San Francisco, with all of its LGBT-positive attributes, is also a city where the price per square foot is rapidly rising. As of spring 2013, our San Francisco gay realtors have noted that the price per square foot is a whopping $615, which is a 16.9% rise compared to last year.
Going along with this general trend is the median home sales price that has a 23.4% increase in price since last year for the first quarter of 2013. At the same time the number of home sales decreased 30.1%, showing a clear lack of inventory.
For the most part housing prices are rising all over San Francisco except for one neighborhood ~ Mount Davidson Manor. This is quite a wealthy upper middle-class area with many of the inhabitants being in sales or upper management jobs. The neighborhood is located up the side of Mount Davidson, which is the highest natural point in San Francisco with an elevation of 928 feet. The neighborhood is surrounded on three sides by parkland and at the top of the hill is a giant white cross. There is currently only one home for sale (as of April 30, 2013) and only 7 sold in the past year. Homes are rarely for sale here and the rents are quite high.
It is quite difficult to find a house below a million dollars in the tonier, desirable neighborhoods such as Pacific Heights, South Beach, Noe Valley, Castro and So Ma. The area of Castro has had the lowest median sales price of those popular neighborhoods with a median sales price of $1,140,000.00 and an average listing price of $1,084,601.00 for the first quarter of 2013. The neighborhood of Castro, located in Eureka Valley in the city, is also a major gay enclave. In fact Castro was one of the first openly gay neighborhoods in the United States. San Francisco’s gay village is mostly concentrated in the business district located on Castro Street from Market Street to 19th Street.
One of the less expensive places to live is the Noe Valley, which is just south of the Castro neighborhood. The borders of this neighborhood are considered to be from 22nd Street to the north, Randal Street to the south, Dolores street to the east and Grand View Avenue to the west. The area contains many wonderful examples of the traditional Edwardian and Victorian row house architecture for which San Francisco is well known. This former working class neighborhood has been nicely gentrified and many of the remaining facades of the homes are intact.
Compared to other gay-friendly high-end neighborhoods Noe Valley is appreciating value yet not skyrocketing in the region of 60% to 70% as is true of the Mission Dolores and the Laurel Heights Neighborhoods in San Francisco with an escalation in listing prices of 18.9%.
There are many reasons to move to this great metropolis and there are many San Francisco gay realtors in the area that will be more than willing to show you the latest properties on the market!