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July 16, 2015

Luxury Homes Lead the 21+ DOM Crowd


Summer home shopping can be a challenge, because inventory is typically lighter. Surprisingly, there are currently 221 single-family homes on the market as of this writing, and almost half are looking at a days on market (DOM) count of 21 days or more.

So what’s out there right now? I have two words for you—luxury homes. The average list price of the 97 houses that have been on the market for 21+ days is $2,686,507. Thirty one percent of those homes are listed for more than $2,000,000, and 13% for $6,200,000+.

Most expensive: King of them all is 3800-3810 Washington in Presidio Heights (photo, left), purchased back in 2007 by tech entrepreneur and CNET founder Halsey Minor. It’s been on the market for 181 days, and is a replica of the Petit Trianon in Versailles. The plan to renovate the 20,516 square foot mansion and guest house on three parcels didn’t happen, and the property is now being sold in a bankruptcy sale. List price is $17,995,000.

Under $1M: The market for houses listed for under $1,000,000 is a relatively small one. There are 38 homes listed in this range right now, with 28 of them located in the southeastern neighborhoods like Bayview, Crocker Amazon, Excelsior, Visitacion Valley and Portola.

Cool finds: I sorted through these current offerings and found some great properties that are definitely worth considering. Here are my picks:

3165 Folsom / Bernal Heights
4BR/3.5BA, 2556 sq feet, 2 pkg
DOM: 28
For buyers looking for a large house in Bernal Heights, 3165 Folsom is a good bet. Plenty of space, remodeled kitchen and seismic retrofitting are all in place. No real yard, but this property is about getting a lot of house with period detailing—right around the corner from Precita Park and its restaurants, cafes and shops.

101 Eastwood / Westwood Park
3BR/2BA, 1755 sq feet, 1 pkg
DOM: 28
101 Eastwood is a gracious home in the suburban enclave of Westwood Park. It has great presence on a corner lot and three spacious bedrooms, a large, remodeled kitchen and nicely done baths. You’re a short walk away from Ocean Avenue, and near public transportation and 280.

811 24th Avenue / Central Richmond
3BR/2.5BA, 2240 sq feet, 2 pkg
DOM: 42
This is a beautifully done Edwardian that’s only half a block from Golden Gate Park. 811 24th Avenue has the coveted three bedroom/two bath layout on the upper level, and I am a big fan of the kitchen. There’s also potential to expand further on the garage level. The original list price was $1,780,000, but I think the current $1.5M is just right.

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