Off-Market Sales Slow in September

With the exception of the $9.5M house that sold in Potrero, the “off-market” market was pretty slow last month.

Only one other house sold without hitting the MLS—a 3BR/2BA in Westwood Highlands listed and sold for $1,500,000. Given that 157 houses changed hands in September citywide, the off-market sales were minimal.

But of the 153 condos that sold last month, 11 of them were traded off market. One such sale at 733 Front Street off Jackson Square proves that off-market “opportunities” are often not buyer deals. The 2BR/2BA, 1378-square foot unit was tenant occupied sold for $2,400,000 (all cash). Yes, that’s about $1,740/square foot.

The least expensive—and smallest—off-market condo sold last month was a 393-square foot 1BR/1BA in Bernal Heights for $640,000.

And yes, that’s $1,628 per square foot.

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Eileen Bermingham

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