.svg)
Noe Valley real estate in Q4 of 2021
Noe Valley continued to showcase why it's the most desirable single family/neighborhood pocket south of Market Street, with all 3 market segments moving at break-neck pace.
Q4 continued to show positive signs for the condominium market leading into 2022. Noe has been continually increasing in value all 2021, with Q4 being the only quarter where we saw a slight dip in average sales price, but consider it nominal.
The median single family home value has eclipsed $3,000,000 for the first time in history this year, and it's trending toward $3,500,000 faster than expected. I wouldn't be surprised if we were there by Summer '22.
Every home that hits the market was selling within 2 weeks in Q4, about as fast as any market nationally. We anticipate this micromarket to eventually steady out, it seems unfathomable to keep growing at this pace.
The luxury real estate market here has also seen explosive growth, taking only 7 days on average to sell homes $1M above the median.
Noe Valley will more than likely remain a sellers market for the foreseeable future.
The key statistics we will use to objectify market data are as follows:
Total Number of House Sales In Q4: 36
Average Monthly Sales In 2021: 14
Average Sale Price Of Houses In Q4: $3,041,000
Average Sale Price In 2021: $3,155,000
Average Sale Price Of Condominiums In Q4: $1,535,000
Average Sale Price In 2021: $1,580,000
Average Days On Market in Q4: 21
Months of Supply (total active listings/monthly sales rate): 0.8
Average Supply in 2021: 2.0
General sentiment from agents: Noe Valley was one of the few SF markets that went completely un-phased during the pandemic, if anything it actually increased in desirability while the rest of the city squandered. 2022 is primed for an explosive Q1, and anyone in the market needs to be ready to act immediately or risk being beat-out.
.png){kind=logo}