It’s been a while since we’ve checked in on Bernal real estate data, so let’s check in on Bernal real estate data.
First, the realtors at Downing & Company have compiled one of their periodic round-ups of recent Bernal Heights home sales. They tell us the up-and-to-the-right trend continued in February, with average home sale prices in Bernal bumping up against $1.2 million:
With all the hype surrounding Bernal Heights these days its no surprise to see that home prices were up during February. Last month fifteen (15) homes traded hands at an average price of $1,193,459 – setting a new record high for this neighborhood. While the hype factor is interesting (Bernal Heights is a charming, cool ‘hood in our opinion) keep in mind home prices are up across the city due to a perfect storm of tech job growth, low mortgage interest rates, the low supply of homes for sale, and a ravenous pool of potential buyers. With the Spring home buying season kicking off this week we suspect the market will remain heated.
3 of the 15 homes that traded hands last month were sold as fixer uppers (334 Holladay Ave, 357 Franconia St, and 501 Crescent Ave). The home at 131 Cresecent Ave included an unwarranted studio unit with a private entrance. The sale of 228 Ellsworth St was a rehab flip (it was bought in May 2013 for $705,000).
Visit Downing’s website for a more detailed breakdown of the sales mix.
Meanwhile, Neighbor Michael — aka Michael Minson, Realtor — reports that the year-over-year gains in Bernal Heights property value have been vertiginous:
San Francisco’s Bernal Heights neighborhood experienced a 23.5% increase in estimated home value from Mar 2013 to Mar 2014.
The median estimated home value in Bernal Heights was $973K. The median home value in San Francisco was $870k.
Neighbor Michael also shared a link to these April 2014 Bernal Heights real estate statistics:
IMAGE: March 2014 Bernal homes sold, via Downing & Company