Purchased for $950,000 in February of , the 1,700-square-foot, four-bedroom Bayview Heights home at 1119 Hollister Avenue was subsequently taken “down to the studs” and subfloors.
A structural wall was removed to open up the floor plan, a third bathroom was added, the electrical was upgraded (along with the furnace) and the all-new kitchen now sports a La Cornue range.
And having returned to the market [in February of 2019] with a $1.399 million price tag, the sale of the fully remodeled home…closed escrow [in August of 2019] with a contract price of $1.15 million, a price which will help push the average sale up, and is “21.1 percent more expensive,” just not on an apples-to-apples (or likely profitable) basis.
As noted by a plugged-in reader, the four-bedroom home at 1119 Hollister has now returned to the market, a year later, listed for “$895,000,” which is roughly $500 per square foot and 25 percent below the average sale price per square foot for the neighborhood over the past six months.
And yes, the aforementioned La Cornue range, which retails for $8,475, has been replaced by a roughly half as expensive, but still higher-end, Bertazzoni.
If you think you know the market for single-family homes and the Bayview, now’s the time to tell.