Driven by Silicon Valley’s booming tech sector, San Francisco’s rising rents have been holding headlines for the past months, claiming their spot among the nation’s highest rents. And while everyone else focused on how much rents had gone up, we thought we’d look at just how much median home prices have been soaring in the past 10 years, while also spotting the most dynamic neighborhoods in all of San Francisco.
An in-depth analysis revealed that the local real estate market has suffered significant changes throughout the past decade, with some neighborhoods taking the spotlight by registering price increases of up to 51%.
As we don’t want to simply throw numbers at you, here’s a nifty map showing all home price changes recorded in the past decade throughout San Francisco, at a neighborhood level:
While prices are on the rise in most parts of the city, Yerba Buena takes center stage, registering a 51% growth within the past decade – with the median price per square foot jumping from $634 in 2003 to an impressive $960 in 2013. Central Waterfront – Dogpatch, Westwood Park, Eureka Valley – Dolores Heights, and Mission Dolores were the runner-ups, each neighborhood registering over 40% growth.
On the less glamorous end of the list, we find Candlestick Point, the neighborhood with the biggest drop in median price per square foot: 17%. While the median price per square foot in 2003 was $522, by 2013 it had dropped to $434.
Oceanview was the sole neighborhood in all of San Francisco to maintain its median price per square foot unchanged throughout the years.
Methodology: In order to determine price changes, we’ve looked at all homes sold last year, pulled out median sale prices per square foot for each neighborhood, and compared 2013 figures to those recorded a decade ago – adjusting 2003 prices by inflation rate for more accuracy.
If you enjoyed our Home Price Changes by Neighborhood map, why not give our other San Francisco Maps a try?