The high-end housing market in San Francisco is seeing plenty of sellers hoping for holiday gifts in the form of a purchase contract. To that end, sellers are conceding a bit on their original prices. Between October and the first week in December, a total of 59 homes above the $1.5M price point saw price reductions in their list prices.
On the condo front, 35 units originally priced at $1.5M or above have seen prices drop since October. (This data is courtesy of my Pacific Union Estates division statistics, discussed during our twice monthly Estates meetings.)
This is really a rather startling amount of price reductions. Heads up: December is the time to take advantage of the market and interest rates. Particularly if you are looking for an estate home in San Francisco, the stars are aligned for you to get a good deal.
I stopped in to see how things are panning out at Chelsea Park, the development in Mission Dolores on 19th Street, between Guerrero and Dolores. It’s a somewhat suburban-type development, more like something you’d see in southern California. Walking around the courtyard, I felt like I was in a Universal Studio set for a movie set in a tidy English village.
But if you’re looking for a townhouse, or a basic one- to three-bedroom condo, Chelsea Park’s developer is ready to make a deal. There are two one-bedroom units in the $600,000s, and a couple 2+ or 3-bedroom townhomes listed at $900,000. I’m betting the prices could go lower. There are currently eight residents living in the complex, and 14 units are in escrow.
The parking garage features stacked parking, which involves automatic lifts. But if the alternative is having no parking in this neighborhood, stacked is better than nothing.
On the downside, the units feel a bit cramped, and don’t have a ton of light. But the finishes are quite nice, and the location is central to everything you’d want in Mission Dolores. The park is half a block away, and who can argue with having Tartine around the block? You can beat the crowds and get on line early for your baguette.