October has been the month for buyers in the $2M+ range to throw hundreds of thousands of dollars over asking for single-family homes (and one condo) in various neighborhoods across the city.
Deep-pocketed buyers are obviously feeling pretty cheeky about our Bay Area economy.
The most egregious example of extreme overbidding happened at 128 26th Avenue in the Lake District (see photo, left). The custom 4BR/2.5 home at the Sea Cliff entrance has a roof deck with panoramic views, and was listed for $2,995,000. So why not pay a million dollars more, right? That’s exactly what happened, as the sale closed on October 20th for $3,910,000.
Here are a few more extreme overbids that went on the books in October:
1 Miguel | Glen Park
List price: $1,675,000
Sale price: $2,600,000 Continue Reading