It’s that time again! Danielle Lazier, Bernalwood’s realtor-in-residence, is back with some insight into the workings of the neighborhood real estate market. Over to you, Danielle:
So where the heck is Bernal anyway?
Yeah yeah, I know there is an ongoing border dispute (at least in the blogosphere and local bars) regarding the appropriate boundaries of Bernal Heights, the Mission, and even Glen Park and Noe Valley. But when it comes to real estate, the San Francisco Multiple Listing Service map is the one that matters.
Whether you agree with the map or not, understanding the borders of a neighborhood (and what MLS sub-district you’re in) is very important when house-hunting or determining the accurate “market value” of your home for a listing or refinance. Other agents, buyers, and the appraiser sent out by the bank will all base their “comps,” or comparable home sales, on the MLS sub-district — and NOT by zip code (hello, Zillow!) or even citizen consensus (hello La Lengua Revolutionary Army).
From Cesar Chavez to Alemany, from 101 to 280, Bernal Heights encompasses a large area and has a lot of different micro-hoods. Per the MLS, it is called District 9A.
OK, so now let’s do a quick market update…
Summer is typically a slow selling season for real estate. Between school vacation, summer trips, and the “better” weather, folks are just busy doing other things.
This year, we have both the usual summer slowdown and the recent bout of economic malaise to make thingscomplicated. Yet in Bernal Heights, we continue to see more “ready-to-buy” home buyers than houses for them to buy, especially in the more desirable parts of the neighborhood.
Houses near Bernal Village — central Cortland — are the most popular, and they tend to sell quickly, receiving multiple offers over the asking price. That has certainly has been true for the last couple of sales. For example, 125 Andover received 4 offers in the first week. Let’s look at the stats:
Single Family Homes near central Cortland Ave over the last 90 days:
- Average Days From List to Close of Escrow – 44 Days
- Average % of Sales Price/List Price – 101.31%
- Median Sales Price – $826,000
- Highest Sales Price – $1,295,000
- Lowest Sales Price – $450,000
Finally, here on Bernalwood, I’m happy to answer any questions you have about Bernal Heights real estate, so send us your question (bernalwood *at* gmail dotcom) and I’ll make up a good answer!