Home prices up (again) in Bernal Heights

During the month of February single-family home sales in Bernal Heights were rather light with only 7  properties trading hands. Historically, the number of monthly home sales in this neighborhood often register in the low to mid teens. The limited inventory of homes for sale was the most likely culprit for the reduced number of transactions. This situation was expected as inventory levels have fallen off considerably throughout San Francisco (including Bernal Heights) over the last six months.

The lack of available homes for sale coupled with low mortgage interest rates have created the most dynamic sellers market within the last five years. It’s a great time to be a seller and a challenging time to be a buyer as the competition to purchase a home is fierce. On the buyer’s side, persistence is key along with the ability to move quickly on new listings with your financing pre-approved – so when it comes time to submit an offer you are good to go.

The average price for the February sales was $829,429, up roughly $9K compared to the average in January at $820,125.  The homes that sold last month were on the market for an average of 58 days before going under contract.

The home at 50 Mirando Street was a bank-owned foreclosure sale. The remaining sales were all conventional transactions.

For more information on these transactions or to get the inside scoop on homes for sale in Bernal Heights – give us a call at (415) 829-2996.

Address Type List Price Sale Price Date Sold Days on Market
463 Justin Dr 2BR/1BA $500,000 $581,000 2/27/13 50
50 Mirando St 3BR/2BA $556,500 $603,000 2/25/13 36
4207 Folsom St 5BR/4BA $799,000 $770,000 2/6/13 70
557 Anderson St 2BR/1BA $699,000 $801,000 2/5/13 137
172 Anderson St 2BR/1BA $749,000 $870,000 2/13/13 17
126 Justin Dr 3BR/2BA $899,000 $931,000 2/28/13 83
19 Prospect Ave 3BR/2BA $1,149,000 $1,250,000 2/20/13 14
Average $764,500 $829,429 58

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