To buy one home in San Francisco, you “need to be prepared to spend more for a house than anyone else has in the history of the world,” a local real estate agent said.
San Francisco’s housing market is known as one of themost expensive in the United States, and recent home sales well above asking in the area are illustrating that reputation.
Rohin Dhar, the San Francisco real estate agent who made the remark, told the California Post that the added demand is because the conversation around the city has shifted in a more positive direction.
“I think over the last year or two, certainly the perception is switched [on] San Francisco as a city, before people maybe said it was on the wrong trajectory, and now people feel like it’s on the right trajectory. And so that’s creating a lot of demand for verylimited supply of homes,” he said.
One home in the city’sNoe Valley neighborhoodsold for $7.25 million, about $1.35 million above the original $5.9 million asking price. The 3,434 square foot home stayed on the market for just a week before selling on Feb. 18.
While the Noe Valley home is well above the city average for square footage — 1,252 square feet inJanuary of this year accordingto Realtor.com — homes at the other end of the size spectrum are sought after as well.
A 1,085square foot homein San Francisco’s Eureka Valley neighborhood sold for $405,000 above asking at a monstrous $1.9 million. The home is a 2-bed, 2-bath with a wood-colored garage and a skylight in its living room. The home stayed on the market for less than a month before being sold.
Dhar also chronicled several of thehome sales on his X account, which he says he does to show “what’s going on in the market.”
“Part of the reason the San Francisco economy is so strong, Is because you have to become pretty darn rich and possibly invent super intelligence, To achieve 3.5 bathrooms,” hesaid of theNoe Valley home.
Of the Eureka Valley dwelling, he said that buyers should prepare “to spend more for a house than anyone else has in the history of the world.”
Source: California Post – Breaking California News, Photos & Videos
