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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