The San Francisco condo market is softening when it comes to overbidding. Though aggressive overbidding (20% or more over list price) has been happening on select properties this year, the gap between list and sale price for the average condo is narrowing.
The average citywide, year-to-date condo overbid is four percent. Of the 301 condos sold as of this writing, only 20 changed hands for 20% or more over the list price.
A handful of neighborhoods saw one or two sales in this range—Noe Valley, Mission Dolores, Hayes Valley, Lake, Lower Pacific Heights, Pacific Heights, Nob Hill, NoPa and Potrero. Continue Reading