Column by Alexander Clark
When the editor of the Richmond Review asked me to contribute here online, I thought a weekly “market update” would be great. Reality is, our market doesn’t change weekly, so I’ll save those market updates for theFrontSteps monthly report on our site (The latest taking a look at housing affordability in San Francisco). But what we can do here weekly, and we know people love (having done this for over a decade city wide), Overbids, Underbids, and everything in between..specifically for the Richmond and Sunset/Parkside Districts of San Francisco. We call it real estate porn.
This week, we set our eyes on 533 16th Ave, a top floor, 3 bed, 2 bath, renovated condominium in the Central Richmond with awesome views that just sold for $155,000 over its $1,595,000 asking price for a final sales price of $1,750,000. By the numbers it came down to $1,080 per square foot…right in line with what we told you here last week about the average for the Richmond hovering around $1000 per square foot, and right in line with the correct way to market and sell a home in San Francisco. Kudos to all involved.
For all of the overbids we see so often, there are certainly underbids, and properties that simply don’t sell. There’s a definite reason for that, which I’ll get to soon. Stay tuned….
Alexander Clark is a Richmond District resident and founder/realtor @ theFrontSteps.com – San Francisco Real Estate…with a twist & some flavor
Categories: Alexander Clark Real Estate