In comparing values in 2010 to 2009, only 2 (real estate district) D10 neighborhoods saw an increase in median home price, and that was in Bayview and Bayview Heights. All of the other neighborhoods were down, with Mission Terrace being just slightly down (-1.5%) and Hunters Point being substantially down (-46.5%).
The least expensive D10 neighborhood was Hunters Point, with a median price of $110,000, while Mission Terrace came in as the most expensive with a median price of $571,500. If we try and attempt to adjust for difference in average size by neighborhood and look at price per square foot (which has other issues, as I’ve discussed), then we see the exact same results with Mission Terrace coming in at $459 per square foot and Hunters Point coming in at $94 per square foot.
District 10 has never been known as housing expensive neighborhoods, but I do think that these neighborhoods are where San Francisco has seen some of the greatest impact from the fallout of predatory and just-bad-idea loans that have led to a significant number of short sales and REO properties.For real estate district D9, which includes political D10 neighborhoods Potrero Hill, Dogpatch, Matt Fuller writes the following,
In comparing values in 2010 to 2009, only 2 D9 neighborhoods saw a decrease in median home price, with South Beach being barely down (if we round to the nearest whole number it is flat) and Mission Bay being down about 15%. All of the other neighborhoods were up, the Inner Mission turning in the strongest performance with a 11% increase in median sale price year over year.
The least expensive D9 neighborhood was South of Market, where lofts sales and smaller condos have taken a beating, reporting a 2010 median price of $570,000, while the not-yet-finished Mission Bay neighborhood came in as the most expensive with a median price of $838,000. If we try and attempt to adjust for difference in average size by neighborhood and look at price per square foot (which has other issues, as I’ve discussed), then we see South Beach as the most expensive at $738 per square foot and Dogpatch as the least expensive at $508 per square foot.