Noe Valley Voice November 2000
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Voice 0011 Noe Buys/Noe Rents

Home Prices and Rents Still Scorching in September

Unlike in August, there were no $2 million home sales in Noe Valley in September, according to figures supplied to the Voice by Zephyr Real Estate. However, the average closing price for a single-family home continued to hover around $1 million, and the least expensive property to change hands was a $248,000 condo.

Meanwhile, Noe Valley rents reached record highs this summer. Numbers listed by Rent Tech Rentals and Roommates showed that the average rent for a one-bedroom apartment soared to $2,056 in September, a 13.7% increase over the June figure. Two-bedrooms climbed 6.6% to $2,908, and three-bedrooms 5.9% to $3,857.

Noe Valley House Sales­September 2000*

Total Sales Low High Average Average Days Sale Price As

(Closings During Month) Price ($) Price ($) Price ($) on Market % of List Price

Single-family homes

14 680,000 1,535,000 954,761 25 113%

Condominiums

6 248,000 950,000 603,333 35 108%

2 to 4 unit buildings

5 575,000 1,775,000 889,800 33 114%

5+ unit buildings

1 717,500 717,500 717,500 21 90%

Noe Valley House Sales­August 2000*

Total Sales Low High Average Average Days Sale Price as

(Closings During Month) Price ($) Price ($) Price ($) on Market % of List Price

Single-family homes

15 510,000 2,280,000 995,266 31 119%

Condominiums

5 465,000 950,000 653,000 17 107%

2 to 4 unit buildings

4 800,000 1,300,000 1,032,500 16 119%

5+ unit buildings

1 1,500,000 1,500,000 1,500,000 21 126%

Noe Valley Rentals**

Average Rents Average Rents % Increase (+)

Apartment Size (July ­ September 2000) (April ­ June 2000) or Decrease (­)

Studio $ 1,194 / mo. $ 1,212 / mo. ­ 1.5%

1 bedroom 2,056 / mo. 1,809 / mo. + 13.7%

2 bedrooms 2,908 / mo. 2,730 / mo. + 6.6%

3 or more bedrooms 3,857 / mo. 3,641 / mo. + 5.9%

*Information provided to the Noe Valley Voice courtesy of Zephyr Real Estate (www.zephyr-re.com) and based on all Noe Valley home sales (closings) recorded during month. "Noe Valley" in this survey is defined as the area bordered by Grand View, 22nd, Guerrero, and 30th streets.

**Data based on Noe Valley rentals listed by Rent Tech Rentals and Roommates (www.renttech.com).