SF homes selling over the asking price

September has started this quarter off with a bang with SF homes selling over the asking price!  In District 7 two homes have sold this month and both went $1 million or more over asking.  The house at 3621 Washington in Presidio Heights sold for $2.5 million over the asking price closing at $7.5 million.  The house has 4 bedrooms, 5 bathrooms and totals 3,650 sq./ft. on a 4,996 sq./ft. lot.  It was listed for $4,995,000 and sold 21 days later for $7.5 million in cash.  That is $2,054 per sq./ft. for an outdated house in Presidio Heights with very little views.  The average sales price for the neighborhood is $7,085,000 and sells for $1,547 per sq./ft.

Another shocking sale this week was the house at 207 Avila in the Marina District.  It was listed for $2.9 million and sold this week for $3,750,000 in cash after being on the market for 22 days.  The house has 4 bedrooms, 2.5 bathrooms and totaled 2,040 sq./ft. sitting on a 3,132 sq./ft. corner lot.  For a house that needed work and did not have any views it still sold for $1,838 per sq./ft.  The average price per sq./ft. for a single family house in the Marina is $1,518.  Just last year the house across the street at 196 Avila sold for $3.6 million totally remodeled.

The San Francisco buyers out there have cash and they are not afraid to spend it when buying a home.  If things continue at this pace this quarter is going to set new records for home prices in District 7.  If you have a home to sell in San Francisco contact me to find out how much your home is worth.  Stay tuned to see how many more SF homes selling over the asking price!