San Francisco inventory has generally been low when you consider how many people want to buy homes here. That’s why I was surprised to see a fair number of sales that closed last week for under their list prices.
A few data points: Most under-asking sales were only two- to three percent below the list price, and most spent a fair amount of time on the market. Very few single-family homes sold for less thank asking, but I wanted to highlight three condos that I think were good deals for buyers:
List Price: $1,150,000
Sale Price: $1,000,000
Days on Market (DOM): 50
44 Sharon is a top-floor, 3BR/1BA condo in a five-unit building located between 15th and 16th Streets/Church and Sanchez—very central and walkable. Though the bedrooms were small and there was a bit of an awkward floor plan, the unit came with one-car parking. And did I mention the location near all modes of public transportation, tech shuttle stops and plenty of shops and restaurants?
235 Berry #417
List Price: $1,249,000
Sale Price: $1,100,000
The sale at 235 Berry #417 was a challenging one for buyers with loans, as there is pending litigation in the building. That being said, this well-appointed 2BR/2BA unit with 1070 square feet and parking had reasonable outlooks and is only a few blocks from AT&T Park and Caltrain.
516 & 520 Page Street
516: $1,195,000 | Sold: $1,250,000
520: $1,400,000 | $1,290,000
DOM: 60 for 516, 90 for 520
These newly renovated TICs in a three-unit building were spacious and nicely done. 516 Page was the lower 3BR/1BA unit with 1496 square feet, and 520 Page (3BR/2BA, 1536 sq ft) occupied the top floor. This is one example of how being open to TICs can get you good space in a central, popular location.