As a realtor, I’m always interested in the neighborhoods that people want to live in. Noe Valley, Mission Bay, SOMA, Glen Park and Hayes Valley always come up, but as buyers have started to get priced out of these neighborhoods new ones are starting to draw interest: Mission Terrace, Sunnyside, Excelsior. One neighborhood that was always under the radar but is drawing interest is Miraloma Park. As a Miraloma resident since 2013, I’ve always known that this neighborhood is a gem.

Not only does Miraloma Park have great views of the Bay, city, and ocean, but with Mt Davidson, we have the highest mountain in San Francisco (928 ft) besting Twin Peaks by 3 feet. Freeways are just minutes away (when there’s no road construction or gas pipe work), which increases the ability of residents to commute down south or even to the East Bay. The 36 and 44 bus lines give us easy access to the Forest Hill Muni, and Glen Park BART stations. And let’s not forget our high-end supermarket, Mollie Stone’s, and the CVS and other commerce on Portola. People friendly, and there’s tremendous pride in home ownership. When I first moved to the neighborhood, I was surprised to see how clean the streets are despite there not being any street sweeping.

Let’s also talk about real estate. Comparing Miraloma Park sales for the first six months of 2017 to 2018, we see that the market is still very strong.

• New listings increased from 31 in 2017 to 34 in 2018, which represents a 9.7% increase. More listings are good for buyers because there’s more inventory, but also benefit sellers by bringing in more traffic to the neighborhood.
• Sold listings increased from 22 to 26. Even though there is more inventory, sellers are still able to sell their home.
• Percent of selling price over list price increased from 117.4% to 128%.
• The median sale price has increased from $1.3M to $1.52M which represents an increase of 16.8%. Despite the increase in inventory, prices have continued to rise.
• Days on market has dropped from 17 days to 14 days. Not only are homes selling, but they’re selling faster this year than last.

While there is more competition this year due to increased inventory, in the first six months of 2018, Miraloma Park homes are selling faster and for more money than last year.

However, with the recent changes in trade policy, the interest rate increase, stock volatility, and changes in the tax code, it is hard to predict if this trend will continue. If you are thinking of downsizing or selling your home, now might be the time.

As a Miraloma Park resident, I care about our neighborhood and its home values. Please give me a call to discuss your options or fill in the form below. I would love to chat with you and give you a free home value estimate.