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January 22, 2018

What You Could’ve Bought in Late 2017 for Below The List Price

San Francisco inventory has generally been low when you consider how many people want to buy homes here. That’s why I was surprised to see a fair number of sales that closed last week for under their list prices.

A few data points: Most under-asking sales were only two- to three percent below the list price, and most spent a fair amount of time on the market. Very few single-family homes sold for less thank asking, but I wanted to highlight three condos that I think were good deals for buyers:

44 Sharon
Eureka Valley
List Price: $1,150,000
Sale Price: $1,000,000
Days on Market (DOM): 50

44 Sharon is a top-floor, 3BR/1BA condo in a five-unit building located between 15th and 16th Streets/Church and Sanchez—very central and walkable. Though the bedrooms were small and there was a bit of an awkward floor plan, the unit came with one-car parking. And did I mention the location near all modes of public transportation, tech shuttle stops and plenty of shops and restaurants?

235 Berry #417
Mission Bay
List Price: $1,249,000
Sale Price: $1,100,000
DOM: 96

The sale at 235 Berry #417 was a challenging one for buyers with loans, as there is pending litigation in the building. That being said, this well-appointed 2BR/2BA unit with 1070 square feet and parking had reasonable outlooks and is only a few blocks from AT&T Park and Caltrain.

516 & 520 Page Street
Hayes Valley
516: $1,195,000 | Sold: $1,250,000
520: $1,400,000 | $1,290,000
DOM: 60 for 516, 90 for 520

These newly renovated TICs in a three-unit building were spacious and nicely done. 516 Page was the lower 3BR/1BA unit with 1496 square feet, and 520 Page (3BR/2BA, 1536 sq ft) occupied the top floor. This is one example of how being open to TICs can get you good space in a central, popular location.

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