OceanView Village Property Values 2015

By:
Eric Castongia
Broker Associate

Another banner year for OceanView Village

427491-23_0 A phenomenal 2015 for owners at OceanView Village; 28 owners took advantage of the market this year. All units in the complex enjoyed the fruits of the market to varying degrees.

Most enjoyed multiple offers and over asking prices, if they took advantage of value pricing, which generates interest and gets buyers in the door.

The sold prices ranged from $10,000 below asking to $82,000 over asking. Where a home fell in that range depended on where it started in list price and what else was on the market the same week. Generally, those who started high, took less. Where you were in building contributed of course; top floors, corners, good views and patios dominated.

One bedrooms saw amazing appreciation of between 25 and 39% appreciation for the year, while two bedrooms saw between eight and 14%. Two bedrooms retreated in value in the last quarter by approximately three percent, highlighting the upward pressure on the least expensive starter homes.

A surprising twist: the 669 square foot one bedrooms sold for more than the larger one plus dens in the final quarter of the year.

In the end, OceanView Village has been found, being one of the last remaining affordable condo options in San Francisco-and it’s about time.

 Eric Castongia, Broker Associate at Zephyr Real Estate (BRE Lic. No. 01188380) provided the information in this article. The content of this article is an interpretation of data from the San Francisco Multiple Listing Service and Eric’s observations in the marketplace; he is available to discuss your situation or any questions you may have. He can be reached by e-mail at Eric@SFHotBuy.com, or via mobile phone at (415)307-1700.