Pandemic Pricing? Or Just Another Crazy Overbid? SF Property Sells $360,000 Over Asking

Yep, even during a global pandemic San Francisco still has property selling, and many of them for over asking.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
2651 23rd Avenue 3/2.00/N/A8$985,000$1,345,00036.55%
2919 Webster Street 29212-4 Units13$1,950,000$2,340,00020.00%
4407 18th Street 3/1.50/N/A10$1,995,000$2,350,00017.79%
38 Stoneyford Avenue 2/1.00/N/A46$809,500$903,33311.59%
342 Hearst Avenue 2/1.00/N/A38$1,010,000$1,120,00010.89%
1911 42nd Avenue 3/2.00/N/A7$1,398,000$1,550,00010.87%
307 Faxon Avenue 2/1.00/N/A8$899,000$970,0007.90%
1332 Scott Street 1/1.00/B57$649,000$700,0007.86%
1358 Waller Street 3/1.50/25$1,395,000$1,485,0006.45%
11 Prospect Avenue 3/2.00/N/A2$1,549,000$1,625,0004.91%

As is always the case, closed sales lag behind when properties went into contract. Although some of these transactions happened entirely during this pandemic (the #1 Overbid being one of them), many were listed and went into contract prior to Shelter in Place.

We are seeing an uptick in new listings, and steady demand. Baffling as it may be. It’s still too soon to tell what long-term impact we’re going to see here in San Francisco and Marin, but I can tell you first hand experience with my buyers and sellers indicates a very confident market.

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