Summertime in the City: Where’s the Slowdown?
The market typically slows down significantly in San Francisco for the summer, but not this year. Shameless plug here: my latest listing at 3031 Octavia Street had a preemptive offer within 5 days, and this condo in Cow Hollow clocked in at $1,309 per square foot! “What’s a preemptive offer,” you ask? I’ll talk more about that in my next newsletter.
Anyway, back to the topic: The beginning of this year started off quiet with no or negative year-over-year home price appreciation. So what changed?
High stock markets, low interest rates, surging luxury home sales, limited inventory, a spring full of unicorn IPOs, and we—once again—hit new highs in median home sales prices. Read on to see the latest numbers.
In Contract: 3031 Octavia Street
This beautiful Edwardian 3 BD, 1 BA condo in Cow Hollow features gorgeous French windows with a sweet Juliet balcony, generous kitchen that supports a full-size dining table, in-unit washer and dryer, garage parking, and a roof deck with views of the Golden Gate Bridge and Marin.
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Recently Sold: 24 Clarendon Ave
A beautifully designed contemporary 4 BD, 3.5 BA home with some of the best views in the entire city thanks to wraparound windows on three levels that offer panoramic views stretching from the Pacific Ocean to downtown San Francisco—including the Golden Gate Bridge, SF Bay, and Angel Island—plus gorgeous, meandering decks and gardens that drop down and around the back. Sold: $4,250,000
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Recently Sold: 4014 25th St
A truly special and Zen-like 2 BD, 1.25 BA condo in the middle of Noe with an open floor-plan and floor-to-ceiling windows that usher in an abundance of natural light, plus a sizeable private deck overlooking a bamboo-lined backyard. Sold: $1,716,000 (38% over asking)
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Here’s some interesting data from the 2017 census—though we shouldn’t be too surprised given our proximity to the tech sector.