Buyers Target SF Condos in May

Buyers Target SF Condos in May

Here’s how things shook out in the condo market last month:

Average Price: $1,365,896
Median Price: $1,230,000
Average Price Per Square Foot: $1,114
Days on Market: 36
Average Overbid: 5.87%
20%+ Overbids: 32 (8.8%)

My Take: The San Francisco condo market made a strong showing in May, with a similar number of sales and a slightly higher average sale price compared to April. Buyers shied away from massive overbids, with fewer than ten percent of condo sales involving overbids of more than 20%. The largest overbid was for a Bernal condo at 1593 Treat (see photo), one of two condos in a duplex that went on the market simultaneously. The 2BR/1BA, 1130-square foot unit was remodeled, had in-unit laundry and two-car parking and sold for $1,510,000—$515,000 over the list price. Its 3BR/2BA, 1760-square foot top-floor counterpart at 1595 Treat had similar results. Listed for $1,495,000, the unit closed for $1,995,000. Chalk one up for the continued popularity of condos in smaller buildings with all the amenities. [Photo courtesy of Kindred SF Homes]

Comments are closed.

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

Back to Top

Back to Top

Show All
Marina
Mission