Listing price: $1,099,000
Bathrooms: 2 full, 1 half
Size of home: 1,846 sq ft
Although listing for $1,099,000, the home featured here ended with a final sale price of $1,170,000, according to the broker involved. This upward bidding reflects strength in the San Francisco market, and compared to last year the city is “seeing more buyer confidence, more buyers, considerably less inventory and a more cautious lending environment, with no real appraisal issues,” says Mark Best of Coldwell Banker Residential Brokerage.
Homes priced in the $1 million range sell slower than entry-level homes priced up to $800,000, says Best, but are selling faster than homes priced above $2 million. However, San Francisco is one of the U.S. cities where homes are selling the fastest.Best sees this trend continuing to improve from last year. He believes that one of the biggest challenges to the market will be to reduce inventory, but sales are helped by low interest rates and a positive jobs outlook.