BERNAL HEIGHTS 6 MONTH SALES SINGLE FAMILY HOMES
The second half of 2019 has been an exciting one for Bernal Heights. In Q2 we saw 45 single-family homes sold in Bernal Heights. Homebuyers were encouraged with the prospect of cheap financing and sellers benefited from low inventory. As a result, homes sold on average 18+% over listing price. The price per square footage has reached a near-record high at $1,235 per sqft and the median home price reached $1,607,000.
As we examine Q3 single-family home sales in Bernal, we see some minor softening in our local market. 41 homes sold in Bernal Heights in the last 3 months, down 4 from the previous quarter. Typically, with fewer homes sold and fewer homes on the market home prices go up. The median home sales price is up over the last quarter with the median home sale reaching nearly $1.75 million. On average, buyers are bidding 16.84% over listing price, down 1.19% over the last quarter. As we look toward the end of 2019 we continue to see a favorable market. The IPO season continues to create new wealth and sellers will see the value of their properties climb.