Maximum Overbid: San Francisco Continues To Shock Us

You know how if you do a job for long enough eventually you become accustomed or even jaded to its ups and downs, no matter how shocking?

Well, this is not one of those jobs: You’d think after so many overbids every week we’d have seen it all–and hey, maybe we really have. But these numbers still do a number on us even so.

Case in point, this week’s top seller, an admittedly deeply adorable Outer Sunset set-up at 1427 44th Avenue that only spent six days on the market before nabbing a $2.27 million-plus payday, after initially only seeking just under $1.4 million.

Now you may say, well what’s so shocking about that? Sure, it’s a 63 percent premium, but after all this IS San Francisco.

Well, you’re right about that: It’s the history of the LAST sale that is making us dizzy this time around, because in 2007 this same property sold for just $719,000, (exactly the list price).

Now, this is not a straight one-to-one comparison, they did fix the place up a lot, and 2007 was a long time ago.

Still, tripling price is tripling in price. Heck, 2007 was during a price bubble no less, although in fairness prices actually peaked from that a bit before this.

People are still asking us if a housing crash is coming, and we’ve still always got the same answer:

Not this week. Definitely, definitely not this week.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
1427 44th Avenue3/2/N/A6$1,395,000$2,275,00063.08%
37 Miraloma Drive3/2/N/A5$1,395,000$2,150,00054.12%
3325 Rivera Street3/2/N/A14$995,000$1,510,00051.76%
1118 Quintara Street3/2/N/A13$1,095,000$1,660,00051.60%
1682 41st Avenue2/1/N/A13$1,095,000$1,650,00050.68%
2463 43rd Avenue2/1/N/A9$1,098,000$1,625,00048.00%
1863 44th Avenue3/2/N/A15$1,195,000$1,725,00044.35%
1731 Funston Avenue3/2/N/A6$1,595,000$2,255,00041.38%
290 31st Avenue3/3/N/A13$2,195,000$2,925,00033.26%
1832 Wawona Street4/3/N/A13$1,595,000$2,125,00033.23%

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