Here’s a shocker: 4369 21st, a single family home in Eureka Valley that was listed at $1,299,950 just sold for – wait for it – 19.23% UNDER asking. That is correct.
Multiple offers came in, buyers lined up, ultimately a hefty Section 1 pest tab forced the seller to go with the all cash, easy peasy developer deal. Win for the seller – got it sold. Win for the buyer – got a deal. Win for the agent – double ended it.
There you have it, properties do sell under asking. So many, in fact, we also publish a list of the Top 20 Underbids to help you sleep easier at night.
Check back tomorrow for the top 10 Overbids, if you’re so inclined.
-Top 20 Underbids [theGoods-sf.com]
I get a lot of people in real estate in other markets around the country contacting me and telling me their market is crazy good. I have to nod my ahead and agree, “Uh huh. Yep. That’s impressive.” But really, it’s not. San Francisco real estate is an entirely different beast. Case in point, the most recent overbids:
|219 Richland Ave
|1527 Ofarrell St
|317 Crescent Ave
|610 Russia Ave
|2909 Jennings St
|173 27th St
|1223 Bosworth St
|354 28th St
|432 Moraga St
|755 Mangels Ave
In case you’re wondering, yes, we have Underbids too.
It’s not very often we point out the sub $600,000, let alone the sub $500,000 San Francisco real estate market, because it’s not the most common sale in San Francisco, but what about the sub $400,000 market? It exists, albeit very minimally, and 380 Monterey #101, a 1 bed, 1 bath, 668 square foot condo in the Sunnyside is a perfect example of what you can get…it’s still close to $600/square foot, but it will only set you back $390,000.
For those that always wonder, original asking price was $449,000, so this does support the doomsday theory that more properties are selling under asking and the bottom is falling out, even if it was priced too high in the first place. Get to the right price and 95% of homes in San Francisco will still sell.
-380 Monterey #101 [MLS]
-Sunnyside [Tour de San Francisco (real estate) in the Sunnyside]
Oh it’s just so awful when a property sells for under asking. The world of San Francisco real estate has certainly come to an end when we start to see this. We can all pack our things and head for more affordable, greener pastures. That is, of course, unless you love yourself some loft!
After 32 days on the market, 200 Brannan #109 sold for a whopping $10,000 below list price, or more correctly stated, it sold at market value.
This is a fantastic property in a great building, and these buyers got a great price, and a great outdoor patio! They should be thrilled.
We doubt you’d find anything like this in Kansas.
-200 Brannan #109 [MLS]
Originally listed September 19, 2007 for $2,495,000, reduced to $2,300,000 two months later, and now sold for $2,250,000, 56 Clarendon, in Clarendon Heights, is a done deal.
Is this a significant “anecdote” of market information/fluctuation. We’ll let you decide that, we just wanted to highlight another gem of the mid-century.
-56 Clarendon [mls]
-more mid-century posts [theFrontSteps]