San Francisco is always changing: For example, there’s the case of this week’s top overbid, a two bed, one bath Outer Sunset beach house at 2142 44th Avenue.
The final sale price of more than $1.45 million is well over 162 percent of the asking price from the end of February–a mere $895K.
Again, this seems like another one of those homes that may have been suspiciously underpriced to begin with; however, that $895K does seem more on-brand if we consider this home’s most recent previous sales activity.
Last time this place went on the market was 2013, when it sold for just $637K. Is that number a mistake? Was this home a teardown back then?
No–it’s just that in Q1 of 2013, the median price for a house in SF was still $850K.
It’s hard to know how to feel about a stat like that now: On one hand, that number was at the time considered completely out of hand, but by modern standards it’s a pipe dream. For that matter 2013 was not all that long ago–but at the same time it’s nearly a decade in the past.
In any case, it seems the lucky seller of 2142 44th Avenue has learned the most reliable way to double your investment: Buy in San Francisco, and then just wait a decade or so.
|Address||BR/BA/Units||DOM||List Price||Sold Price||Overbid|
|2142 44th Avenue||2/1/N/A||10||$895,000||$1,451,000||62.12%|
|479 37th Avenue||4/2/N/A||13||$1,888,000||$2,888,000||52.97%|
|1618 Church Street||3/1/N/A||4||$1,695,000||$2,500,000||47.49%|
|1535 31st Avenue||2/1/N/A||0||$1,098,000||$1,600,000||45.72%|
|506 Rockdale Drive||3/2/N/A||7||$1,495,000||$2,150,000||43.81%|
|1594 29th Avenue||2/2/N/A||8||$1,388,000||$1,990,000||43.37%|
|1435 Shafter Avenue||2/2/N/A||8||$948,000||$1,350,000||42.41%|
|500 35th Avenue 502||N/A/N/A/N/A||12||$998,000||$1,400,000||40.28%|
|180 Forest Knolls Drive||4/2/N/A||7||$1,695,000||$2,375,000||40.12%|
|270 Judson Avenue||2/1/N/A||10||$859,000||$1,165,000||35.62%|
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