217 Single Family Homes For Sale In San Francisco … Right Now … That’s It

In the past 7 days, there have been only 23 single family homes come on the market in ALL of San Francisco…16 of those homes hit the market today. Total, there are currently only 217 single family homes “active” for sale in ALL of San Francisco, a city of around 865,000 permanent residents.

There are currently 217 people looking for a single family in the Outer Sunset alone!

Chew on that for your weekend commute.

Happy Aloha Friday, here are your top 10 Overbids:

Address BR/BA/Units DOM List Price Sold Price Overbid
436 Valley Street 3/1.00/N/A 12 $1,195,000 $1,821,300 52.41%
387 Silver Avenue 389 2-4 Units 16 $999,000 $1,520,000 52.15%
4388 23rd Street 1/1.00/N/A 7 $749,000 $1,065,000 42.19%
208 Banks Street 2/2.00/N/A 10 $1,195,000 $1,620,000 35.56%
1622 35th Avenue 5/2.00/N/A 13 $1,349,000 $1,825,000 35.29%
771 Teresita 2/1.00/N/A 16 $1,088,000 $1,470,000 35.11%
2 Seal Rock Drive 2/1.00/N/A 12 $895,000 $1,200,000 34.08%
703 San Bruno Avenue 4/2.00/N/A 16 $1,495,000 $2,000,000 33.78%
647 28th Avenue 3/1.50/N/A 17 $899,000 $1,200,000 33.48%
1282 18th Avenue 3/1.50/N/A 4 $1,350,000 $1,800,000 33.33%

Prosst!

Just Shy of $1,000,000 OVER Asking…and Nine Other Overbid Head Spinners

It’s kind of like an “own-goal” in Soccer (Internationally referred to as Football)…sometimes you just gotta put your head down and accept the disbelief…

San Francisco’s Top 10 Overbids, with 1 Miguel on top selling just shy of a staggering $1,000,000 over asking:

Address BR/BA/Units DOM List Price Sold Price Overbid
1 Miguel Street 3/2.50/N/A 2 $1,675,000 $2,600,000 55.22%
2306 41st Avenue 2/1.00/N/A 12 $799,000 $1,155,000 44.56%
106 Edna Street 3/2.00/N/A 15 $1,098,000 $1,575,000 43.44%
275 London Street 3/2.00/N/A 14 $995,000 $1,415,000 42.21%
263 Duncan 2/1.50/ 7 $1,149,000 $1,600,000 39.25%
350 Joost Avenue 2/1.00/N/A 7 $799,000 $1,100,000 37.67%
248 Elsie Street 2/1.00/N/A 12 $1,095,000 $1,480,000 35.16%
18 Abbey Street 2/1.00/ 10 $950,000 $1,275,000 34.21%
104 Marview Way 3/1.00/N/A 14 $985,000 $1,320,000 34.01%
1717 Alabama Street 3/2.00/N/A 8 $1,550,000 $2,060,000 32.90%

In case you missed that “DOM” on 1 Miguel, it’s a 2, as in two days on the market.

Have a great weekend. Come visit me at 740 Clayton and take a look at this one-of-a-kind property before it’s gone.

SOLD | 1143-45 Jackson | It’s a Good Story…

I had the pleasure of representing some repeat clients on their purchase of this well located and highly sought after two unit property at 1143-45 Jackson for $2,150,000. We had to go to battle, for sure, but in the end we beat out 11 other buyers (including one higher) to seal the deal. The story on this is very interesting…


My clients really wanted this property, despite having just recently (2 weeks prior) purchased another property in the neighborhood. Listed for $1,688,000, it was anybody’s guess where 1143-45 Jackson would go, so we guessed $1,850,000 as our original offer (cash, 7 day close, no contingencies) would “get us a seat at the table”. Well…it almost got us kicked out of the club as we were the LOWEST of 11! Laughable, but not laughable. Many agents would stop there. Not me.

I practically begged to be involved in a multiple counter, and advised the listing agents we could go higher, but simply didn’t know where to begin. So we got the counter from sellers at $2,150,000…and it was ours, because we had excellent terms and a well put together offer package. BUT! We countered at $2,125,000, which was a risky move and could backfire. It backfired. The sellers said they were accepting a higher offer than ours, because we didn’t go where we needed to go. We were devastated.

Then we got the call…the other buyer was M.I.A., and so we could again have the property at $2,150,000 if we could get it signed within 30 minutes. While cooking Salmon on the barbecue, and managing my starving children, I was able to sit down to Docusign (our electronic signature system) between grill checks, some flames, and occasional shouts of “the fish is on fire dad!” to get the counter sent to my buyer, signed, and back to the seller within 10 minutes. Fish off the grill. White wine and milk poured. Napkins in laps. Mahlzeit.

