Wednesday, March 13, 2013

Off Market Sales

Admittedly this is anecdotal and without the usual hard statistics we report, but there seems to be a significant increase in "off market" sales recently.  Just in our immediate neighborhood on Potrero Hill there have been two such sales this month:

700 Carolina ...

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...received two pre-emptive offers and a final sales price reported at $1,265,000 ($15,000 over the "asking price").  A 4 bedroom, 2 bath home of approx. 1,600 sq. ft. for a price of $790/sq.ft.

1425 20th St. ...
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...received four offers and sold for $1,055,000 ($105,000 over the "asking price").  According to records, it's an 1,100 sq. ft. 2 bedroom, 1 bath home which works out to almost $960/sq. ft.

We've also received at least 6 e-mails from agents in the last week with properties for sale that are not shown on the MLS.

All of this underscores the lack of inventory available and a continued strong demand by buyers.

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