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September 27, 2021

September 2021 Market Check: How Are We Doing?

121 Theresa exterior

September sales are in, and it looks like the San Francisco single-family home and condo markets are as robust as ever—assuming certain property attributes and locations are in play.

Here’s what’s going on, based on sales from September 1-23, 2021:

Single-Family Houses
Number sold: 165
Median price: $1,795,000
Avge overbid: 12.24%
# houses overbid 20%+: 70
Everybody loves a single-family house in San Francisco. The homes that really fly off the shelves have three or more bedrooms, additional space for guests or a family room, parking and a desirable location. Almost half of these homes sold for more than 20% over the list price. There were a few eye-popping sales this month; those never seem to get old. Here’s the lineup:

121 Theresa | Mission Terrace
3BR/2BA, 1664 sq ft
List price: $1,525,000
Sale price: $2,250,000
Percent over list: 47.5
(Photo courtesy of Compass)

348 Eureka | Eureka Valley
4BR/4BA, 2645 sq ft
List price: $2,495,000
Sale price: $3,510,000
Percent over list: 40.68

255 Topaz | Diamond Heights
4BR/3.5BA, 2655 sq ft
List price: $2,195,000
Sale price: $3,100,000
Percent over list: 41.23

2021 14th Ave | Golden Gate Heights
3BR/2BA, 2293 sq ft
List price: $1,800,000
Sale price: $2,925,000
Percent over list: 62.50

There are only 325 homes available as of this writing, with a median list price of $1.8M.

Number sold: 164
Median price: $1,200,000
Avge overbid: 5%
# houses overbid 20%+: 9
The condo market does look like it’s slowing down a bit in volume and price. With few exceptions, most condos didn’t see the same level of overbidding as that of the house market. There were only nine condos with overbids of twenty percent or more. The properties I’m seeing go into contract quickly are in central locations and all the amenities like parking, outdoor space, second bathrooms, and in-unit laundry.

There are 755 condos currently on the market, with a median list price of $1,200,000. That’s twice as many listings as the house market has.

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