Top floor, luxury, view two bedroom, two bath condominium in a boutique elevator building with parking, situated in the vibrant SOMA District of San Francisco.
Closed on the last day of 2015 was this 3 bedroom Russian Hill condominium with dramatic views. Listed for just shy of $3.2M and sold 18% under asking, at $2.6M, it takes top spot on the top 10 Podium Underbids of the week for San Francisco.
Interesting to note is that out of the top 10 underbids that closed in the past two weeks, 7 of them are condos and 3 of them are single-family homes (That’s R.E. 101 in college…supply/demand).
And here are the rest.
Happy New Year everyone!
|Address||BR/BA/Units||List Price||Sold Price||Underbid|
|1070 Green Street #1402||3/2.5/1||$3,195,000||$2,600,000||-18.62 %|
|151 Everglade Drive||3/3/2||$1,599,000||$1,400,000||-12.45 %|
|68 Landers Street||2/2/1||$1,499,000||$1,315,000||-12.27 %|
|400 Beale Street #1407||2/2/1||$1,150,000||$1,053,000||-8.43 %|
|3315 Pierce Street||3/3.5/3||$2,699,000||$2,500,000||-7.37 %|
|33 Perine Place||2/2/1||$1,500,000||$1,400,000||-6.67 %|
|425 28th Street||3/2/1||$1,695,000||$1,588,888||-6.26 %|
|355 1st Street||2/2/1||$1,595,000||$1,500,000||-5.96 %|
|739 48th Avenue||3/2/1||$995,000||$945,000||-5.03 %|
|1760 Ofarrell Street San Francisco, CA 94115||2/2/1||$879,000||$835,000||-5.01 %|
It only took seven months, but in the end, it got there. SOLD for $440,000 UNDER asking!
You read that correctly, this 6-bedroom single family home in Mission Terrace at 100 Delano Avenue just closed $440,000 below the original (back in March) asking price of $1,600,000. After a price chop to $1.5, then $1.4, then again to $1.3, it appears the Lord finally took pity on this property and landed it on top of this week’s Top 10 Underbids. With plenty of extra space, awesome curtains, wow-tastic wallpaper, and your own “personal chapel” how could you not want to move right in!?
As for the other buyer scores, here you go:
|100 Delano Avenue||6/3/3||$1,300,000||$1,160,000||-10.77 %|
|355 Bryant Street||2/2/1||$2,345,000||$2,100,000||-10.45 %|
|18 Palm Avenue||4/3.5/2||$4,995,000||$4,525,000||-9.41 %|
|1264 Bush Street||1/1/0||$649,000||$590,000||-9.09 %|
|78 Gladys Street||3/2/0||$1,195,000||$1,100,000||-7.95 %|
|1437 47th Avenue 1437A||2 unit||$1,275,000||$1,175,000||-7.84 %|
|601 4th Street #321||1/1/1||$1,499,000||$1,400,000||-6.60 %|
|2040 Franklin Street #506||0/1/1||$575,000||$540,000||-6.09 %|
|2730 Broderick Street||4/3.5/1||$5,850,000||$5,500,000||-5.98 %|
|301 Mission Street #51D||2/3/1||$4,495,000||$4,250,000||-5.45 %|
You see…”deals” can still be had in San Francisco.
The new S&P Case-Shiller Index for August was just released on Tuesday. The prices for homes in the upper third of prices – which dominate in most of San Francisco, central and southern Marin, and central Contra Costa – ticked down a tiny bit in summer, exactly as they did last summer. These short-term fluctuations are common and not particularly meaningful until substantiated by a longer-term trend.
Since Case-Shiller’s SF Metro Area covers 5 counties, it should be noted that not all the markets within the Area move in lockstep: activity and appreciation rates can vary significantly.
As is clearly illustrated below, for the past 4 years, spring has been the big driver of home-price appreciation. Prices generally plateau in subsequent seasons until the next spring arrives. For the past couple years, the spring selling season has started very early, in late January or early February, due to the incredible weather we’ve had in those months. El Niňo, if it arrives, might move the spring pick-up in sales back to mid-March/early April in 2016.
This second chart illustrates the huge burst in prices this past spring. It’s not unusual for the market to slump a little during the summer holidays, almost in exhaustion after the spring frenzy. We’ll have more autumn statistics soon when October’s MLS data comes in, but Paragon has been experiencing its most active autumn selling season in its history in 2015.
And here are 3 longer-term charts for each of the 3 Case-Shiller price tiers for the 5-county San Francisco metro statistical area. As can be seen, the different price tiers had bubbles and crashes of radically different magnitudes in 2006 – 2009, but as far as total appreciation since the year 2000, all of them display very similar appreciation rates.
That ought to do it for your data craving for a while. You might consider following this blog via email (link below) or get on the Twitter train @theFrontSteps, so you don’t miss a beat of San Francisco Real Estate.
These Broker Metrics charts track weekly number of Active Listings over the past 6 months (early May to mid-October):
SFD, under $1m Active Listings – weekly inventory just below 6 month average, about same level as spring, lowest number of active listings since early July.
