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March 18, 2024

Off-Market Properties Take Off in 2024

267 14th

Sellers elect to go the off-market route for a variety of reasons. Maybe they’ll be living in their property during the marketing period and interior photos won’t bode well when it comes to online marketing. Or maybe their home is tenant occupied.

In any case, private sales happen in San Francisco and buyers shouldn’t miss any opportunities to see all available homes. As a member of Top Agent Network, I’m in the loop on off-market offerings, which means my clients won’t miss a beat. If you’d like to get a sense for what’s out there, make sure to subscribe to my monthly real estate newsletters. (Scroll to the bottom of this page to sign up.)

There have been quite a few off-market house and condo sales reported in 2024 so far. Here’s a breakdown of what’s happened in that timeframe:

# sold: 15
Median sale price: $1.4M
Sale price range: $810,000 – $4,995,000
Selling pattern: Most of the 15 homes closed for above list price, with two selling for 40-44% over the asking price and one for 27% above.
My pick: 267 14th Avenue in the Central Richmond. The 3,200-square foot three-story home was built in 1912 and was fully renovated. There were five bedrooms and three-and-a-half baths, a large kitchen open to the dining area and a deep yard. Listed for $3,895,000, the home sold for $3,825,000 in an all-cash transaction. This home had been on the market in fall 2023, cancelled and then sold off market. (Photo courtesy Vanguard Properties)

Median sale price:
Sale price range:
$615,000 – $7,445,000
Selling pattern:
Six units sold for below their asking price, with the rest at or above list. 
My pick:
1451 Montgomery #4 in Telegraph Hill. With views of The Bay and the neighbor’s roof deck, this 2BR/2BA unit was owner occupied and unstaged. The 1970s building lacked charm, but there was shared laundry and one-car parking. List price was $1,650,000 and the condo sold for $1,675,000. (This unit last sold in January 2019 for $1,525,000, so the sellers didn’t do too poorly.)

[Data courtesy of SF MLS]



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