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November 13, 2017

What You Could’ve Bought for Below 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. November brought with it some sales that veered from the typical pattern, in neighborhoods where it absolutely is the norm to overbid. Congrats to these buyers and sellers who wrapped it up before the end of the year:

136 6th Avenue
Lake Street
List Price: $3,125,000
Sale Price: $2,650,000
Days on Market (DOM): 39

136 6th Avenue was a single-family house with a legal one-bedroom apartment down (used as an office by the former owners). The location at 6th and Lake was excellent, and perhaps this home suffered from less-than-stellar marketing (no word yet if the red tea kettle and the pepper mill were included in the sale).

1958 24th Avenue
List Price: $1,198,000
Sale Price: $1,165,050
DOM: 55

It’s unusual in the current market for a house in the Parkside to sell for under the list price. Blame it on the faux stone exterior and the lack of a headboard and curtains. Perhaps starting at $1.2M was ambitious, and buyers got scared away.

550 Davis #26
Financial District
List Price: $3,100,000
Sale Price: $2,638,300
DOM: 73

This two-level condo with Bay Bridge and water views had an nice floor plan with four bedrooms and a cool Jackson Square location. The high $1300+ per month HOA dues (that included earthquake insurance) cut down the buyer pool. And there are a lot of options at the $3M level when it comes to condos. But the sellers were obviously serious, and the final sale price made sense.

52 Clipper
Noe Valley
List Price: $1,650,000
Sale Price: $1,490,000
DOM: 34

A Noe Valley single-family home for less than asking? It can happen! 52 Clipper came on the market for $1,650,000, making buyers wonder how much more the sellers really wanted for what typical Noe buyers would deem a “project house.” The two-bedroom, 1122-square foot home was in good shape, but needed an overhaul and had good development potential.

1255 California #204
Nob Hill
List Price: $1,495,000
Sale Price: $1,360,000
DOM: 84

Half a block from Huntington Park and Grace Cathedral sat this lovely two-bedroom condo with nice outlooks, parking and in-unit laundry. But $1,000+/square foot didn’t fly with the Fall buyers. The final sale price looks like a pretty good deal to me.

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