Condo, under $1m Active Listings – autumn inventory levels well above (about 25%) spring-summer levels
SFD, $1m – $1.499m Active Listings – weekly inventory just fell below 6-month average
Condo/Co-op, $1m – $1.499m – autumn inventory running far above (about 40%) spring-summer inventory levels
SFD, $1.5m – $1.999m Active Listings – autumn inventory levels well above (about 30%) spring-summer levels
Condo/Co-op, $1.5m – $1.999m – autumn inventory levels well above spring-summer levels
SFD, $2m – 2.499m Active Listings – autumn listing inventory running well above (33%) 6-month average, and equal to mid-May levels
Condo/Co-op, $2m+ Active Listings – inventory running about 25% above 6-month average, and well above spring-summer levels
SFD, $2.5m+ Active Listings – inventory running about 29% above 6-month average, and about 20% above May levels
Holy moly did this one go great, or what!? Top floor 1 bed, 1 bath condo with its own private deeded garage in an A+ Marina District location. After kindly declining multiple attempts to pre-empt offers, we stuck to our marketing plan, got roughly 250 parties through the door, reviewed 7 offers, and just closed for $1,050,000! In case you forgot, we listed at $849,000. That’s $1111.11 per square foot, and 24% over asking. Wowza…
You might be wondering how we got so many people through the door. It’s partly the sign of the times, but also some very creative online marketing, including this post about Liquefaction Zones of San Francisco’s Marina District that gets attention to my listings, which gets people through the door and contacting me to get in. Add to that amazing staging by GiGi Park, great photos by Whistle Photography, detailed inspections and files put together by my awesome assistant, a ton of web traffic to my site already, and you have a recipe for success when it comes to selling property.
Congratulations to my seller, and also to the buyer that successfully fended off the wolves chasing after him. Well played.
As your listing agent, I am always thinking outside of the box to knock your sale out of the park, so let’s get to know one another when you’re ready to sell.
–1487 Chestnut, Marina District 1/1/1, asking $849,000, sold $1,050,000 [theFrontSteps]
–Liquefaction Zones of San Francisco’s Marina District [theFrontSteps]
Situated within the Beideman Historic district of San Francisco’s Western Addition Neighborhood, just steps from the bustling shops and restaurants of the Divisadero and Fillmore corridors (think NOPA, Bi-Rite, The Mill, State Bird Provisions, Japan Town, and so many more), and a chip shot away from Alamo Square and Alta Plaza Park, this spacious 2 bedroom, 1.5 bath condominium offers modern amenities in a truly amazing central location.
Hickory Wood Floors in the living, dining and kitchen areas
New carpet in the bedrooms
Modern bathroom with shower/tub
Remodeled kitchen with White Silestone Countertops, Cherry wood cabinets, Bosch dishwasher, open layout perfect for entertaining
Wood burning fireplace
Private patio area
1 car Parking
Common outdoor space
HOA dues $1421/quarter
List Price $779,000
Walk Score 96
Transit Score 81
Biker’s Score 92
Culture, Diversity, Vibrancy…it’s all here, and waiting for you out your door. Whether you’re a walker, biker, or other, you’ll feel totally in the mix of San Francisco’s past, present, and future, living at 1365 Scott.
Sunday 1/25, 2-4pm
Tuesday 1/27, 11am-12:30pm
Thursday Twilight 1/29, 5-7pm
Sunday 2/1, 2-4pm
Private Showing available upon request
For more information please contact me:
If you’re in the market for a new development condominium in downtown San Francisco, you’re going to want to keep your eye on this type of information. Particularly the number of units available versus the number sold…translation = properties are selling REALLY fast!
Thank you Mark Company for these excellent reports…
Because one offer isn’t enough, 135 Parnassus (a teeny – tiny 1192 sqft, 2 bed, 1 bath condo) in the heart center of Cole Valley, just blew the roof off of reality. Sure, priced crazy low at $799,000 (actually, I would have priced it similarly because it did have some issues), but still…30 offers? Come on!
I do know roughly where this will sell, but have been asked not to share pricing info, so check back, contact me, or better yet – get on my list to receive real time sold property reports to your inbox every other Friday. (Sign up at sfnewsletter.com and get “The Goods”.)
The agent kindly informed me, “We also have a solid backup offer”, and my response, “You actually have 29.” Ahhh…to be a seller in San Francisco.
And didn’t I just report the market might be cooling…sort of?
–135 Parnassus – Cole Valley [Property Detail]
–San Francisco Real Estate Market Cools (sort of) [sfnewsletter]
–Real Time Neighborhood Sold Property Reports via Inbox [sfnewsletter]
–Agents, Send The Goods To Your Clients [www.theGoods-sf.com]
I have this fabulously luxurious top floor, 3 bed, 2 bath Edwardian condominium with amazing panoramic views to the North from the living area and South from the bedrooms, on a quiet tree lined street in Cole Valley, coming on the market this Friday 9/12, and you get the first look.
The home features gorgeous hardwood floors, a spacious, bright and open formal living room (wired for surround sound) with a fireplace. Formal dining room with period details, built-in cabinets and box-beam ceiling. Walk through the Butler’s pantry into your bright, open and large designer kitchen with Caesarstone countertops, custom cabinets, skylight, extra storage and A+ appliances. Both bathrooms have been remodeled by Waterworks and feature all of today’s amenities. Laundry room has side by side washer & dryer, and floor to ceiling cabinets. The entire condo has refinished floors, new carpet, and new paint. It also comes with one car parking, a shared yard, and did I mention views, views, views. Because the property is completely separated from other structures on all sides, the home is incredibly bright…a rarity in San Francisco.
Soar above Cole Valley in this truly remarkable property you don’t want to miss.
List price $1,395,000
Open House Schedule:
Sunday 9/14 2-4pm
Tuesday 9/16 12-1:30pm
Thursday 9/18 5-7pm
Sunday 9/21 2-4pm
Private showings available
For more information about this property or any others, please contact me (email@example.com / 415-254-5351), and to learn more about Cole Valley, in general, check out all the great stuff I’ve shared!
Before Google Street View, I did a Tour de San Francisco. And here’s what I did for Cole Valley.
–More Listings [theFrontSteps]