For nearly a decade (maybe more), I’ve blogged about overbids. It’s tiring. It’s time for something new. Last week I mentioned condo prices dropping 3% from August to September, and I’m not saying the market is crashing, but you should be aware that not EVERYTHING sells over asking, including the oh-so-rare single-family home.
That’s right, out of the top 10 underbids of the week, 7 are single-family homes. A Pacific Heights home listed at $3,250,000 and sold for $2,825,000 a whopping 40 days later. What a score, and what an amazingly beautiful property in an awesome location. I’m jealous.
| Address | Type | BR/BA/Units | List Price | Sold Price | Underbid | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2317 Webster Street | Single-Family Homes | 4/2.5/3 | $3,250,000 | $2,825,000 | -13.08 % | 239 Broad Street | Single-Family Homes | 0/1/0 | $899,000 | $800,000 | -11.01 % | 100 Delano Avenue | Single-Family Homes | 6/3/3 | $1,300,000 | $1,160,000 | -10.77 % | 651 4th Avenue 653 | 2-4 Units | N/A | $1,500,000 | $1,400,000 | -6.67 % | 3808 Clay Street | Single-Family Homes | 4/2.5/2 | $4,500,000 | $4,200,000 | -6.67 % | 601 4th Street | Condo/Coop/TIC/Loft | 1/1/1 | $1,499,000 | $1,400,000 | -6.60 % | 929 Cayuga Avenue | Single-Family Homes | 5/4/3 | $1,105,000 | $1,035,000 | -6.33 % | 2829 Green Street | Single-Family Homes | 5/5.5/2 | $9,600,000 | $9,000,000 | -6.25 % | 301 Mission Street | Condo/Coop/TIC/Loft | 2/3/1 | $4,495,000 | $4,250,000 | -5.45 % | 2676 Great Highway | Single-Family Homes | 3/1/1 | $957,050 | $911,000 | -4.81 % |
Check back next Monday and market your calendars, as I hope to bring you more Underbids more regularly.
This is a very refreshing post. Maybe there’s hope for me yet!
There is hope. There is always hope.