They put the other buyer in “backup” position, in case we faltered. We closed 7 days later.

That’s probably more story than you needed to hear, but that’s how you get it done for your buyers in this market.

Congratulations!

Maximum Overbids of the Week | Top 10

Multiple properties still selling 30% plus over asking, all over San Francisco…

Address BR/BA/Units DOM List Price Sold Price Overbid
114 Congo Street 2/2.00/N/A 12 $859,000 $1,285,000 49.59%
1571 31st Avenue 3/1.00/N/A 15 $938,000 $1,365,000 45.52%
2454 30th Avenue 2/1.00/N/A 9 $995,000 $1,427,000 43.42%
2169 26th Avenue 4/2.50/N/A 0 $1,495,000 $2,100,000 40.47%
1665 17th Avenue 3/2.50/N/A 14 $1,395,000 $1,950,000 39.78%
1812 Silver Avenue 2/1.00/N/A 32 $588,000 $820,000 39.46%
218 Miguel Street 3/2.00/N/A 8 $1,795,000 $2,400,000 33.70%
331 Vernon Street 3/2.00/N/A 14 $1,025,000 $1,367,000 33.37%
1370 28th Avenue 4/3.50/N/A 40 $1,399,000 $1,830,000 30.81%
325 Teddy Avenue 3/2.00/N/A 14 $619,000 $805,000 30.05%

Not enough time on my hands to get into details today, but from the looks of this list, you can tell the West is still going strong. All of these prices are in line with comps, and at some point list prices will start to catch up with realistic sales prices.

Still a great time to be a seller. I have a great big home/property coming soon on Clayton Street, so stay tuned for that. And as always, give me a shout when it’s time for you or your neighbors to sell.

Have a great weekend!

Facebook Snags Downtown SF Office Space | New Inventory Is Still Tight | Prices Up 10.4% YOY | And Overbids

Just when you thought maybe things would cool, Fall hits, listings are gobbled up, Overbids continue, multiple offers are the norm, pickin’s are still slim (even though at last check 100 new properties hit MLS today), and Facebook goes and signs a whopper of an office deal right next to Salesforce, around the corner from LinkedIn, and gives its commuter employees reason to rejoice and plant roots firmly in San Francisco.

I suspect this will play a role in our very basic supply/demand conundrum of the last 15 years, and counting.

As for our current market, here goes…

Single Family Homes:
August’s median sales price continued its predictable seasonal backing off from its Spring peak, dropping 6.4% to $1,380,000 from May’s $1,475,000. However, in the same time frame last year prices dipped 7.4%. Prices are still up 10.4% above August, 2016.

Since August, 2012, the median sold price in San Francisco is up 81%.

Inventory continues to be at its lowest level, 1.6 months, since last December. This is the ongoing result of fewer homes coming on the market while sales stay fairly constant. The number of new listings on the market year-to-date is down 7% from 2016 while the number of sales is up 3.3%.

The incredibly tight supply coupled with strong demand kept the level of overbids high as well, down a bit from July but still at 114%, and 79% of single family homes sold above the list price, up from 75.9% last August.

Condo/Loft/TIC’s:
Median sold prices are up 10.8%, to $1,175,000, compared to August 2016. And, while not as great a rise as with single family homes, the median sold price is up 62.5% compared to August 2012’s $723,000.

In August, 63.4% sold above list price and the median bid was 3.2% above list price.

The number of Condo/Loft/TIC listings are also down year-to-date compared to 2016, by 10.7%. And, like single family homes, sales are up, by 2.6%. Current inventory stands at a 2 months supply.

To see and share this in infographic form, see below.
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Let’s talk Overbids – The Top 10

Address BR/BA/Units DOM List Price Sold Price Overbid
1632 Pacheco Street 5/4.00/N/A 15 $995,000 $1,550,000 55.78%
1932 Ortega Street 2/2.00/N/A 10 $998,000 $1,425,000 42.79%
146 Beulah Street 2/1.00/ 14 $949,000 $1,350,000 42.26%
52 Dawnview Way 4/3.00/N/A 12 $1,250,000 $1,750,000 40.00%
177 Forest View Drive 3/2.00/N/A 18 $1,149,000 $1,580,000 37.51%
136 Andover Street 2/1.00/N/A 10 $1,099,000 $1,502,053 36.67%
1738 25th Avenue 4/3.00/N/A 11 $1,398,800 $1,800,000 28.68%
2319 15th Street 2/2.00/A 10 $1,195,000 $1,525,000 27.62%
217 Lowell Street 2/2.00/N/A 2 $849,000 $1,080,000 27.21%
62 Santa Ysabel Avenue 2/1.00/N/A 39 $998,000 $1,240,000 24.25%

Madness. Sheer madness, and I’ve been saying this for better part of a decade. It’s insane. So if you want to sell, check out my track record, and let’s get ‘er done in high fashion.

