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October 30, 2017

Luxury Market Sees Extreme Overbids in October


October has been the month for buyers in the $2M+ range to throw hundreds of thousands of dollars over asking for single-family homes (and one condo) in various neighborhoods across the city.

Deep-pocketed buyers are obviously feeling pretty cheeky about our Bay Area economy.

The most egregious example of extreme overbidding happened at 128 26th Avenue in the Lake District (see photo, left). The custom 4BR/2.5 home at the Sea Cliff entrance has a roof deck with panoramic views, and was listed for $2,995,000. So why not pay a million dollars more, right? That’s exactly what happened, as the sale closed on October 20th for $3,910,000.

Here are a few more extreme overbids that went on the books in October:
1 Miguel | Glen Park
List price: $1,675,000
Sale price: $2,600,000

155 Downey | Buena Vista/Ashbury Heights

445 Douglass | Eureka Valley

714 Waller | Hayes Valley

1914 Webster | Lower Pacific Heights

33 Capra | Marina

101 Santa Marina | Bernal Heights

988 Guerrero | Eureka Valley
4BR/4.5BA condo

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