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November 20, 2023

What You Could’ve Bought For Below List Price

1931 Anza Exterior

Contrary to a good portion of single-family homes that were overbid in 2023, there were also many that changed hands for below asking. These types of sales will have implications for similar homes currently on the market, and may motivate sellers to make deals.

It’s worth noting that most under-asking sales don’t happen out of the gate. Weeks or months typically go by before sellers are willing to negotiate. And that negotiation tends to happen more frequently as we approach the end of the year.

Here’s a look at what you could’ve bought recently for under list price:

1931 Anza
Inner Richmond
List Price: $1,795,000
Sale Price: $1,650,000
Days on Market (DOM): 51
1931 Anza Exterior
This charming home at 1931 Anza had been in the same family for 50+ years and needed a complete overhaul. There was no parking, and the house shared a wall with the mirror image of itself. Starting out at $1.8M was pretty ambitious, especially given the lack of a garage and the high cost of construction these days. The property hung out on the market throughout the summer, had a couple price reductions and finally found a buyer willing to pay $1,650,000. [Listing courtesy of Vanguard Properties]

579 Flood
Westwood Park
List Price: $1,375,000
Sale Price: $1,280,000
DOM: 32
579 Flood
579 Flood was your basic 2BR/1BA, 1,049-square foot home with an updated kitchen and bath over a large garage that offered potential for developing additional living space down. There was a large yard that was somewhat of a blank canvas for the next owner. The sale price is about right for this type of  house in this location. [Listing courtesy of Compass]

1430 Masonic
Buena Vista/Ashbury Terrace
List Price: $4,995,000
Sale Price: $4,100,000
DOM: 190
1430 Masonic
On the market for a good portion of the year, 1430 Masonic had 4BRs/3.5BAs across 3,826 square feet. The home was tastefully done and had an in-law unit, nice outdoor space, views and a detached garage. The sellers only had to do one price reduction and were able to negotiate to a price they could live with in the end. [Listing courtesy of Compass]

147 Ripley
Bernal Heights
List Price: $4,250,000
Sale Price: $3,400,000
DOM: 52
147 Ripley
147 Ripley’s unassuming stature and exterior belied its massive views and 3,000+ square feet. Purchased for $3,895,000 in February 2020, the house came on the market in September for $4,250,000 and went through a few reductions before landing on its $3.4M sale price. That sort of shakes out, given that the market has gone down since the go-go days of 2020 and 2021—when buyers were clamoring for single-family homes with private outdoor space and enjoying much lower interest rates.  In this case, though, the buyers paid cash. [Listing courtesy of Compass]


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