Signed, Sealed and Closed in San Francisco: This Week’s Closings in Residential Real Estate
Closing Time in San Francisco
There were 200 closed properties in the City this past week. Here are some fun numbers and facts…
- 86 Single family homes
- 89 Condos & TICs
- 20 2-4 Units
- 4 5+ units
- 2 Lots
Some Trends:
- Houses in the Sunset closed about 5% over asking prices. This was true last week too.
- Houses in the Mission, Inner Mission and Bayview closed anywhere from 15% to 35% over asking prices.
- SOMA and South Beach Condos sold an average of 15% over asking prices.
And Some Stories:
The large redone single family/2 unit at 132 Germania bought last year for $908K in December 2012, renovated extensively with added garage, living area and then listed for $1.998M sold for $2.15M (107% over list) this week after 22 days on the market.
Before at $908,000 in Dec 2012…
Continuing on the trend of buying two instead of one unit (seen at 23rd and Folsom, 20th and Dolores/Church) another stunningly redone building at 36–38 Camp listed separately and now ultimately sold as a pair sold for 103% of its combined list price of $3.565M at $937/sqft. This is well and fine, but consider it was sold in May 2012 for $1.25M after 12 days on the market at 157% over its then asking price of $795K all-cash with 31 offers, this property has sure seen some change over the past few years not to mention going from 2800 sqft. to over 3800 sqft. along the way.
Before… at $1.25M in May 2012…
And after in Nov 2013 at $3.565M
