Maximum Overbid: When You Try To Lose But Win Anyway

This week’s number one overbid, 1559 18th Avenue, barely ekes its way into first place by clearing just over 152.5 percent of its asking price after a mere eight days on the market, which in any other context would sound incredible but in SF is really just normal, if you can wrap your brain around that.

The number two spot went to a house that sold for over 150 percent of its asking, so the difference between first and second place is quite thin this time around. As for 1559 18th Avenue, this three bed, two bath Sunset home has a secret: Not the home itself that is, but the listing.

When it popped up on the market just over a week ago, the lprice was over $1.29 million; but peering back at its most recent sale in 2016, this same house last went for $1.51 million (itself a sizable overbid at the time).

Now why would anybody selling in the hottest housing market since time began list seemingly seeking a loss on a place with no visible defects? The answer: Because they know it’s going to sell for a lot more no matter what.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
1559 18th Avenue3/2.00/N/A8$1,295,000$1,975,00052.51%
2353 Funston Avenue4/3.00/N/A13$1,725,000$2,600,00050.72%
1350 27th Avenue3/2.00/N/A9$1,195,000$1,800,00050.63%
2240 27th Avenue3/1.00/N/A11$1,295,000$1,900,00046.72%
2186 25th Avenue3/2.00/N/A12$1,295,000$1,890,00045.95%
15 Mabrey Court4/3.00/N/A28$859,000$1,200,00039.70%
174 Cayuga Avenue2/1.00/N/A12$999,000$1,377,00037.84%
115 San Juan Avenue3/4.00/N/A13$1,488,000$2,028,00036.29%
272 Glenview Drive3/2.00/N/A12$1,399,000$1,905,00036.17%
151 Merced Avenue3/3.00/N/A16$1,895,000$2,580,00036.15%

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