On July 3rd, “eddy” sent in a great post (A Tale of Two Districts) comparing two similar properties in different locations, and whether or not one would sell faster than the other. The answer is clear, and not surprising.
689 Douglass, a 4 bed, 3.5 bath, single family home in Noe Valley asking $1,895,000 set an offer date, received multiple offers, and is in contract for over asking. We’ve been asked by the listing agent not to disclose any more information than that, but from our experience in this market, it was a highly competitive situation, and we’re guessing it is substantially over. No surprise, it is a beautiful home in a great location.
2679 Sacramento, a 3 bed, 1 bath, single family in Pacific Heights asking $1,550,000 on the other hand, is starting to get that Stalefish ™ smell, and as far as we can tell, may be looking at a price reduction in the not so distant future. No surprise. It needs work, has a funky layout, and seems priced to high.
However, as “eddy” recently pointed out in an email to us, perhaps 2030 Scott, a 3 bed, 1.5 bath, single family home in Pacific Heights asking $1.7M, is a better comparison to Douglass. It just hit the market and spent nary 10 days there before going into contract. Also, no surprise. Great, unique home, great location, tons of light and outdoor space. Priced right.
The moral of this story? We leave that to you.
–A Tale of Two Districts [theFrontSteps]
–689 Douglass [mls]
–2679 Sacramento [mls]
–2030 Scott [mls]
Thanks for the post update. I actually walked by the Scott listing and while the pics clearly make this place look reasonably OK; it certainly seems like it needs some major help. I’ll be interested to compare the over asking % for the Scott and Douglas St listing when that information is publicly disclosed.