The Bernal Heights microhoods are backing off the $2,000,000 median price this year. For the first time in a while, no microhood hit that single-family home median price.
Bernal overall is doing well this year. The median single-family home price in the January-June 2019 time period was $1,460,000—down 11% from the same time period in 2018.
Buyers have paid an average overbid of approximately 15 percent in the first half of this year. And of the 71 homes sold, 28 saw buyers pay 20% or more over the list price (with eleven paying in cash).
But it’s time for a microhood update. As my regular readers know, I created the Bernal Heights microhoods back in 2014 to help prospective buyers and sellers get a more refined sense for single-family home values in the neighborhood’s distinct geographical areas.
Here’s how our microhoods stacked up in the first two quarters of 2019 (click on each pic to enlarge, red dots represent homes sold):
1. Northwest Slope
Single-Family Home Median Price: $1,635,500
Most Expensive: 112 Elsie (4BR/2.5BA, 2240 sq ft | $3,000,000)
Least Expensive: 340 Winfield (2BR/1BA 750 sq ft | $1,040,250)
# Homes Sold: 10
# Overbids Above 20%: 5
The Northwest Slope made a strong showing, as usual. The high flyer in this batch was the small house with complicated expansion potential and a postage stamp kitchen at 156 Bonview. Listed for $999,000, the home sold for $1,550,000. Continue Reading