Friday, January 4, 2008

Glen Park

It is time to dive back into our neighborhood series. Glen Park, otherwise known in the real estate world as District 5A, is a small community just south of Noe Valley. It is a very family oriented neighborhood with a village feel. It is possibly best known for the BART station, a huge draw for home buyers with a downtown or east bay commute. The station is located right in neighborhood's center, at Bosworth and Diamond. Glen Park is also served by the Muni bus lines 23, 26, 35, 44 and 52 plus the J Church Muni Metro line.

Just across the way from the BART station, there is a newer mixed use development consisting of the Glen Park Market Place, a branch of the San Francisco Public Library, and condominiums. The residents of the community take their "village" seriously as they had to fight to keep big chain businesses out of their center. Close by you will also find a very popular taqueria, a pizza parlor, a wonderful breakfast spot, a cheese shop, and many other small businesses. There are also two public elementary schools in Glen Park, one of which has an English-Spanish immersion program.

So what does it cost to live here? As mentioned earlier, Glen Park lies just south of Noe Valley. It is also just west of Bernal Heights. It just so happens that it is between those two neighborhoods in price as well. It is generally thought of as being a step up in price from Bernal Heights, and a step down in price from Noe Valley.

One problem about Glen Park for those of you who are interested in living there is that there usually is very little available. Again, that speaks to how dedicated the residents are. It is mainly a single family home neighborhood with the mixed use development and a few other small condo developments sprinkled throughout.

In the past six months, thirty two single family homes were sold in Glen Park. At the lower end, there were a couple of "contractor's specials" in the $600,000 range. The highest sale in the past six months was a "beautifully refurbished" three bedroom home with panoramic views of the city which sold for $1,650,000.The average price is just under $1,025,000. There are currently only five homes available in the Glen Park neighborhood, and all of them have been on the market for a minimum of 50 days. This is not to say that homes aren't selling. In Glen Park they actually sell quite well. These five homes are what is left after the plate has been picked through. One is on a busy street, another is a tiny cottage, another is get the idea. We are waiting; our clients are waiting, for new inventory.

Anyway, the closest example to a home that is currently available in Glen Park close to the average price would be 62 Lippard Ave listed at $1,295,000.We know, that is well above the average, but it is also way overpriced. It is a nice house in a great location and they have done some extensive remodelling, but it is small with a tiny garden.

A great example of a home that just recently sold at almost exactly the average price is 326 Surrey Street. This is a two bedroom, two bath, 1100 square foot remodelled Victorian farmhouse. It was listed at $949,000 and sold for $1,025,000 on December 14, 2007. They accepted an offer after being on the market for only one week.

Those of you hoping to become part of this village just need to be patient. There will be more available in the coming months.

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