There was a good turnout of 36 walkers and two K-9 best friends on a cloudy morning this Wednesday at the Exedra for our Piedmont Recreation Department’s Walking on Wednesdays weekly walk.
We admitted we find the local real estate market pretty interesting and it was going to be the morning’s subject. The unofficial start of the home buying season was the Presidents Day holiday weekend. Buying heats up now and goes strong through the end of May.
According to Realtor.com the US median home price in January was $409,500. Prices were 3.3% higher than the year prior on a per-square-foot basis. They seem higher in Piedmont too. However, Zillow says the average Piedmont home’s value is $2,440. 301, down 1.2% versus year ago.
A lack of homes for sale is a common factor throughout most markets, and that’s true in Piedmont. Zillow had only five Piedmont homes listed for sale, along with a 6,897 square foot Scenic Avenue lot that is priced at $895K. The homes’ prices ranged from $925K to $14,500K. Walker/realtor Marci Negron said homes are again being listed below what sellers think they will
sell for with the hope of creating bidding competitions.
We could see three of the listed homes, along with five sold recently, by going to the south side of the city. To add to the fun, all the walkers were given $14,500K in “Piedmont Real Estate Fantasy Dollars” to make imaginary offers.
We started off for Wildwood Avenue. Our parade of walkers stopped traffic when we crossed Highland Avenue to go up to 49 Sierra Avenue. It’s a 1914 Julia Morgan-designed three bedroom/ three bath, 3,223 square foot home that sold last July for $3.2 million. Architect Will Adams had included in it a Julia Morgan tour he led two years ago.
Next, it was down to Sheridan and Wildwood Avenues. On the corner is a four bedroom/four bath, 4,792 square foot Monterey Colonial that sold in February for $4.5 million to a nice Irishman who works in tech. It’s on a lot surrounded by terrific gardens that we have enjoyed many times. We went up to 500 Wildwood at the corner with Crocker. The For Sale sign had just gone up this week. This six bedroom/3.5 bath, 3,367 square foot home was built in 1920. It’s a beautiful Craftsman home with over 1/3 of an acre of gardens and a pool, and is listed at $3,095K. Architect/walker Jim Kellogg said it was designed by John Hudson Thomas who was a contemporary and competitor of Julia Morgan. The house's steps provided a great spot for
the attached group photo.
We continued on Crocker to Lafayette Avenue and Muir Avenue for three more homes. The first was at 7 Muir. According to Zillow you can “experience timeless elegance in this stately Georgian masterpiece. Designed by Albert Farr in 1930 … it is beautifully sited on over 1/3 of an acre and offers grand proportions, wonderful amenities and breathtaking San Francisco Bay views.” It’s got six bedrooms and eight baths in 6,423 square feet. It was the most expensive home of the walk at $6,495K.
Just down the street in the middle of the block is a classic 5 bedroom/5 bath home of 3,940 square feet built in 1925 that sold in February last year for $4,925K, $60K less than the asking price. Zillow says it’s worth $5,412K now. The new owners had planted two large olive trees on the sides of the entry walk for an even more attractive street presence.
At the end of the block was a five bedroom/3.5 bath home built in 1932 at 35 Muir. Zillow says, “This grand Tudor is sited on an elevated corner lot, the classic half-timbered façade, sweeping slate roof and ornamental chimney make an impressive statement.” It was listed for $4,595K, but there was a Sale Pending sign on it. Unfortunately, we had missed our chance to make an
offer.
We turned up LaSalle Avenue to make our return to the Exedra, but there was one last home at 345 LaSalle to see. It’s 3,619 square feet with four bedrooms and six baths, and was built in 1979. Zillow says it is a “fully renovated modern mid-century ranch house, mostly on one level, the cosmopolitan pied-à-terre offers four en-suite bedrooms, bonus room w/full bath, & a chic powder room.” It was bought in February 2023 for $2,500K and had been listed for $3,995, but sold this week for $4,150K, 4% over asking.
So much for prices being down verses last year. We had enjoyed the tour to these beautiful homes, but it was time to get back to the Exedra. We decided next week we would check out the three other homes for sale on the south side of town. However, we wouldn’t be surprised if someone had beaten us to them with real, not fantasy, dollars.