The house at 3621 Washington in Presidio Heights sold for $2.5 million over the asking price closing at $7.5 million. The house has 4 bedrooms, 5 bathrooms and totals 3,650 sq./ft. on a 4,996 sq./ft. lot. It was listed for $4,995,000 and sold 21 days later for $7.5 million in cash. That is $2,054 per sq./ft. for an outdated house in Presidio Heights with very little views. The average sales price for the neighborhood is $7,085,000 and sells for $1,547 per sq./ft.
Another shocking sale this week was the house at 207 Avila in the Marina District. It was listed for $2.9 million and sold this week for $3,750,000 in cash after being on the market for 22 days. The house has 4 bedrooms, 2.5 bathrooms and totaled 2,040 sq./ft. sitting on a 3,132 sq./ft. corner lot. For a house that needed work and did not have any views it still sold for $1,838 per sq./ft. The average price per sq./ft. for a single family house in the Marina is $1,518. Just last year the house across the street at 196 Avila sold for $3.6 million totally remodeled.
The San Francisco buyers out there have cash and they are not afraid to spend it when buying a home. If things continue at this pace this quarter is going to set new records for home prices in District 7. If you have a home to sell in San Francisco contact me to find out how much your home is worth.