The San Francisco Marina District has more sun per square foot, views of the Golden Gate per square foot and highest median home price per square foot than anywhere else in the city.
The Marina District topped a list of the 20 priciest San Francisco neighborhoods last summer, when measured by the median price per square foot, the San Francisco Chronicle reported.
A Chronicle analysis of Redfin data from June to August found the Marina District on the city’s northern shore had a median home price of $1,437 per square foot. It was followed by St. Francis Wood in the southwest part of town at $1,420, Cow Hollow at $1,373, Ashbury Heights/Parnassus at $1,290 and Presidio Heights at $1,284.
The median price per square foot for homes across the San Francisco metro area was $976 in August.
The price per square foot metric is helpful because it allows potential buyers to compare how much a similar house would cost in different parts of the city, according to Chen Zhao, head of economics research for Redfin.
It also tells how much square footage the same amount of money would buy.
In the top 20 neighborhoods, the median price per square foot ranged from $1,437 for Marina to $1,187 for West Portal Park. In the middle were seventh-ranked Eureka Valley at $1,266, 11th-ranked South Park at $1,240 and 15th-ranked Seacliff at $1,213, according to the Chronicle.
The Marina District was credited for its sunny microclimate, shops, restaurants and nightlife and easy access to Downtown on express buses.
“It’s a fun place to be,” Yulia Mitchell, a Realtor who once lived in the Marina District and now has a listing there, told the Chronicle.
“It’s an old classic San Francisco neighborhood and they don’t have a lot of new construction compared to SoMa or District 9,” she said. “The Marina has no more room to build new projects, there’s not a lot of land and there’s certain limitations on going up.”
The second priciest neighborhood per square foot is St. Francis Wood, a toney area west of Mount Davidson. In June, it was added to the National Register of Historic Places.
Steven Mavromihalis, a Realtor who often sells homes in St. Francis Wood, said most of its homes were custom-built in the 1920s and ‘30s with European design elements. Home and lot sizes are much larger compared to most other parts of the city.
The area has easy access to Downtown and Silicon Valley, is close to top golf courses, and has a growing number of sunny days.
St. Francis Wood is also changing – with newer spots to drink and dine in nearby West Portal, with Stonestown Galleria in the middle of a makeover, and the private Chinese American International School having bought the former Mercy High School campus.
“About five to 10 years ago, the vibe of St. Francis Wood was, ‘That’s where the old people live,’” Mavromihalis said. “Now older people are moving out, and who’s replacing them? Young families.”
— Dana Bartholomew
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