In the 3rd Quarter of 2012, the median home price of single-family homes sold in San Francisco's Noe Valley neighborhood increased 24% compared to the same quarter in 2009. In Q3 2012, the median price of single-family homes sold in Noe Valley was $1,4000,000 and in Q3 2009, the median price was $1,122,500.
Median Price of Noe Valley-Single Family Homes 2009-2012
Let's remember that Q3 2009 was only a year after Lehman Brothers declared bankruptcy (September 2008) and all of the other events that contributed to the global financial crisis of 2007/2008 were in full force. With the exception of Q4 2009, which has the honor of reporting the lowest median price of single-family homes, the pattern of fourth quarter and the following year's first quarter price increases is very promising as 2012 comes to a close. Looks like the holidays don't impact Noe Valley home sales.
Our founder, Danielle Lazier, doesn't see any signs that this upward trend is slowing down and in this article from SFGate she explains why.
Do you think the prices of single-family homes in Noe Valley - or in any other sought-after neighborhood in San Francisco - will continue to rise in the 4th Quarter of 2012 and the 1st Quarter of 2013? If yes, what do you think is behind the steady increase?
