Since the sale of CBS’s infamous “42 offer home” at 555 Edinburgh closed escrow in April of 2009 for “24 percent over asking” (and calling a “real estate rebound“), the median sale price per square foot for homes in 94112 has declined 11 percent to $405.
Yesterday 458 Edinburgh hit the market in 94112 asking $499,000 ($399 per square foot) having been purchased in July 2005 for $770,000 ($616 per square foot), a 35 percent decline in value over the past five years at asking.
As plugged-in people know, 454 Edinburgh right next door which looked to be in a bit better than median shape (and which we rather liked), closed escrow in May for $608,000 ($434 per square foot).
Keep in mind that housing stock in the neighborhood is relatively homogenous in terms of age and size, and the neighborhood hasn’t seen a lot of new development or major remodels which can quickly change the mix of reported neighborhood sales and stats.
∙ The SocketSite Reality Check For CBS’s Infamous “42 Offer” Home [SocketSite]
∙ 555 Edinburgh Sells For 24% Over Asking (The Neighborhood Median) [SocketSite]
∙ CBS Calls It A “Real Estate Rebound In San Francisco” [SocketSite]
∙ Our Divining Rod Strikes 454 Edinburgh [SocketSite]
∙ Divining The Condition Of A Potentially Divine 454 Edinburgh [SocketSite]