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April 6, 2010

$13.5M Pac Heights Sale Paves Way for Luxury Market Upswing


The sale at 2342 Broadway last week rounded out the first quarter of 2010 on a very high notes for the luxury San Francisco housing market. Listed at the end of January for $14M, the home closed escrow for $13.5M, after only 38 days.

A total of 73 single-family homes sold in the first quarter for more than $1.5M, with the average being $2,532,827. Broadway was the most expensive house sold, but two others sold for more than $5M.

And condos fared pretty well, too, despite this property category’s general drop in value over the past year. A total of 18 condos sold for more than $1.5M, at an average of $1,891,667. The most expensive unit sold was #511 at 200 Brannan, a 3BR/3.5BA, 3,380-square foot unit with two-car parking that traded hands for $3.2M in an all-cash transaction.

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