What is the average price per sqft for condos in the Castro?

Asked by spynkist, San Francisco, CA Sun Apr 26, 2009

I am thinking of making an offer on a condo in the Castro and am looking for information that will help me feel more comfortable with a number I will be naming. There are a lot of parameters, like layout, condition, views, and more (as they say, it's all about location-location-location) but knowing the average price per sqft for condos in the area will be very helpful in getting a sense of where I am standing.

Does anyone know what the average proce per sqft for a condo in the Castro is?
Alternatively, where can I find this info?

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Answers

2
Colm Glass, Agent, San Anselmo, CA
Thu Dec 31, 2009
Hi Oz:

Quick answer to your question: I work exclusively with buyers and have had clients pay from the mid $400's per sq ft to $650 per sq ft for condo's in the area. It really depends on your price-band, the size of the unit, block, if parking is included and of course the finishes.

The following was just posted to Yelp by a grateful client who was very analytical in his search:

My wife and I just closed on our new home in November with Colm and really enjoyed working with him. What really makes him stand out is that he gives a rebate without sacrificing his level of service. We received a rebate of $7450 when we closed - it's a pretty hefty sum and very useful in furnishing our new home. :)

Before meeting Colm, we tried other bigger rebate realty companies like ZipRealty and Redfin. But we weren't very satisfied with their service. We got a lot of pressure from ZipRealty to make high offers and close quickly. And all Redfin would do is meet us at listed homes. They wouldn't drive us on the tours and didn't offer much in the way of advice at all.

Colm is in a class of his own - a full service broker with a rebate. He made us listings of properties he thought might be right for us and encouraged us to leave comments on them to help him better tune his sense of what we're looking for. When we found listings on our own, he reviewed them and offered his expert advice on them, pointing out both good and bad. On our tours, we also offered his advice about potential pitfalls and possibilities for improvements to boost the value of the home. We went on a lot of tours both during the weekdays and weekends, but never felt any pressure to buy.

We'd been looking for a while before meeting Colm and were getting tired of the hunt. Soon after meeting Colm, we were ready to "settle" for a condo we saw. But Colm actually encouraged us to keep looking for a few days before we jump into such a large decision. We later decided that condo would need more work than we were willing to put up with. He's more concerned about finding us a home that fits us than closing the deal and moving on. :)

When we did make offers, he evaluated the property and our feelings about it to suggest reasonable offer amounts. He never made us feel like it wasn't worth our time to make a low offer.

When we found our home, we wanted to ensure closing before Thanksgiving. Colm kept track of everything and stayed on top of it all to ensure a smooth, on-time closing within three weeks. Even after closing, he continues to demonstrate his commitment to his clients.

During closing, I selected a home warranty company. Colm suggested one, but I went with mine because of reviews that were slightly better. It turned out that my choice doesn't start the policy for a month. That's pretty significant when moving into a new home since the whole point was to cover any potential problems that might arise. Colm's out there fighting on our behalf to get the waiting period waived or get a refund so we could sign up with another warranty company.

I'm sure there're a bunch of realtors out there that provide excellent service. And there're a bunch that provide commission rebates. But I think we've been really lucky in finding Colm and getting both.
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Cheryl Bower, Agent, San Francisco, CA
Mon Apr 27, 2009
Hi Orie,

If you're working with an agent, he/she will be your best resource for this information. Your agent can pull from the MLS recent sales of condos in the neighborhood to help determine approximate value for the condo that you are considering.

It’s very difficult/impossible to try to give an average price per square foot without knowing the size/features of the subject property. Price per sq. ft. tends to go down as the footage for the living space goes up. A deeded parking space also adds value to the property and won’t be factored in with the square foot approach. To give you an idea of the price range per square foot, a 732sf condo sold at a price which breaks down to $854/SF whereas a 1541SF condo (a beautiful Zephyr listing) sold at $533/sf.

There are also other variables as you’ve mentioned including floor plan, views, quality of finishes not to mention if the property is well priced property & shows well which can generate multiple offers.

If you don't have an agent, hire one ASAP!!! There really isn’t an easy, accurate way to pull sales data other then through a MLS member. And even then, it’s ideal that your agent has seen some of the sold properties since there are so many variables which affect value.

I’m happy to be a resource. I frequently tour district 5 & know the inventory. Zephyr also has the market share in D5 meaning that if it’s a Zephyr listing, I’ve very likely seen the property.

Best wishes,

Cheryl Bower, Realtor , GRI, ABR
Cell 415.999.3450
Zephyr Real Estate
Cheryl@cbower.com
http://www.cbower.com
Web Reference:  http://www.sfbungalow.com/
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