’s quite expensive and projects to do it frequently run over budget and S.F. doesn’t have the money to fund it.

            In 2015, San Francisco Coalition to Underground Utilities chair Anne Brubaker said that at the current rate of replacement, “It will take 600 years” to to bury all those wires at the then-current rate of replacement relying on just The City’s allocated funding through the CPUC’s utility undergrounding program.

      1. This very much looks like one of those Friends of the Urban Forest plants. They circle around town and water their plants as needed. Of course when it becomes a necessity in a few years: They’re not trimming their trees, that’s left to the property owner.

    1. de·cid·u·ous
      (of a tree or shrub) shedding its leaves annually.

      Yeah, that was my thought too. The OP, I think was simply referring to its isolation…not sure how it became an obituary.

    1. I think this will get $1100 a foot for sure. It’s modern, it has high ceilings, two outdoor spaces, two living spaces, a good location, parking and has no obvious flaws. I think this gets $1150/foot or $3,220,000.

  1. $3,950,000.00 for a place that has the curb appeal of a fortress. Which sadly makes sense as one would want the protection against the street crime and filth right there. And…adjacent to an undeveloped lot that could become the city’s next homeless shelter / drug injection safe space, low income housing, or tent city.

    Which is exactly why cashed in and left SF in 2019. After our worst ever district 5 supervisor became the city’s worst ever mayor. Thanks to mentor Willie Brown,

    1. Tale of two cities. Stay west of Divis and/or north of California and you’ll have a great time.

  2. Are my eyes fooling me or is the toilet sitting windswept, directly opposite one of the vanity sinks? (unrelated, those sinks are a bit bowl-ish, themselves). Odd placement but I guess it makes for convenient handwashing afterwards…

  3. The DJ set up in the kitchen overlooking the living room is SENDING me. Such frat house vibes. Also I feel like at this price point a master bath should have a bathtub, but what do I know.

  4. 2010? Looks more like 1998 with a greige makeover. Even so, some optimist is probably going to dole out $3.25m for it.

  5. Doesn’t surprise me that this is pending after a week on the market. Hayes Valley is a thriving neighborhood. I was there recently to attend a concert at SF Jazz Center with some friends on a Thurs night and every restaurant was busy. Seemed much more active and lively than the Marina – last time I was on Union St I was surprised at all of the vacant storefronts. And looking at a street view picture shows the lot next door is not empty, it has a small structure that is clearly being used + gate in front.

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