We’re back, so you know what that means – time to delve into another incredible San Francisco real estate story!

A charming Craftsman at 120 Lenox Way, nestled in a picture-perfect West Portal neighborhood just snagged a whopping $765,000 over asking! That’s right – nearly $800,000 over the listing price of $1,795,000.

The single family home market is hot! (We were part of a losing offer situation on a Richmond District home with 30 offers…but we’ll get that story to you later.) Despite the continued whispers of a “downturn” (which we take with a grain of salt, frankly), properties like this dreamy Craftsman continue to spark heated competition that leaves everyone slack-jawed.

So, what gives? Why the intense buyer interest over this particular property?

Well, it could be a number of things. (If you follow our market updates you’ll know more than the rest.) Maybe it’s the undeniable charm of the house itself – a classic Craftsman with all the trimmings, a landscaped backyard perfect for summer soirées (even in the fog), and those dreamy hill views that never get old.  Or perhaps it’s the prime location, tucked away on a quiet block but a stone’s throw from the vibrant West Portal Village with its cute shops, tasty restaurants, and convenient Muni access. 

Let’s not forget the classic San Francisco recipe for skyrocketing sales: low inventory, high demand.  There just aren’t enough homes to satisfy everyone vying for a piece of the San Francisco single family home dream.  So, when a picture-perfect property like this one pops on the market, it’s no surprise that buyers come out swinging with their best offers.

This overbid is just another testament to the enduring allure of San Francisco.  Sure, Covid hit us hard and we’re rebuilding, but we still boast world-class culture, stunning scenery, and a booming (AI) job market.  Add in the lack of natural disasters (despite popular opinion Earthquakes don’t happen that often) and, well, you’ve got a recipe for a city that people are willing to throw serious cash at to call home.

Who knows what the next overbid story will be?  (I’m guessing 754 27th Ave is going to be a contender.) One thing’s for sure – we’ll be here to give you more.  Stay tuned, follow us, and check back!

–120 Lenox Way [theGoods]

–San Francisco Neighborhoods prone to Liquefaction...[theFrontSteps]

–754 27th Ave [theGoods]