As we wrote about the renovated Noe home at 3715 22nd Street in January:
Listed for sale at $2,750,000 in 2010, the “exquisitely renovated [with] hi-end finishes & impeccable detail” Victorian home at 3715 22nd Street ended up selling for $2,500,000 that October, which included the legal one-bedroom unit below and Noe Valley views.
Back on the market and listed for $2,825,000, a sale at asking would represent annual appreciation of 5.7 percent over the past two years for the Noe Valley property on an apples-to-apples basis, total appreciation of 13 percent since the fourth quarter of 2010.
The sale of 3715 22nd Street closed escrow last week with a reported contract price of $2,890,000. Call it total appreciation of 16 percent since the fourth quarter of 2010 for the Noe Valley single-family home on an apples-to-apples basis, effective annual appreciation of 6.7 percent over the past two years.
Over the same two years the S&P 500 is up 28 percent, up 16 percent since May of 2012 when Facebook, which is currently trading at $30.16, went public at $38 per share. We’ll let you decide which is having more of an effect on the market.
Speaking of Facebook and Noe, the list price for the modern home at 1507 Noe Street was reduced to $3,399,000 in January.
∙ Renovated Noe Valley On An Apples-To-Apples Basis Since 2010 [SocketSite]
∙ Look Past The Overhyped Facebook Effect [SocketSite]
∙ Facebook On The Home Front [SocketSite]
∙ The Facebook Effect On Noe [SocketSite]