Maximum Overbid of the Month Hits $625,000 Over Asking

Just when you thought things were cooling…this:

Located at 131 Castro Street in the desirable Duboce Triangle, this full-floor condominium fetched a final sale price 62.81% over its original asking price of $995,000. It ultimately sold for $1,620,000. Fabulous features like newly refinished hardwood floors, spacious rooms, high ceilings, a woodburning fireplace, amazing storage, wrap-around party deck, and common southeast facing backyard/garden likely all contributed to the overbidding. A walking score of 95 and a riding score of 96 may have helped as well.

Listing agent, Jamie Comer with McGuire Real Estate says that out of eleven offers, “the chosen offer for this seller came down to money”, she continued that for some buyers it might be a combination of price and contingencies. It just depends on the priority for each seller. Comer specifies it was the vintage construction and the elusive second bathroom that made this a very desirable property. The location across from a school was also a real plus for the buyer.

For perspective on this transaction, the highest overbid for the last two weeks comes in at 58.16% for a 2 bed, 1 bath home at 600 Arkansas Street. The next highest overbid was 39.25% over asking for a two bed, 2 bath unit at 3280 22nd Street.

Dig the bidding madness? (You know you do.) You can see the Top five overbids for all of 2018 as provided by our friend, Anna Marie Erwert with SFGATE.

And, as always, our weekly tally (which we hope to bring back with regularity):

Address BR/BA/Units DOM List Price Sold Price
555 Natoma Street 2/2.50/3 8 $1,095,000 $1,315,000
152 Hancock Street 2-4 Units 4 $4,097,000 $4,655,000
2519 Pacheco Street 3/1.00/N/A 74 $899,000 $1,250,000
2155 Hayes Street 3/2.00/ 12 $1,795,000 $1,800,000
1205 San Bruno Avenue 4/4.00/N/A 15 $1,995,000 $2,168,000
1380 Chestnut Street 1382 2-4 Units 8 $2,100,000 $2,150,000
1056 Carolina Street 2/2.00/N/A 25 $998,750 $1,280,000
358 Utah Street 3/1.00/ 20 $1,149,000 $1,200,000
401 Harrison 1/1.00/24G 279 $1,081,000 $1,081,000
1001 Pine Street 1/1.00/710 153 $649,900 $650,000

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Happy Aloha Friday…

-The Goods SF (by theFrontSteps)
Bay Area home prices “Totally Random” as sales slow [San Francisco Chronicle]

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