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July 17, 2017

What You Could’ve Bought: Houses 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:

148 16th Avenue
Lake Street
List Price: $4,250,000
Sale Price: $3,775,000
Days on Market (DOM): 37

Buyers are seeing the most discounts in the luxury market, and 148 16th Avenue was no exception. The home was extensively renovated in 2006, and had a nice open floor plan on the main level. Big master suite, and large yard. There was also a detached rear cottage. The property came on the market at $4,250,000 but the sellers cut the price to $3,825,000 and a buyer came in a week later.

2745 Rivera
Outer Parkside
List Price: $1,099,000
Sale Price: $1,050,000
DOM: 68

The Outer Parkside is drawing buyers in droves these days, so it’s newsworthy when a property sells for under asking there. 2745 Rivera had three bedrooms across 1850 square feet and sat on a large corner lot. The twist? The in-law unit was occupied by a protected tenant.

198 Cresta Vista
Westwood Highlands
List Price: $1,749,000
Sale Price: $1,650,000
DOM: 39

This remodeled four-bedroom home with bay and ocean views actually came on the market for $1,595,000, but the price increased a short time later to $1,749,000. It sits on the border of Miraloma Park and Westwood Highlands, and is in a bit of a remote location near Mt. Davidson. But the house had excellent space—and those views!

665 29th Street
Noe Valley
List Price: $3,600,000
Sale Price: $2,800,000
DOM: 104

The sellers at 665 29th Street played a real waiting game here, only to end up agreeing to a price that was ultimately almost a million dollars less than the original asking price. Who can blame them, Noe Valley is typically off the hook. The house didn’t have the most family-friendly layout, with one bedroom on each of the three levels. But great views, and yard with a studio cottage, deck, patio and hot tub.

41 Martha
Glen Park
List Price: $2,495,000
Sale Price: $2,350,000
DOM: 35

Martha Avenue is a small street on the south side of Bosworth, so it’s not in an ideal neighborhood location. That being said, this three-bedroom house had nice finishes throughout, a great master suite, and lovely yard with hot tub.

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