Noe Valley Homes Sell $1M Over Asking

The spring home-buying season in Noe Valley began with a burst of activity, including three sales that topped asking prices by more than $1 million.

Nine single-family homes closed escrow in February, according to data provided to the Voice by Corcoran Icon Properties. That was a notable increase from January, when just two residential properties—a house and a condominium—had sold.

The rebound reflected both a seasonal upswing and an increase in available listings, said Christine Lopatowski, manager of Corcoran Icon’s 24th Street office. “If it’s not out there, they can’t buy it,” she said.

Demand remained high, particularly for updated homes.

“We live in a high-tech area with high-paying jobs,” noted Lopatowski. “AI has come on board, and people are getting really great salaries and stock options.”

Eight of the nine February sales closed above their asking prices, averaging 19 percent over list. Many were all-cash deals, said Lopatowski. Buyer enthusiasm pushed the average sale price over $3.8 million.

Three remodeled Victorian homes accounted for the largest overbids:

A four-bedroom, four-bath home in the 800 block of Douglass Street sold for $7.25 million—about $1.35 million, or 23 percent, above its asking price ($5.9 million).
A renovated 1900-era house in the 800 block of Diamond Street sold for $4.65 million, roughly 33 percent over its $3.5 million list price. It also offered four bedrooms and four baths.
An updated 1890s home in the 100 block of Vicksburg Street, which included a former carriage house, fetched $3.75 million, 39 percent above asking ($2.7 million).

Kevin Ho, a real estate agent with Vanguard Properties, said his clients moved quickly to make a “super compelling and absolutely strong” bid on the Douglass Street house after they’d seen 15 to 20 prospective buyers touring the home the morning of the Super Bowl. “We knew what we had to do to get the property in this competitive market.”

When his clients’ bid was accepted, “they were so excited,” Ho said.

The month’s top seller had been renovated by design-builder Eastwood Development. Though it retained its classic 1900 facade, the house now boasted 3,434 square feet of living space and featured a chef’s kitchen with a waterfall island and Thermador appliances, skylights, high ceilings, sliding glass walls, a family room leading to a deck and garden, a primary suite with a spa-like bathroom, two balconies, a media room with a wet bar, and two-car parking.

The run on homes in Noe Valley also sparked condominium sales.

Buyers paid an average 16 percent over asking for three condominiums in February, up from three in January.

The highest-priced sale was a four-bedroom Edwardian that sold for $2.25 million, about 28 percent above its list price.

Located in a two-unit building in the 1100 block of Dolores Street, the 1,948-square-foot home spanned two levels and featured hardwood floors, classic wainscoting, an eat-in kitchen, new appliances, a deck, panoramic views, and one-car parking.

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The Cost of Living in Noe: Three Homes Sell for $1 Million Over Asking

The Cost of Living in Noe: Three Homes Sell for $1 Million Over Asking

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