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July 15, 2021

Sunset and Parkside Command Top Dollar

2543 16th Ave

Buyers continue to snap up homes in the west part of the city at a rapid pace, a trend that started as far back as 2016 but has picked up speed ever since.

Sales in the Sunset and Parkside escalated during Covid as the need for private space and yards increased. The average two-bedroom house in the Sunset/Parkside is now $1.6M, with three bedrooms clocking in at $1,741,000.

Of the 88 houses sold from May to mid-July, 50 closed for between 30-74% over asking. Of course, all these overbids are to be expected when sellers and listing agents slap on the usual $995,000 or $1,095,000 price tags and let buyers have at it.

2543 16th Avenue (see photo, courtesy of Keller Wiliams), with its “charming, functional kitchen” and “ready for a new owner to customize” selling points was listed for $1,095,000 and sold for $1,910,000 (see photo). Yikes.

If you’re a buyer targeting these neighborhoods, make sure you have a firm grasp on the values so you don’t spin wheels writing offers on properties that will be out of range.

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