Oh my, oh my…it’s like a kid in a candy store. So many choices, what is one to do!? As of right now (12:10pm) there are 168 new listings that have hit MLS in the last 24hrs…that’s nuts, but expected.
There are some gems in the mix, like the most expensive home to hit MLS, 47 Chenery, an extraordinary 10 bedroom, 11 bath Neo-Classical Estate in Glen Park asking $12,500,000…are you kidding me!? Look at this place.
Not my style, but man – oh – man could King Louis be replaced with Maniscalco and call this place amazing!
[Update: You gotta read what Curbed has shared about this property.]
So many cool properties to check out, and not enough time to tell you about them all, so feel free to browse all the Hot New Listings right here.
Since it’s Friday, I know you all expect your weekly top 10 Overbids, so here you go… (important to note, the top 20 Overbids you find on this page runs on a 14 day cycle, whereas this list below I refine to the past 7 days):
| Address |
BR/BA/Units |
DOM |
List Price |
Sold Price |
Overbid |
|
|---|---|---|---|---|---|
| 1718 12th Avenue | 3/1.00/N/A | 13 | $1,195,000 | $1,750,000 | 46.44% |
| 2058 45th Avenue | 3/1.00/N/A | 13 | $799,000 | $1,100,000 | 37.67% |
| 1030 Ortega Street | 2/1.00/N/A | 8 | $998,000 | $1,368,000 | 37.07% |
| 3550 22nd Street 3552 | 2-4 Units | 35 | $925,000 | $1,200,000 | 29.73% |
| 2007 28th Avenue | 4/4.00/N/A | 13 | $968,000 | $1,255,400 | 29.69% |
| 3624 Folsom Street | 3/2.00/N/A | 7 | $1,428,000 | $1,850,000 | 29.55% |
| 1500 Plymouth Avenue | 3/2.00/N/A | 5 | $1,425,000 | $1,810,000 | 27.02% |
| 54 Howth Street | 2/1.00/N/A | 10 | $799,000 | $1,008,000 | 26.16% |
| 28 Rebecca Lane | 2/2.00/N/A | 15 | $699,000 | $866,000 | 23.89% |
| 1287 37th Avenue | 4/2.00/N/A | 0 | $1,395,000 | $1,710,000 | 22.58% |
Finally, since it’s been so long, what the hell is the market doing?
On August 22nd Pacific Union released their July recap, and in so many words confirmed the strength of our market, “Home prices rose in all nine Bay Area counties on an annual basis, ranging from 1.3 percent in Contra Costa County to 12.7 percent in Sonoma County. For the second time this year, the median price in San Mateo County hit $1,500,000, tying its all-time high, according to historical housing-market data from CAR. Like last July, the Bay Area is home to California’s other three seven-digit housing markets: San Francisco ($1,428,000), Marin ($1,224,000), and Santa Clara ($1,165,000) counties.”
Keller Williams Report pretty much says the same thing, and if you want to go crazy nuts into detail, Patrick Carlisle over at Paragon Real Estate gives you more data and analysis than you could possibly ever want, and sums up nicely what has happened the past couple months, and what might be in store.
Generally speaking, late summer market dynamics (or, for that matter, during the mid-winter doldrums) are not of great significance and do not tell us much about where the market is heading. September, however, is usually the single month with the greatest number of new listings hitting the market in San Francisco, and that surge fuels sales through mid-November, when activity begins to plunge. The coming two months will be the next major indicator: Will the SF market continue to maintain the intense high-demand, low-supply heat of this past spring, or will it cool? While the entire market is affected by seasonality, the luxury home segment is fiercely so, and the next couple months will be the peak selling period for high-end homes until spring 2018 rolls around.
And if that’s not enough for you, you can always give me shout, buy me a beer, and I’ll be happy to share my two cents.
Happy Aloha Friday! Go play.