The San Francisco market has really kicked into high gear over the past three months. Buyers are coming out of the woodwork, and to be honest, they’re creating a sense of desperation from which sellers are seriously benefiting. A variety of factors that you’ve undoubtedly read about in the media is contributing to this sudden real estate boom—tech job sector growth, astronomical rents, the Facebook IPO, rising consumer confidence. You name it, it’s fueling buyer willingness to lean more on emotions (and fear) and “write high.”
One recent example is 33 Henry, a modest 2BR/1BA first-floor condo with less than 1,000 square feet and tandem parking on a nice block in Duboce Triangle that was listed for $699,000 about a week ago. 25 offers later, the unit is reportedly in contract for above $800,000.
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