What’s Selling for Under the List Price?

A quick check at selling patterns in central San Francisco neighborhoods since September 1, 2012 yielded the unsurprising reality that most single-family homes and condos have been selling for more than their asking prices. However, I thought it was worth a blog post to shine the spotlight on three recent properties that sold for below their list price. If anything, this can instill hope among buyers that not every property involves multiple offers and overbidding.

117 Caselli
Eureka Valley
3BR/2.5BA, 1729 sq feet

117 Caselli is an attractive Edwardian on a great block in the Castro neighborhood. The kitchen was small and somewhat awkward, and the garage—which had been transformed into a living space—sat at the rear of the lot above the house. The property was listed for $1,349,000 on 8/17, and went into contract about a month later. Final selling price: $1.3M.

320 Lansdale
Sherwood Forest
3BR/3.5BA, 2032 sq feet

Situated in a less-than-walkable part of the city, 320 Lansdale is a detached, three-level home with a great room, two fireplaces and two decks. Listed at $1,295,000 on 8/17, the property went into contract on 8/30 and sold for $1.2M.

727 Moraga
Golden Gate Heights
727 Moraga’s proposition was that it was a modern condo in a neighborhood that attracts single-family home buyers for properties built in the 1920s-1950s. This two-level condo in a two-unit property had sweeping Bay and city views and elevator access. It was listed for $1,380,000 on 5/31, and went into contract on 8/7. Final selling price was $1,330,000.

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