2021: June San Francisco Real Estate Insider
Welcome to summer (well, almost). As we experience a re-opening of the City, more tourists and office openings, hopefully we are on track for some form of normalcy in the coming months.
If you are in the market for a single family home, you know how competitive available properties are to obtain. This competition is not just San Francisco; but all over the core Bay Area. As of late, there have been some mind-numbing prices paid for homes. These prices can be looked at in the form of an over bid or “above asking” price. Looking at San Francisco median single family sales since March 1st, the asking price was $1,550,000, the sale price was $1,810,000 and the days on the market was a paltry 11 days! The average over bid was 17%.
In looking at some notable over asking sales since March 1st, we have some high dollar sales.
268 Wawona Street; listed at $2,895,000, sold at $4,250,000 (47% above asking $)
86 San Jacinto Way; listed at $3,498,000, sold at $4,726,000 (35% above asking $)
195 San Leandro Way; listed at $3,995,000, sold at $5,400,000 (35% above asking $)
15 Walnut Street; listed at $7,500,000, sold at $9,998,000 (33% above asking $)
195 San Anselmo Avenue; listed at $3,800,000, sold at $4,999,999 (32% above asking $)
Looking at some of the data from the San Francisco market, we see real upward trends in the February / March months. I think its no coincidence that the timing fits well with (a) pending summer / kids out of school and (b) clarity on vaccinations (i.e. returning to some form of normalcy soon).
Still thinking about getting out of San Francisco, but want to stay in the Bay Area? Below are the median house prices. Good info to know if you are ponding a move.
