San Francisco Noe Valley
In San Francisco Noe Valley is one of the nicest single family-home–oriented neighborhoods available. The area has always been desirable, of course, but didn’t attain its current ultra-high demand status until the last decade or two. There was a time not too long ago when homes in Noe Valley were notable for selling over $1,000,000. Now they’re notable for selling over $2,000,000—although even that is changing, and quite a few Noe Valley homes have sold for over $3,000,000! Check out this post I wrote last year about just this topic: Remember When Houses Were Just $1 Million in Noe Valley?
Lately the issue on many people’s minds is population growth and the effect it will have on the already stretched housing resources in San Francisco Noe Valley and every other neighborhood in the city. In 2010 I wrote a blog post, “People Moving to San Francisco…That’s Good, Right?” when it was already becoming clear something big was afoot. The knowledge that people are flooding into the city has become more focused, and the word on the street is that San Francisco’s population will head north of one million in the next few decades—by 2032 if an article in the Chronicle is right: “San Francisco at 1 Million: Can Utilities Handle Population Boom?.” That would be pretty mind-blowing! Just forty-odd years ago in the 1970s, the city’s population was decreasing as families headed for the suburbs. Today a tectonic shift is taking place, and people are headed back into San Francisco. This sort of reurbanization is happening all over the world, but the effect it will have on the city by the bay will be eye-opening, I’m sure.
San Francisco Population:
Ten years ago I was walking back to my hotel in Seville, Spain at about three in the morning. I was very lost for reasons I don’t want to discuss, but wine may have been involved. The streets were deserted, but I finally found a couple from whom I could ask directions. During our conversation they asked me where I was from, and when I mentioned San Francisco their eyes lit up. They exclaimed how much they would like to visit the city. They actually said they loved San Francisco although they had never been there. I had been so lost and disoriented just a few moments earlier, but the couple’s reaction to the name of our beautiful city suddenly brought me back to myself. The interaction stayed in my thoughts, and the next day I got to thinking that given how well known and loved San Francisco is as a city, it’s amazing how few people actually live here. Many people, some SF residents even, are surprised to learn there are fewer than a million residents in the City and County.
The question facing us now is: what will San Francisco Noe Valley and every other district and sub-district in our beloved seven-by-seven slice of heaven look like when the city’s population tops a million?
Most people, I think, know the answer; San Francisco will look very, very different. But though you might think so from the news media, this is not a new issue, and in its own way the city has been planning for population growth for quite some time. For example, in 2009 San Francisco adopted the Eastern Neighborhoods Area Plans, which did many things, but in particular allowed for higher-density residential zones throughout many parts of the Mission, Potrero Hill, South of Market, and the Central Waterfront. Take a look here for more information: Eastern Neighborhoods Area Plans
One of the big reasons Noe Valley has become such a popular neighborhood is that it offers single-family homes with a nice shopping area right next to the excitement of the Castro and the Mission, and conveniently located close to both Hwy 101 and Hwy 280— not to mention a quick walk from both the J Church MUNI light rail and Bay Area Rapid Transit (BART) station at 24th Street and Mission. Really, Noe Valley has so many great things going for it. People love the residential feel of the neighborhood and its proximity to the things that make San Francisco so much fun.
For San Francisco Noe Valley still has many homes that will sell for under $1 million; but this is only because homes have not been updated, are poorly located, have a difficult layout, or something that make them challenging to sell. Owners of older homes in the area have a strong incentive to renovate, update, remodel, and otherwise transform their properties. The homes that have sold for over $2 million (actually up to $3 million) are the ones that have had extensive work done, sometimes being effectively torn down and rebuilt new, which in San Francisco can be an arduous task for even the savviest builder. But given how lively the Noe Valley real estate market is, many owners are finding renovation worth the effort and expense.
San Francisco Noe Valley Homes Sold Since 2012:
Over $2,000,000: 51
Over $3,000,000: 13
Over $1,000,000: 180
Under $1,000,000: 38
Let’s talk about your property, or the one you would like to live in!
Give me a call at 415-626-1266, or use the contact form to send me an email.