Maximum Overbid: February Sale Sets May Records

This week’s top overbid mastered a magic trick: How to make four days last three months?

As you can see, the two bed, one bath house at 1526 Santiago Street with the enchanting lavender exterior landed a $1.7 million price after what MLS says was just four days on the market–a remarkably quick turnaround even by San Francisco standards. If a sale gets much faster than that it’ll turn into one of those quantum events that’s over so fast it might not technically have happened.

And yet, if you look back you can see that this house actually went up for sale in February, and the listing was never cancelled. What gives?

Well, after four days in February it flipped over to “pending” status, which means that the seller accepted an offer and set a date for the sale to go through.

Ordinarily a pending sale is, you know, soon, since that’s what the word “pending” usually means. But there’s no rule saying you can’t kick the can down the road a few months if you want, and here we are.

This time warp routine also gives 1526 Santiago a chance to leap to the top of overbid chart for this week, so a handy maneuver all around.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
1526 Santiago Street2/1/N/A4$1,095,000$1,700,00055.25%
608 Sanchez Street3/3/8$2,395,000$3,600,00050.31%
169 25th Avenue3/3/N/A3$2,350,000$3,500,00048.94%
741 Clement Street2/2/20213$1,010,000$1,455,00044.06%
736 36th Avenue3/1/N/A14$1,195,000$1,720,00043.93%
196 Castenada Avenue4/4/N/A7$3,695,000$5,200,00040.73%
156 Henry Street2/2/N/A10$1,895,000$2,650,00039.84%
567 Kansas Street3/2/N/A10$1,595,000$2,200,00037.93%
1339 33rd AvenueN/A/N/A/N/A26$899,000$1,230,00036.82%
239 Crestmont Drive3/3/N/A6$1,250,000$1,700,00036.00%

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2 thoughts on “Maximum Overbid: February Sale Sets May Records

    1. Great observation, Sam, but there’s one key difference: 340 Lombard sold for several million over its asking, but the final price was only about 120 percent of the list price; this Santiago Street house was more than 155 percent over asking–even though in this case, that translated to “only” a difference of a few hundred thousand dollars.

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