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):
|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|
|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]