Happy May! I can’t believe another summer is almost upon us. Will things keep heating up, or will we see the lull that so many are anticipating due to it being the first summer in a long time where many people are planning on traveling? Personally, I’m not going anywhere this summer as I’ve got too much to do right here!
April was interesting. Interest rates were climbing, and the stock market was all over the place (and of course it’s gotten even more frantic here in May). Amidst all of that chaos, a couple of factors remained stable in terms of real estate in Glen Park, inventory was still sorely lacking and demand was still very high. As we can see looking at the numbers below, these factors led to similar outcomes as in previous months—homes sold quickly, and for well above the original list price. (There is one exception on that list, but it’s definitely a special case property!). Though I’m sure climbing interest rates and the stock market have both buyers and sellers on edge, it remains to be seen if those factors will at some point have an effect that keeps homes from flying off the market at high prices. My guess is that we will see a gentle slowdown, which frankly isn’t the worst thing in the world. Sellers will still be getting great prices for their homes and buyers can start to breathe a little.
Looking at currently active properties, I want to point out the highest price property ever to see the market in Glen Park, 2 Everson. This property is not for the faint of heart (or light of wallet.) If you look at some photos of the property, you will see that the sellers are not asking for something for nothing, it’s a pretty amazing property and the views go on for days. If this property sells for its current list price, it will be the highest priced sale in Glen Park history. The current highest sale was 143 Laidley Street, which sold for $9.7 million in 2018. If you are interested in 2 Everson I’d be more than happy to help you in your aspirations, so please don’t hesitate to reach out. Or, if you are interested in something more down-to-earth, 221 Mateo is still available, and offers the opportunity to buy a nice single family home in Glen Park for a fair chunk under $2 million, which is pretty rare in these parts in 2022.
Glen Park Real Estate Time Machine
- APRIL 2022, the Median House Price in Glen Park was $2,570,000
- 5 years ago in 2017, the Median House Price in Glen Park in April was $1,287,500
- 10 years ago in 2012, the Median House Price in Glen Park in April was $802,750
- 15 years ago in 2007, the Median House Price in Glen Park in April was $1,067,100
- 20 years ago in 2002, the Median House Price in Glen Park in April was $680,000
- 25 years ago, in 1997, the Median House Price in Glen Park in April was $319,000
Interesting to look at these numbers. April of 2007 was the height of the market before the crash and as you can see, in 2012 it was only just starting to recover. By 2017 things were going gangbusters again. And now…well, it’s been a big increase over the past five years!
That’s it for April. I’ll be back in June to report on how things ended up in May. Until then, enjoy this beautiful Spring weather.
For more San Francisco sales data, visit: thegoods-sf.com/AmandaMartin/