It’s Friday, that means it’s time to check in with this week’s Top 10 Overbids. From the number 10 on the list, which came in at 32% over on 2nd Ave in the Lake District, to the number 1 on the list, which was just 65% over on Wisconsin in Potrero Hill, there is surely something good for you to peruse, ponder, and discuss among friends.
| Address |
BR/BA/Units |
DOM |
List Price |
Sold Price |
Overbid |
|
|---|---|---|---|---|---|
| 940 Wisconsin St 942 | 2-4 Units | 17 | $1,099,000 | $1,815,000 | 65.15% |
| 336 Banks St | 3/2.00/N/A | 12 | $998,000 | $1,455,000 | 45.79% |
| 1526 Revere Ave | 3/2.00/N/A | 15 | $499,000 | $725,000 | 45.29% |
| 159 Belvedere St 161 | 2-4 Units | 16 | $1,600,000 | $2,300,000 | 43.75% |
| 1783 Noe St | 2/1.00/N/A | 24 | $1,195,000 | $1,705,000 | 42.68% |
| 2323 47th Ave | 4/2.00/N/A | 32 | $759,000 | $1,025,000 | 35.05% |
| 5725 Diamond Heights Blvd | 4/3.00/N/A | 8 | $1,595,000 | $2,139,250 | 34.12% |
| 319 26th Ave | 3/1.25/N/A | 13 | $1,045,000 | $1,395,000 | 33.49% |
| 2465 Harrison | 2/1.00/ | 25 | $899,000 | $1,200,000 | 33.48% |
| 278 2nd Ave | 2/1.00/N/A | 52 | $925,000 | $1,230,000 | 32.97% |
For details about any of these properties in particular, or to send your clients a list of the top 20 Overbids, Top 20 Underbids, and more, check out theGoods-SF.com.
[Update: Since the questions keep coming in, I answered ’em: Are Overbids A Result Of Intentional Underpricing? No – It’s Competitive Pricing]
–Send Your Clients The Goods [theGoods-sf.com]
–Are Overbids A Result Of Intentional Underpricing? No – It’s Competitive Pricing [theFrontSteps]
Is this because the owners are listing for under market prices to crest bidding wars?
>
Not necessarily. Each case is different, but mostly it’s about multiple buyers wanting the same property and us listing agents not really knowing exactly where any given property will sell.
See more on the matter here: Intentional Underpricing? No – Competitive Pricing