Our friends at Downing & Company have published a new summary of Bernal Heights home sales during May 2013, and it is kind of mind-blowing:
Single-family home prices in Bernal Heights went through the roof last month setting a new record high for this neighborhood in 2013. The average sale price during May cracked the $1 million threshold and came in at $1,088,417.
Home prices in this increasingly popular neighborhood have steadily moved up during 2013. The average sale price in April was $910,559, in March it was $938,091, in February it was $829,429, and in January it was $820,125.
With more and more buyers flocking to Bernal Heights the number of transactions spiked last month. 23properties traded hands spending an average of 40 days on the market before going under contract. 12 of the 23 homes sold for more than $1 million.
Downing & Company has a more detailed breakdown of the properties sold during May on their website, if you are so inclined.
PHOTO: May home sales grid via Downing & Company
Bernalwood 
God Bless Amercia!
3740 Folsom went for $1,625,000 not $652,000
30 Elsie went for $1,118,000 not $880,000.
I refinanced my mortgage on my North Bernal home a couple months ago, and for the first time ever my home appraised for over a million. I honestly did a double-take when my mortgage broker sent me the appraisal, I was not expecting that. I knew values were up, but holy mackerel! That 7-figure appraisal gave me a way better interest rate. If you’re on the fence about refinancing, this is a great time to do it.
Agreed! Our home on the south slope appraised for about 150k more than one and a half years ago and as a result we were able to save about $450 a month
3704 Folsom sold for $6,125,00, not $652,000.
Just a heads up; there are about to be multiple properties for sale on Precita. Contact me for more info.
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