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March 20, 2017

What You Could’ve Bought: For Under The List Price

The selling pattern in San Francisco continues to be list low, sell for more. However, it doesn’t always work out that way for some sellers. Properties that sell for under asking typically have spent a good chunk of time on the market, and are often in the multi-million dollar price range. But that’s not always the case. Here are a few examples of homes that didn’t have a fast path to a signed contract:

1290 Portola
West Portal
List Price: $2,198,000
Sale Price: $1,724,000
Days on Market (DOM): 91

This large, stately home was in easy walking distance to the West Portal retail area. But its busy location on the corner of Portola and Dorchester scared more than a few buyers away. Not a bad deal here; the house has three bedrooms on the same level and a nice, big kitchen.

3812 24th Street #A
Noe Valley
List Price: $1,495,000
Sale Price: $1,225,000
DOM: 139

Boasting three bedrooms and two baths, 3812 24th Street #A was a spacious condo in a highly convenient location—perhaps a little too convenient? Many buyers may have been turned off by the prospect of living right on the popular retail strip. The lack of parking probably didn’t help, either. And buyers were limited in loan options due to the commercial component in the building.

1474 McAllister
Alamo Square
List Price: $1,899,000
Sale Price: $1,750,000
DOM: 93

1474 McAllister was the top floor in a new construction building one block from the Divisadero corridor, and around the corner from Alamo Square Park. And it had that lovely deck (above). But it was situated next to the church parking lot, which means there’s potential for more new construction condos next door in the future.

24 Page Street #3
Hayes Valley
List Price: $1,300,000
Sale Price: $1,090,000
DOM: 88

Two-level condos are all the rage, and 24 Page #3 offered that and more, in a contemporary building. There was also in-unit laundry, a small deck off the living room and parking/storage. The building was a few blocks south of the heart of Hayes Valley, and near Market Street transportation.

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