Get Your Slice of San Francisco
In the market for your own slice of the city near your favorite slice of pizza? I took a look at property values and sales data as reported to the MLS for condos and TICs within 1/4 mile of a handful of the city's most popular pizzerias.
When looking at average price versus volume, the area around Zero Zero in SOMA interestingly shows the lowest average price and the highest volume. This may indicate that it's a good place for first-time buyers to look for starter homes. By contrast, Tony's Pizza Napoletana in North Beach shows the highest prices on average with the lowest inventory. North Beach has always been extremely desirable, so this comes as little surprise.
One of the areas undergoing the biggest change is around Ragazza. While their location technically puts them in the Haight designation, they are on the cusp of three Central North areas: Hayes Valley, Alamo Square and North of Panhandle (NoPa). Great transit, and a burgeoning food scene has made lately this a very desirable location. Consequently, homes here have been going for the highest amount over asking in this data pool, so if you already own in this area, it may be a good time to sell. Still, this neighborhood probably has many years of growth in store. It brings to mind what the Valencia Corridor looked like 15 years ago.
Interestingly, two popular pizzerias that are technically in the same district show fairly different results. Mozzeria, the Neapolitan pizzeria on 16th Street in Mission Dolores, picks up some heat from the ultrahip area around 18th Street, home to Bi-Rite Market and Tartine Bakery, as well as two other very popular pizzerias, Pizzeria Delfina and Farina Pizza. The area has been hot since the '90s, and continues to be today. Pauline's, just a few blocks away, is in a historically quieter part of the neighborhood, though things are picking up with the addition of businesses like 4505 Meats. But with average price per square foot about 18% lower (again, as reported to the MLS), it just goes to show that sometimes all you have to do is look a few blocks further to find a potential home.
Meanwhile, in the Inner Mission, Flour + Water has helped rise the values in its area, with a newly hot food scene including Trick Dog, Central Kitchen/Salumeria, The American Grilled Cheese Kitchen and Local Mission Market. This area was once overlooked and undervalued, but no longer, making this another area where property owners may consider taking advantage of the hot market.
Hungry for your new home? Contact me, and I'll help you find a piece of San Francisco all your own.
Infographic and content based upon data reported to SFARMLS for sales of condos / TIC within a quarter mile of subject restaurant from September 20, 2013 to March 20, 2014. Information is deemed reliable but is subject to modification.