The San Francisco real estate market is on fire right now, as rent and home prices have risen so astronomically as to become unaffordable for many.
Buying a home in San Francisco is incredibly competitive, too. According to data from national real estate brokerage Redfin, a whopping 69.1% of homes in San Francisco sold above their asking price in May of 2014. The average San Francisco home spent less than two weeks on the market.
For comparison, only 24.5% of homes nationally sell for more than their asking price, and they take over a month to sell.
Plus, according to Redfin, the median home sale price for San Francisco this past May was $910,000. Nationally, the median sale price was $298,033.
Whether or not you believe the influx of tech workers is leading to gentrification in San Francisco, the numbers show that real estate there is getting harder and harder to get.
We've rounded up some of the craziest home sales to go down in the last six months.
This Presidio Heights home sold for 20.5% above its asking price after just 8 days on the market. According to the listing, the home's six bedrooms include a suite that's perfect for an au pair.
List Price: $4.25 million
Sale Price: $5.125 million
Sale-to-list difference: $875,000
Days on market: 8
This 2,956-square-foot home in the Marina also sold after only 8 days on the market. Its final price was $3.7 million, $905,000 above its listing price.
List Price: $2.795 million
Sale Price: $3.7 million
Sale-to-list difference: $905,000
Days on market: 8
At the beginning of May, this 2-unit building in Pacific Heights sold for 38% above its asking price.
List Price: $2.495 million
Sale Price: $3.45 million
Sale-to-list difference: $955,000
Days on market: 11
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