I just closed on two properties in two different neighborhoods. The beautiful loft pictured was listed for $1,165,000 and sold for over the list price. Although SOMA properties generally stay on the market longer with many selling under the list price, the building at 380 10th Street is very popular. There have been a number of recent sales in this building in the past year, most on the market for a short time, selling over the list price. One of the reasons for this may be that it is a popular location with a number of attractions – cafes like Blue Bottle Coffee, restaurants like Bar Agricole, and grocery stores, like Trader Joe’s. These are also some of the nicest industrial chic lofts I have seen in the city.
In a very different location but appealing as well was my newly renovated listing at 2331 21st Avenue. It was listed for $995,000 and also sold over the asking price. It was a perfect first time buyer condo or an investor’s dream. Totally turn-key, it had nice light and 4 bedrooms and 2 bathrooms with a nicely updated kitchen. Within a few blocks was a beautiful park, SF Wine Trading Co., and Safeway.
The Current SF Market
Both of these listings came on in June when the market typically starts to slow a bit in the city since people begin taking vacations. Yet, these listings were both in contract by July 4th, with one of the offers actually accepted on the 4th. On the ground, the market still seems to be pretty active. A colleague of mine put 3 condos on the market in early July in Pacific Heights and all 3 are now in contract within a month. Client buyers of mine were looking at a condo in Anza Vista this past weekend when it had just come on the market with its first showing on Saturday. After being on the market just 4 days, there were already at least 7 disclosure requests out, and the agent looked at offers today. However, when I walked into a home on Broker Tour in Lower Pacific Heights which has languished on the market, the agent admitted that it had come on the market at a price that was too high and now is not selling.
As usual, when it comes down to it, making sure the property looks attractive, is marketed well and most importantly priced right will get the best price and a relatively quick sale. If you are interested in having help putting your home on the market, please don’t hesitate to call me for advice!