Our friends at Downing & Company Realtors bring news of a heathy trend in Bernal Heights residential real estate: Despite continued strong buyer demand, home prices in Bernal appear to have stabilized:
After months of rapid appreciation during the tail-end of 2012 and the onset of 2013 it appears home prices in Bernal Heights have finally bumped up against a glass ceiling. For the last five months the average home price in this neighborhood has been roughly $1 million. The September sales produced the same result. Last month 14 homes sold at an average price of $1,066,661. With plenty of buyers in the market these homes traded hands quickly spending an average of only 24 days on the market before going under contract.
Click through to get more detail from Downing & Co. on the September 2013 home sales shown above.
Bernalwood 
A jumbo 30 year mortgage dipped below 4% again yesterday. First time since spring. Cheap money should keep the home sales moving.
I would not call that place on Highland going for $1.1M “stabilizing.” It needed to be torn down to the studs, probably have some walls re-worked, etc. It had nice bones, but… yeah. Still dumbfounded by the pricing.
Real estate agent is getting worried about the gravy train hitting a ditch. Ooooohhhh….so sorry.