Having sold for $2.1 million in September of 2018, the 1,900-square-foot, full-floor condo at 1940 Bush Street, which “dazzles with great period details and contemporary finishes,” a few blocks from Fillmore Street, Japan Town and Lafayette Park, in “San Francisco’s coveted Lower Pacific Heights neighborhood,” returned to the market priced at $2.199 million in July of 2020, touting a “flexible floor plan” that was “ideal for people who work from home.”
Reduced to $1.999 million in August of 2020, to $1.899 million a week later, to $1.799 million that October, and then to $1.699 million in January of 2021, the “Gorgeous Victorian Condo” with a parking space, outdoor space, and extra storage in the garage ended up selling with an “over asking!” contract price of $1.700 million in February of 2021, down 19.0 percent on an apples-to-apples basis from the third quarter of 2018.
Returned to the market priced at $1.698 million two months ago, the four-bedroom, two-bath home has now quietly closed escrow with a contract price of $1.598 million, down an additional 6.0 percent on an apples-to-apples basis since the first quarter of 2021, for a 23.9 percent drop from the third quarter of 2018, but officially “at asking!” according to all industry stats and aggregate reports as the listing, which was technically “delisted” upon its sale, having been reduced to $1.598 million earlier this month.
How would AI have handled this ?? Let’s see…
America’s Favorite City Defies ‘Doom Loop’
The weather in San Francisco may be cool and foggy every day, but the real estate there is hot, hot, hot.
How hot ?? 2100 months in a row of listings closing for at or above asking (a record!). The latest trendkeeper is a gorgeous Victorian, within walking distance of the Golden Gate Bridge, and within earshot of the City’s famous cable car line. We don’t know it it was the authentic stucco finish, or the mix of rare period details and state-of-the-art modern finishes, but there were reasons aplenty for the rapid sale.
…or something like that. 🙂