Surveying the sales data for Noe Valley exposes some dramatic trends in sales prices. While the number of single family home sales has increased modestly, inventory is still lagging demand. And the impact on pricing is profound. Median price has sky-rocketed. The low point for median prices came in 2009 when 50% of homes sold around $1,100,000. In 2012 we returned to 2007 peak prices with a median sale price of $1,400,000. And by the end of the 3rd quarter in 2013 the median sales price for single family homes has reached $1,640,000.
While many people wonder if the rise in values can be sustained, it is undeniable that its the best time to sell in over a decade.