Lots of Presents…

For early December, there’s a lot of activity taking place

Houses for your consideration: Cesar Chavez, Oak Street, Castro Street and more.

Houses for your consideration: Cesar Chavez, Oak Street, Castro Street and more.

This weekend saw 48 new listings come on as we continue to skirt along the bottom of the inventory calendar. Of those there are a good number worth looking at. I’ve culled through the list and my picks can be found here. Remember for a complete listing of this weekend’s open homes can be found here at www.sfopenhomes.com. Be sure to let me know what you think of the site as I will send the feedback to the powers that be. And speaking of which, I was happy to learn that I’ve been appointed as the Co-Chair of the MLS and Technology Committee for the San Francisco Association of Realtors for 2014!

What’s Noteworthy

Top among the houses you should see this weekend is 2220 Castro at Valley (see the “before” & “after” on the left) on Sunday the 8th from 1:30 p.m. – 4:30 p.m. (not listed in the attached pdf). Yes, it’s a $3.295M house, but “Wow!” is what I can say. The quality is over the top and it’s the best treatment of a backyard retaining wall I’ve seen and it’s a chic exterior to boot. All the more impressive when you consider that this house was a 1000 sqft cottage when they started in January.

There are a few cute charismatic homes in the Sunset in the 16th, 17th and 20th Avenue areas in the $700K-$900K range. There’s an interesting opportunity of a single family home on Cesar Chavez between Dolores and Guerrero. The massive nearly new build at 1612 Church Street that came on at nearly $3.5M is still on the market with a $400,000 price reduction (!). Everyone and their sister will be flocking to 142 Henry Street as well as the other condos located in Noe Valley and the pair of newly converted condos on Masonic. Mind you, all of these have seemingly teaser-ish prices….

Data and Closings

Over the past 7 days we saw 82 single family homes close escrow, 66 condos and 13 2-4 unit buildings and 6 buildings with 5 or more units.

  • For single family homes, the average closing price was 103% over its list price with the outliers being the single family home at 735 Detroit (nice, but not that nice), which was listed at $949K and sold at $1.335M, at 140% of list price and 21 Laidley, listed at $1.599M, selling at $1.41M, a mere 88% of its list price. The least expensive home was a tenant-occupied home in the Ocean View district that closed at $520,000 for 1385 sqft and the most expensive was 2451 Bay Street, a 4 bed, 2 bath home with 2400 sqft. Median list price was $818K with an $817K sale price.
  • Condos averaged 101% of list prices with 69 Central a 3 bed, 2 bath, 1500 sqft condo listed at $995K selling for $1.225M being on the market for 21 days and the low end being at 85% for a condo listed at $2.695M closing at $2.3M for a 3 bed, 3 bath home. More relevant is that the lease expensive condo was at $363,000 for a studio at 631 O’Farrell at 520 sqft. Median list price was $799K with an $845K sale price for these homes.