November 13, 2008

Hot Properties: The $5M Club

In October 2005, the most expensive single-family residence ever sold in Noe Valley went for $5.3M to a former Google employee. The house at 526 Duncan St. was even referred to as The House That Google Built by The Noe Valley Voice. Google's share price at the time? About $300 and climbing.

526 Duncan Sep 2008Well that record price has been broken. With an asking price of $6,250,000, 625 Duncan St. recently closed for just a bit under $6M after days on the MLS. [EDIT: other sites have disclosed that this house closed for $5.818M] That's way over $1000/sf! No word on who bought it, but with all the speculation on real estate sites that Google is driving Noe's home prices it's worth noting that GOOG is currently $312/share after topping out over $700. (If you'd like to know the exact selling price of this and other properties, sign up for updates on San Francisco Schtuff.)

If Google is driving the high-end of the real estate market, and the stock keeps recovering, then perhaps 3816 22nd St. still has a chance of setting an even higher record. Will it break that $6M barrier...?

But seriously... is Google driving Noe Valley home prices? We don't think so, but would love to hear your opinions.

[MLS: 625 Duncan St]
[MLS: 3816 22nd St]
[NVSF: Hot Properties: Reduced]