Things Are Getting Weird | $1,250,000 Over Asking On Liberty Hill – But That’s Not All
We’re going to come out and say it…things are a little weird out there right now. Kinda feels like last Fall when all this hype was abounding about a continued crazy real estate market, but then properties that would have “normally” flown off the shelf are sitting, price reductions are happening, and the offers of “bonus” commission to the buyer’s agent are increasing in our inbox. Don’t get us wrong, it’s still VERY much a seller’s market, but we’re having one of those hiccups again.
We’ll keep eyes on it, as always. As for what’s happened the past week in closed sales, you can always track that on The Goods. It’s a great way to keep tabs on the market in your neighborhood, on your own time.
Since it’s Friday, and since we still have em, you get your weekly fix of Overbids..
|205 Miramar Avenue||2-4 Units||7||$895,000||$1,300,000||45.25%|
|11 West View Avenue||3/4.00/N/A||16||$899,000||$1,300,000||44.61%|
|752 Francisco Street||1/1.00/||12||$1,050,000||$1,475,000||40.48%|
|2823 Pierce Street||1/1.00/||7||$779,000||$1,030,000||32.22%|
|2526 27th Avenue||2/1.00/N/A||35||$999,000||$1,300,000||30.13%|
|1991 21st Avenue||4/4.50/N/A||17||$1,495,000||$1,925,000||28.76%|
|142 Ledyard Street||3/2.00/N/A||16||$899,000||$1,150,000||27.92%|
|312 Liberty Street 314||5/4.50/N/A||4||$4,950,000||$6,200,000||25.25%|
|950 Cayuga Avenue||3/2.00/N/A||62||$999,000||$1,250,000||25.13%|
|177 Day Street||2/2.00/N/A||11||$1,495,000||$1,825,000||22.07%|
We wanted to point out something interesting the above list wouldn’t otherwise clue you in on. That being 312-314 Liberty Street.
By all accounts that is a whopping overbid from $4,950,000 to $6,200,000 for that downright awesome property. But here’s what you didn’t know. That very same property was listed in September 2017 for $5,750,000…not sold, listing canceled in November 2017. Then in February 2018 it was brought back on the market for $5,750,000, and taken off the market after a price reduction to $5,500,000 in June 2018. You following? We’ll call that 8-10 months not selling. Here we are now in Fall 2019 (two years later than the original listing) and the very same property was put back on the market at $4,950,000, only spent 4 (yes four) days on the market, and just closed for $6,200,000, or significantly more than all prior attempts, and in significantly less time.
This is what we mean by things are a little weird out there…
It’s going to be a nice weekend in San Francisco. Wear sunscreen, behave (ornot), and enjoy all that is on offer in our wonderful city by the bay.