Last week it was this Bernal Heights home that went 20% under asking, thus claiming the podium position. The winner this week is an ultra-deluxe condo in one of the most sought-after neighborhoods on the “North End” of town, Pacific Heights. This home at 2955 Pacific has views, a deck, a formal dining room perfect for Thanksgiving (maybe a 9 lb. Turkey and 6 guests, instead of the 16 lb. Turkey you’re envisioning), and even an elevator that takes you from garage to your unit, so you never have to see your politically incorrect neighbors that love to corner you into a discussion (or lecture) about why their candidate is best suited to occupy the White House.
Listed for $4.1M and sold for $3.65, what a bargain…and those red chairs are so great…ornot.
As for the top 10 Underbid list, here you go:
| Address |
BR/BA/Units |
List Price |
Sold Price |
Underbid |
|
|---|---|---|---|---|
| 2955 Pacific Avenue | 3/2/1 | $4,100,000 | $3,650,000 | -10.98 % |
| 622-626 Buchanan Street | 2-4 Units | $1,399,000 | $1,250,000 | -10.65 % |
| 3283 25th Street | 2-4 Units | $1,788,000 | $1,615,000 | -9.68 % |
| 765 Market Street | 1/1.5/0 | $1,550,000 | $1,415,000 | -8.71 % |
| 2340 29th Avenue | 4/2/3 | $1,299,000 | $1,190,000 | -8.39 % |
| 265 Minerva Street | 2/1/1 | $699,999 | $659,000 | -5.86 % |
| 570-572 6th Avenue | 2-4 Units | $1,800,000 | $1,700,000 | -5.56 % |
| 1052 Rhode Island Street | 3/1/1 | $899,000 | $850,000 | -5.45 % |
| 313 2nd Avenue | 2/1/1 | $789,000 | $749,000 | -5.07 % |
| 886 30th Avenue | 2/2.5/1 | $1,450,000 | $1,380,000 | -4.83 % |
This data is pulled from properties sold within the past two weeks. To get this type of stuff sent to your inbox, sign up for sfnewsletter at sfnewsletter.com. I send it roughly every other week.
(Keep in mind the properties we feature go into contract, usually have an escrow period, then close…When we post that a property “goes” we’re referring to the day it actually is SOLD, not the day it goes into contract.)
I wish you all a wonderful Thanksgiving Holiday filled with good food, good cheer, friends, family, football, skiing, surfing, no drama, no accidents, no injuries, tasty cocktails, cold beer, and old expensive delicious red wine. Happy Thanksgiving! Thank you all for your continued readership, loyalty, referrals, and business. It has been a great year, and it’s still not over (I have a great off market single family home in Cole Valley should you be interested.)
Is this the beginning of a trend? Has the market spoken and said “Enough already!”. Let’s hope 2016 is more balanced so us “regular” people can get a foot hold in SF. It’s going to be a very different town if everyone but the very deep pocketed, all cash, 20+ over asking people reside hear.