Nearly 100% over asking?! Oh my… that’s one heck of a sale in Golden Gate Heights.
At 2162 14th Avenue in Golden Gate Heights, a $1,195,000 asking price turned into a $2,361,000 CASH sale. That’s $1,166,000 OVER ASKING, or a whopping 97.57%, in just 14 days on the market!
The home was built in 1969, has four bedrooms, two bathrooms, panoramic Pacific Ocean views, a backyard & parking for four cars. Public records show it last sold in 1971 for $45,900. The recent listing mentions fresh paint & refinished hardwood floors, but no major renovation.
Now for the skinny…
The asking price worked out to roughly $625 per square foot. The final sale price? $1,235 per square foot.
Compare that with a couple of nearby sales:
- 2223 14th Avenue: Sold for $2,028,000, or approximately $1,292/sq. ft.
- 2147 16th Avenue: Sold for $2,100,000, or approximately $1,211/sq. ft.
And here’s something interesting. That second home was listed by the SAME agent, at the exact SAME $1,195,000 asking price.
Hmm…
So was this a truly extraordinary sale, or was the asking price intentionally set well below what the home was expected to fetch?
We don’t know how many offers came in, and we can’t confirm the seller’s pricing strategy. But judging by those nearby sales, the final price isn’t nearly as outrageous as that 97.57% overbid might suggest.
What do you think? Smart pricing strategy, or a misleading starting price for buyers?
For more overbid sales, head to The Goods.
Thinking of buying or selling? Contact us today to work with the only realtor in SF giving back to the planet with each transaction.
– 2162 14th Ave, San Francisco, CA 94116 (The Goods)
Alexander Clark
theFrontSteps Real Estate
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