Presidio Heights, Sea Cliff most expensive San Francisco neighborhoods in 2009

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With a median sale price of $2,900,000, Presidio Heights was the most expensive neighborhood in San Francisco County in 2009. Fifty homes sold for over $1,000,000 in the neighborhood, increasing the median sale price by  58% over the 2008 median sale price of $1,830,000.

3855 Washington Street was the most expensive home to be sold in the neighborhood. This property, listed by Sotheby’s, has its own website and has undergone a multi-million dollar renovation prior to its listing, according to SocketSite.com. It hit the market with an asking price of $8,000,000 and was sold for $8,100,000 in November 2009.

Sea Cliff, the most expensive San Francisco neighborhood in 2008, had a median sale price of $1,800,000 in 2009 compared to its 2008 value of $2,680,000. However, it boasted the most expensive sale in San Francisco County for 2009.

300 Sea Cliff Avenue sold for $18,000,000 in September 2009, 59 months (!) after it first hit the market with an asking price of $23,500,000, according to SocketSite.com. There’s been much speculation about the true buyer of the property, which property records show to be Tawaraya LLC  while other media sources have indicated Tom Cruise ( Curbed San Francisco)  or Oracle CEO Larry Ellison (The Real Estalker).

St. Francis Woods was the third most expensive neighborhood, with a median sale price of $1,605,000.  The median sale price rose 10% from the previous year ($1,458,500), but the number of sold homes slid from 36 in 2008 to 23 in 2009.

The most expensive sale in the neighborhood was well below the highest prices paid in Sea Cliff and Presidio Heights. 120 Santa Ana Avenue was sold for $2,760,000 on 9/10/2009, becoming the most expensive sale in the neighborhood.

Although the neighborhood was not present among the top San Francisco neighborhoods by median sale price, Pacific Heights had its share of glory, having the second most expensive sale in San Francisco County in 2009.

2510 Jackson Heights was the second most expensive home sold in 2009 in San Francisco County. The property was foreclosed upon in April 2008 and bought by Robertson Stephens Inc. for $6,100,000, our property records show. It hit the market with an asking price of $14,900,000 and sold for $11,500,000 in July 2009, resulting in a $5,400,000 gain for Robertson Stephens Inc.  SocketSite.com and San Francisco Gate have more on the story.

Note: For the purpose of this report we have analyzed single family homes and condo units.