Maximum Overbid: The Telltale Bargain

When is a bargain not quite what it seems? When it turns into an overbid instead.

That’s what happened with this week’s top overbid at 2358 41st Avenue. This two bed, one bath, Outer Sunset setup listed for $1.09-plus million less than two weeks ago, advertised as a “great price,” and closed out for $1.5 million, or nearly 37 percent higher.

Was that great price a great price indeed? For comparison, right now there are seven other two-bedroom houses for sale in the Outer Sunset/Parkside area, ranging from just over a million dollars up through $1.89-plus million. But only one of those listings features a lower initial offering price than we saw here.

Looking back over neighborhood history, the you’d have to go back to April of 2017 to find a point where the median neighborhood price for a two bedroom house dipped below the initial list price here.

But of course, inflation means that you’d actually have to harken back even further, to the bygone age of August of 2015, to find a point where the median value of an Outer Sunset home like this matched $1.09-plus million now.

So yes, a nice break on the price, seemingly–or just enough to spark interest and drive it up to what it was probably always destined to sell for to begin with? The world may never know.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
2358 41st Avenue2/1.00/N/A13$1,095,000$1,500,00036.99%
55 Norton Street 57N/A/N/A/N/A12$759,000$1,005,00032.41%
147 Harold Avenue2/2.00/N/A19$899,000$1,180,00031.26%
475 20th Avenue2/2.00/8$999,000$1,300,00030.13%
80 Linares Avenue3/2.00/N/A12$1,995,000$2,580,00029.32%
3134 Scott Street2/1.00/7$1,200,000$1,550,00029.17%
4535 Balboa Street4/2.00/N/A0$1,895,000$2,430,00028.23%
34 Otsego Avenue3/1.00/N/A10$1,095,000$1,390,00026.94%
1943 Lyon Street3/2.00/5$2,390,000$3,025,00026.57%
543 Lombard Street3/2.00/13$1,800,000$2,275,00026.39%

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