That’s all I have for you today. Finally some great weather out West Side of San Francisco, so get out and enjoy! Fall is in the air, cycling is great and getting crisp, surf is turning fun (water is warm too), and that means snow is on the way.

-Let’s be friends on Facebook, Instagram, Twitter, and/or LinkedIn…I’ll keep you updated on all things San Francisco Real Estate
Recent Sales [theFrontSteps]
The First Newsletter We Could Find (With Overbids)
Facebook Takes All of 432,000 Square Feet Commercial Space at 181 Fremont in San Francisco-The Registry
Facebook is dropping $35 million to lease a beautiful, earthquake-resistant skyscraper in San Francisco – take a look inside– Business Insider

No Real Surprise: Homes Still Selling Way Over Asking

It’s Friday! You made it to the end of the week, and if you’re like me, you made it to the beginning of the school year. Although, I will say, entertaining those kids of mine is a helluva lot more fun than sending emails and blogging…but I’m not complaining.

Anyway, you made it to Friday, so that means Overbids…

Since it’s been nearly a month since my last post, I figured I’d give you the top 20 for the past 14 days, rather than the top 10.

No real surprises on this list. Everything selling right about where it should, and properties priced according to San Francisco tradition it seems (low). It’s the name of the game, and it works well, so you might as well play it.

That’s it. Have a great weekend. Expect our inventory to pick up dramatically in a couple weeks, so keep your eyes on all the hot new listings, and recent sales, and check back for more consistent and detailed market reports once the Summer doldrums are over.

Happy Aloha Friday.

-The Goods

It’s Official, The Avenues Have Gone Bonkers…

San Francisco’s Top 10 Overbids of the Week:

Address BR/BA/Units DOM List Price Sold Price Overbid
2658 40th Avenue 3/2.00/N/A 8 $895,000 $1,350,000 50.84%
833 Head Street 3/1.25/N/A 12 $1,295,000 $1,910,000 47.49%
33 Idora Avenue 4/2.00/N/A 13 $1,095,000 $1,600,000 46.12%
231 Ney Street 3/2.00/N/A 12 $899,000 $1,280,000 42.38%
249 10th Avenue 2/1.00/N/A 11 $1,349,000 $1,905,000 41.22%
2763 40th Avenue 4/2.00/N/A 14 $995,000 $1,370,000 37.69%
979 Teresita Boulevard 2/1.00/N/A 20 $799,000 $1,100,000 37.67%
1668 48th Avenue 3/2.00/N/A 13 $895,000 $1,223,000 36.65%
2211 47th Avenue 3/2.00/N/A 0 $899,000 $1,225,000 36.26%
321 Page Street 2/2.00/ 5 $1,195,000 $1,600,000 33.89%

Cole Valley Mid Century Gets $4,000,000 – Plus Overbids

It’s $1,250,000 over asking for 1238 Stanyan (#3 on the list, and worth every penny)…or to put it another way…an overbid that could almost (+$25k) buy you this condo in Cole Valley at 1240 Willard outright.

Put that in your morning pastry and chew on it.

As for the rest of the top 10 Overbids, here you go.

Address BR/BA/Units DOM List Price Sold Price Overbid
58 Lapidge Street 4/2.50/N/A 13 $1,348,000 $2,325,000 72.48%
1675 38th Avenue 2/2.00/N/A 11 $995,000 $1,501,675 50.92%
1238 Stanyan Street 4/3.00/N/A 10 $2,750,000 $4,000,000 45.45%
2301 25th Avenue 3/1.00/N/A 14 $995,000 $1,410,000 41.71%
639 17th Avenue 2/1.00/N/A 13 $879,000 $1,202,000 36.75%
3238 Harrison Street 3/1.00/N/A 12 $1,099,000 $1,500,000 36.49%
1723 24th Avenue 5/4.00/N/A 5 $1,168,000 $1,575,000 34.85%
2263 42nd Avenue 4/4.00/N/A 12 $1,199,000 $1,608,000 34.11%
2300 34th Avenue 3/1.00/N/A 18 $1,150,000 $1,538,000 33.74%
278 30th Street 280 2-4 Units 13 $1,498,000 $1,975,000 31.84%

It doesn’t take a genius to see from this list what part of town is white hot right now (Hint: the Avenues and all points West), but it does take some big cajones to go $1,250,000 over asking to win your mid century dream home in a stellar Cole Valley location.

