San Francisco’s real estate market has always been competitive, but lately things have gone from hot to scorching. (See the latest Market Stats for proof.) Overbidding is again the norm on beautiful homes like 1010 14th Street selling for a staggering $805,000 over asking price. Listed at $1,995,000 and sold for $2,800,000, that’s 28.75% over asking in case you wanted us to do that math for you.

Apparently, this beauty was pretty special – prime location near parks, shops, and public transport; gleaming hardwood floors throughout; and a backyard oasis featuring multiple decks. Those lucky new owners must be ecstatic. But seriously… this sale is just another sign of how crazy the housing market is in San Francisco.

Houses in San Francisco often sell within days… or sometimes even hours, of listing. This speedy market leaves little room for second thoughts for you buyers out there, so make sure your ducks are in a row.

To see more of these crazy overbids, check out our Goods page. And, as I always point out, as shocking and common as these overbids are, we price low in San Francisco. It works! See the Underbids for proof of the opposite approach.

We hope you have a great weekend and enjoy your Aloha Friday.

– 1010 14th Street [theGoods]