North Beach

Recent market activity in Telegraph Hill shows signs that the market for condos is showing signs of recovery.  Although the market for condos in some of San Francisco's finest neighborhoods (including Russian Hill, North Beach, North Waterfront and Telegraph Hill) is down 16% in the last few years, it appears that the gap between supply (the number of condos listed for sale) and demand (the number of condos that close escrow) is narrowing.  What is happenning here?  Likely a number of...

North Beach Edwardian Condo
2 bedrooms 1 bath Formal Dining Room Living Room Dining Room with Wood Floors
$549,000

Located on a residential street in the heart of North Beach and close to Washington Square Park, this two bedroom condo is packed with period details including coved ceilings, crown moldings, wood floors and a decorative fireplace.  The upadated kitchen is well designed with ample counter space and storage.  The adjacent dining room is a bright, inviting space.  But, why eat at home when you are close to fabulous restaurants in North Beach, Chinatown and the Financial District?

Sold
$525,000

 

Market activity for condos in North Beach continues at a steady pace.  In the past month, three new condos have been placed on the market, and two that were previously available have been spoken for (one has sold, while the other owner has accepted an offer from a buyer and is waiting to close escrow).  Three homes that were on the market are still available, and two of the three have had minor price adjustments.  The punch line continues to be: a property that is properly prepared for...

During the last 6 months, six condos have sold in North Beach, for an average price of $805,000.  The average days on market is 42 (a statistic that includes the marketing period, and the number of days this property was in contract before the buyer lifts their inspection and financing contingencies).

By comparison, there are four condos currently for sale, with an average days on market figure of 92 days for homes, which are on average, much smaller.  What is going on here?  Is the...

 
 

 
Two new condos are active in North Beach.  The first, 444 Francisco, #201 is a 1 bedroom condo, weighing in at just over 600 sq feet (611 per tax records).  Its marketing touts that it is a sunny, south facing unit—which in this building means that it faces the street.  This block of Francisco Street is very quiet and lovely.  This is also one of the nicest condos I have seen in this building.  It’s a good value in a great neighborhood.  The second new condo is 445 Francisco St,...

Well priced condos in North Beach continue to sell when they are properly presented to the market.  This month, two new homes that were on the market went into contract:690 Chestnut #204, a 2 bedroom, 2 bath home and 600 Chestnut #306, also a 2 bedroom, 2 bath home.  Both were well priced homes, listed at $699,000 and $739,000 respectively.  The condo at 600 Chestnut last sold in June 02 for $555,000.  Even if the selling price is below asking, it is at a healthy increase over 2002...

This morning's SF Chronicle has an article about the Board of Supervisors lastest proposed legislation, that which will make it difficult, if not impossible to have a garage installed in a property where a tenant has been evicted without cause, such as through the state Ellis Act, or a city Owner Move In Eviction.  This bill, proposed by Board of Supervisors President David Chiu is getting the support of Tenants Rights Organizations as well as anti-car activists. I notice that I must have a...

The short block of Mason Street between Columbus and Lombard was closed a few weeks ago.  At first, I thought this was part of the city's plan to make urban parks (like the one in the Castro at 17th Street).  I realized that it is part of the renovation of the North Beach branch library. 

Public libraries throughout the city (16 in total) are being renovated or replaced to meet seismic safety requirements, modernize them for current technology standards, make them accessible to all...

What a difference a year makes.  I am sitting with two reports next to my computer--the first, a snapshot of the North Beach Condo Market that I prepared last July.  The second, a report that I created this morning.  Both reports look at all condos currently on the market--the ones for sale and those in contract, as well as all condos that have sold in the past 6 months. 

In 2008, there were 8 condos for sale or in contract, with prices ranging from $699,000 for a 2 bedroom condo that...

In the last month, there have been four new sales recorded in North Beach.  All of these properties sold below their original asking prices (even the private sale at 733 Filbert Street #1, which was added to the MLS to provide comparable sale data, sold for less than asking!).

444 Francisco Street, #103 came onto the market in late June, and sold in late August for $725,000.  This condo is a nicely remodelled 2bedroom, 2 bath, with a patio.  530 Chestnut Street, #301, a large 2 bedroom...

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