Valentine’s Day miracle?
Mission District poised to be SF’s most desired neighborhood. Indeed, the Mission District is making national news as an up-and-coming neighborhood that’s actually arrived– at least according to record breaking home selling prices in the 94110 zip code. As CurbedSF reports, “It’s a bit of a Cinderella story: What was once a lowly stepchild, cowering in the shadow of real estate giants Noe and Castro, has emerged…and suitors are lining up.” In January, online brokerage Redfin predicted the Mission would be among Bay Area locations to witness the steepest home price increases in 2013, largely due to new interest in the area spurred by SF’s blowing up tech industry. The Mission offers easy access to both Silicon Valley and local firms like Twitter, Yelp, and Zynga, a plethora of new businesses aimed at tech execs, as well as some of the city’s better weather. In the past, it also offered its share of grit: lower home prices reflected the blue collar nature of most residents, as well as higher crime rates than other parts of San Francisco. But now, though grit still exists, glitz too has arrived to the neighborhood.
3450 21st St. is another Mission home: This one sold for a record $9,999,000 in November of last year. If you think almost $100 million dollars seems like a lot to shell out for a Mission District home, you’re right: “The price could be a record for the increasingly trendy neighborhood, based on a search of the San Francisco Multiple Listing Service’s records for the last 30 years” says the Wall Street Journal. Those same records show the last sale in 1997 at $1.2 million.
To check out the full article with examples of housing price trends from SFGate, please click here!