Little Appreciation for Glen Park’s First $5 Million HomeApril 28, 2023
When the contemporary 5-bedroom home at 80 Laidley Street sold for $5.4 million in mid-2017, it was the first Glen Park home to break the $5 million mark, prior to “Laidley Heights” having hit its marketing stride.
“Developed with the singular goal of creating an architecturally significant home oriented around breathtaking views and an unparalleled indoor/outdoor connection,” the roughly 4,700-square-foot home at 80 Laidley returned to the market priced at $6.995 million last year, a sale at which would have represented total appreciation of 29.5 percent over 5.3 years or 5.0 percent per year.
Reduced to $6.495 million after a month on the market and then to $5.995 million last month, the resale of 80 Laidley Street has just closed escrow with a contract price of $5.8 million, representing net appreciation of just 7.4 percent since the second quarter of 2017 on an apples-to-apples basis or roughly 1.2 percent per year, on a straight-line basis, for the high-end home.
And yes, the widely misreported index for “San Francisco” home values is “still up 37 percent!” over the same period of time, net of a 16 percent drop from last May to February of this year.
Comments from Plugged-In Readers
so looks like the appreciation and depreciation were nearly a wash. Too bad this wasn’t a “do you think you know”, I can guarantee I would have nailed it (smiley face emoji).
Is there a reason socketsite doesn’t post real appreciation as opposed to nominal? Seems like it would be more informative given the current inflationary environment.
You can roll your own! Google “CPI Inflation Calculator”
Glen Park has the best parks and rec vibe in the city.
12 months ago, this would have sold in the solid $6M’s.
Amazing views and neighborhood, even if the exterior of the house is bland
I wonder how many times a year a human being actually hikes to the upper deck area of the backyard?
Well 250 feet of the “Main House” footage is up there so hopefully a bunch as they paid $300k for it
There is an enclosed home office space with full-length sliding glass doors on the top on the yard with some of the best views in the city. The observation space on top of the office at the very top of the deck’s views is even more breathtaking. The other deck levels include a jacuzzi and a fantastic barbecue /entertainment space. The answer is that if you own this home, very often.
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