June 2008 RETURN TO HOME PAGE FEEDBACK

Noe Valley home buyers purchased 10 properties in April, and prices continued to hold firm in the neighborhood.

The April sales total was one less than in March and two less than one year ago, according to Zephyr Real Estate, which provides monthly sales data to the Noe Valley Voice.

While the volume was down modestly, the average sales price of $1.5 million was slightly higher than in April 2007. And as they have for the past few years, Noe buyers typically paid more than the asking price. Only one property sold for under $1 million.

Buyers paid $2.3 million for the most expensive property: a four-bedroom, 3-1/2-bath home with 2,600 square feet, in the 400 block of Duncan Street, between Sanchez and Noe streets. The house closed escrow in 12 days.

Condominium sales were noticeably higher than in the past. Seven condos changed hands in April, compared with four in March and two in April of last year. The average sales price was nearly $1.2 million. The condo with the highest sales price, $1.7 million, was located in the 4300 block of 23rd Street, between Douglass Street and Hoffman Avenue. The three-bedroom, 3-1/2-bath condo featured an impressive amount of living space: 3,100 square feet.

Noe Valley Home Sales*

	Total Sales	Low Price ($)	High Price ($)	Average Price ($)	Average Days on Market	Sale Price as % of List Price
Single-family homes
April 2008	10	$935,000	$2,200,000	$1,534,000	17	104%
March 2008	11	$930,000	$3,038,000	$1,875,082	42	102%
April 2007	12	$900,000	$2,675,000	$1,456,250	19	108%
Condominiums
April 2008	7	$800,000	$1,700,000	$1,174,000	31	105%
March 2008	4	$595,000	$1,300,000	$950,000	27	103%
April 2007	2	$1,010,000	$1,400,000	$1,205,000	23	105%
2 to 4 unit buildings
April 2008	3	$1,500,000	$1,575,000	$1,550,000	37	105%
March 2008	0	-	-	-	-	-
April 2007	4	$1,190,000	$1,750,500	$1,580,000	43	112%
5+ unit buildings
April 2008	0	-	-	-	-	-
March 2008	1	$1,550,000	$1,550,000	$1,550,000	75	94%
April 2007	0	-	-	-	-	-

*Sales figures include all Noe Valley home sales completed during the month. In this survey, Noe Valley is defined as the area bordered by Grand View, 22nd, Guerrero, and 30th streets. The Voice thanks Zephyr Real Estate (www.zephyrsf.com) for supplying the data.

Noe Valley Rents**

Type of Unit	Number in Sample	Range of Rents, April-May 2008	Average Rent, April-May 2008	Average Rent, April-May 2007
Studio	5	$1400-$1600	$1499	$1500
1 bedroom	31	$1395-$2795	$1953	$1854
2 bedrooms	22	$2180-$5950	$3016	$2397
3 bedrooms	8	$2800-$5950	$4234	$4125
4+ bedrooms	5	$4000-$9600	$5940	$3995

**These rent averages are based on a sample of 71 Noe Valley rental listings appearing on www.craigslist.com from April 24 to May 14, 2008.