In other news: For those of you looking to get into a single family in Cole Valley, I have one coming at 707 Cole…a 4 bed, 3 bath Victorian. We hope to be on MLS within a couple weeks, so if you’d like first crack, get in touch.

A lot of fun and good conversation comes by way of the Top 10 Overbids, but did you know I also share ALL of the recent sales in San Francisco with you, on a regular basis? Sort by neighborhood, property type, price, etc and track sales in you ‘hood. In case you can’t remember that, you should Follow theFrontSteps.

Have a great Memorial Day Weekend. Play safe. Play smart. Wear sunscreen.

theFrontSteps @ The Goods

San Francisco Real Estate’s Top 10 Overbids Week Ending 5/19/17

I know it’s hard to top the blog I just posted about the letters from buyers’ children to sellers, but it is Friday after all, and I know you like your Overbids, so here you go…

San Francisco’s Top 10 Overbids:

Address BR/BA/Units DOM List Price Sold Price Overbid
2654 15th Avenue 2/1.00/N/A 10 $995,000 $1,625,000 63.32%
1234 5th Avenue 4/1.25/N/A 13 $1,749,000 $2,600,000 48.66%
619 22nd Avenue 2/1.25/N/A 4 $995,000 $1,450,000 45.73%
1675 29th Avenue 3/1.25/N/A 15 $995,000 $1,440,000 44.72%
533 Vicente Street 2/1.00/N/A 12 $1,159,000 $1,610,000 38.91%
56 Majestic Avenue 3/2.00/N/A 14 $899,000 $1,180,000 31.26%
1237 Chestnut Street 2/1.00/5 11 $999,000 $1,300,000 30.13%
945 Teresita Boulevard 3/2.00/N/A 13 $1,145,000 $1,470,000 28.38%
780 Pacheco Street 3/2.00/N/A 12 $1,295,000 $1,655,000 27.80%
144 Putnam Street 3/1.00/N/A 12 $1,045,000 $1,333,144 27.57%

It’s Bay to Breakers weekend…as you might already know. Have fun, be safe, duck for cover, and watch out for low dangling objects that are best not to be seen in public!

See you next week, and don’t forget to follow theFrontSteps so you don’t miss a beat.

Buyers Look to Their Children’s Art & Writing Skills to Get Offers Accepted [theFrontSteps]

The List That Just Won’t Quit | San Francisco’s Top 10 Overbids Of The Week

To say the Richmond District single family home market is hot right now is a wee little understatement. It’s white hot.

Overbid of $712,000 aside, it’s another $1100 per square foot sale in an area of town previously undiscovered and overlooked. I guess the secret is out

Address BR/BA/Units DOM List Price Sold Price Overbid
571 20th Avenue 3/2.00/N/A 12 $1,388,000 $2,100,000 51.30%
1463 40th Avenue 2/1.00/N/A 14 $899,000 $1,350,000 50.17%
844 Detroit Street 3/1.00/N/A 22 $899,000 $1,300,000 44.61%
171 Ledyard Street 2/2.00/N/A 11 $599,000 $850,000 41.90%
340 Benton Avenue 3/2.50/ 15 $829,000 $1,142,500 37.82%
1523 26th Avenue 3/2.00/N/A 17 $998,000 $1,375,000 37.78%
3030 Rivera Street 3/2.00/N/A 12 $899,000 $1,235,000 37.37%
4045 Ocean Avenue 3/2.00/N/A 10 $1,195,000 $1,622,000 35.73%
849 44th Avenue 3/1.00/N/A 10 $1,049,000 $1,410,000 34.41%
74 Winfield Street 76 2-4 Units 29 $995,000 $1,320,000 32.66%

Special mention to my listing at 849 44th Ave that barely made it to the list even as nuts as our situation there was!

These lists are very “real-time”, and a good indication of pockets of our market. For a broader look at the San Francisco market I continually refer people to my favorite resource in Patrick Carlisle at Paragon Real Estate:
30+ Years of San Francisco Real Estate Cycles
Preliminary Indications of Direction of the San Francisco 2017 Market

Have a great weekend! It’s gonna be a cracker, so get out and enjoy.

Five days later and $361,000 Over, 849 44th Ave Sets New Record Price Per Square Foot in the Outer Richmond [theFrontSteps]