The apples to apples sale of 79 Woodland closed escrow yesterday with a reported contact price of $1,335,000 ($6,000 over asking). Purchased for $1,300,000 in June of 2005, call it average annual appreciation of 0.6% over the past five years for the remodeled single-family Parnassus Heights home.
But we wouldn’t call it a “push” in terms of whether or not it’s fallen from “peak” having appreciated (and then depreciated) since 2005.
We’ll also call the effective pre-tax benefited cost of ownership around $8,000 per month over the past 56 months and let you run your own numbers in terms of rent versus buy from an economic (versus emotional) standpoint.
∙ Parnassus Heights Apples To Apples (And Neighborhood Economics) [SocketSite]
∙ Another Market Metric And Food For Thought At The End Of The Year [SocketSite]
∙ To Rent Or To Buy, That Is The Question (That Only You Can Answer) [SocketSite]