How’s The Market In: The Mission

Always a popular neighborhood with urban dwellers who want proximity to good public transportation and hot restaurants, the Mission is continuing to attract new homeowners. The area is a mix of multi-unit buildings and single-family homes, with some lofts and newer construction thrown in. Popular with tech workers who can catch shuttles to the Peninsula by day and cavort along Valencia by night, the Mission is the ultimate urban playground.

Here’s a look at the Mission and its geographical boundaries:

The key with the Mission is being relatively close to shops, restaurants and services. So the streets just off Valencia (or within a couple blocks’ walking distance) usually command higher prices. Additionally, the area around the new Union development on Bryant appears to be in transition mode. Not only did Union sell out rather quickly, but restaurants like Saison, Flour + Water and standby Universal Cafe draw diners from other parts of San Francisco.

Some neighborhoods in the city have definitely been knocked off their highs over the past couple of years. And the Mission has definitely had its soft spots–particularly in the outskirt areas. But a look at the latest stats reveals a pretty solid 2011 market so far.

A total of four houses has sold this year, at an average of $756,250. And 18 condos have changed hands at a $628,056 average. The most expensive unit sold was the $875,000 Victorian 3BR/2BA house with 1700+ square feet on Van Ness at 20th Street.

There are currently 14 condos and three single-family homes on the market, as well as 13 condos and three houses in contract. So it seems like the available condos are keeping pace with those going into contract.

Given that the average selling price points are right in line with the most popular price ranges in San Francisco ($400,000-$800,000), I expect the Mission to hold its own throughout 2011.

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Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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