The San Francisco real estate market is a minefield of cash buyers right now, which makes life very difficult for buyers who need loans. But it’s helpful for both buyers and sellers to know what’s going on in the all-cash segment of the market. Here’s what’s been happening.
Single-Family Homes
(All data based on reported cash sales in MLS, March 1, 2015 – May 6, 2015)
Number houses sold for cash 110 (27% of total sold)
Average price $2,090,775
Average overbid 15.44%
Number homes with 20% or more overbids 42
Neighborhoods with most cash sales Outer Parkside, Noe Valley, Bernal Heights, Inner/Central Richmond
Most aggressive overbids
178 Sea Cliff / Sea Cliff / List price: $6,298,000 / Sale price: $11M / 74.66% (see photo above)
99 Ellsworth / Bernal Heights / $850,000 / $1,425,000 / 67.65%+
63 Park Hill / Buena Vista / $2,295,000 / $3.8M / 65.58%+
4154 24th Street / Noe Valley / $1,248,000 / $1,950,000 / 56.25%+
3475 Jackson / Presidio Heights / $3,995,000 / $6,175,000 / 54.57%+
3336 23rd Street / Mission/ $1,495,000 / $2,306,000 / 54.25%+
2 Sumner / SoMa / $1,195,000 / $1,730,000 / 44.77%+
3330 23rd Street / Mission / $1,525,000 / $2,145,000 / 40.66%+
Condos
Number condos sold for cash 111 (22% of total sold)
Average price $1.4M
Average overbid 11%
Number condos with 20% or more overbids 27
Neighborhoods with most cash sales South Beach, Yerba Buena, Mission, Russian/Nob Hills, Pacific Heights
Most aggressive overbids
3065 Washington #3 / Pacific Heights / $1,998,000 / $3,210,000 / 60.66%+
979 Guerrero / Eureka Valley / $979,000 / $1,450,000 / 48%+
755 Florida #7 / Mission/ $1,095,000 / $1.6M / 46%+
61 Germania / Hayes Valley / $899,000 / $1,310,000 / 45.72%+
2266 Jackson / Pacific Heights / $1,695,000 / $2,410,000 / 42%+