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August 9, 2018

What You Could’ve Bought: For Under List Price

Properties in San Francisco generally sell for more than their asking prices. But there were some recent sales that bucked this trend—particularly ones involving homes in the $2M+ range.

Keep your eye on the market as we move toward the Fall. We’ll be getting an inventory boost right after Labor Day, and those “leftover” summer homes may turn out to be great buys.

In the meantime, here are a few homes that recently sold for under their list price:

1325 Lake Street
Lake Street

List Price: $3,000,000
Sale Price: $2,275,000
First Listed: Sept 2017

A large, traditional home in need of a facelift, 1325 Lake was first listed last Fall for $3M, and the price gradually went down from there. The house has a great location near Mountain Lake Park and Laurel Village. This is a good example of a property with good bones that current or future owners can take to the next level, it just took a bit of time to find the right buyer—at a price that will allow for solid renovations. [Listing courtesy of Compass]

1859 Scott
Lower Pacific Heights

List Price: $2,990,000
Sale Price: $2,735,000
Days on Market (DOM): 40

This spacious Queen Anne 3BR/3BA condo with parking was nicely renovated and perhaps didn’t show as well as its other staged competitors. The new owners can now enjoy two master suites, private outdoor space, and a large, well-appointed kitchen. 1859 Scott is in a very central location near lots of restaurants, shops and parks. [Listing courtesy of Sotheby’s International Realty]

88 Castenada
Forest Hill

List Price: $2,700,000
Sale Price: $2,465,000
Days on Market (DOM): 97

Another home that didn’t show well, 88 Castenada has five bedrooms and 4700 square feet and isn’t far from the Forest Hill Muni station. The sellers accepted an offer early on, but it fell out of contract and the price went down from there. [Listing courtesy of Scott Keller Real Estate]

49 Seward #1
Eureka Valley

List Price: $1,595,000
Sale Price: $1,450,000
Days on Market (DOM): 35

49 Seward #1 started out with a big price for a 2BR condo in a somewhat remote Castro location. But the unit has views, chef’s kitchen and a luxurious master suite. And did I mention two-car parking? [Listing courtesy of Vanguard Properties]

131 Collins
Jordan Park/Laurel Heights

List Price: $1,850,000
Sale Price: $1,780,000
Days on Market (DOM): 35

This handsome Marina-style home at 131 Collins was quite attractive, with a view master suite, and remodeled kitchen and baths. It’s located near Laurel Hill Playground, Trader Joe’s, Laurel Village and Sacramento Street shops and restaurants. [Listing courtesy of Hill & Co.]

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