GLEN PARK REAL ESTATE–October recap

The election is behind us!

The stock market had a hugely positive day followed by a quick hangover, and the employment numbers came in better than expected. El Niño is on its way, and how that plays out remains to be seen. We also don’t yet know how the slow holiday season will go or whether tight inventory will continue into the spring market.

Given the political makeup of our fine city, I think this election result has put a lot of people at ease and has, at least temporarily, eased the uncertainty that surrounded it.

The market is especially hot at the high end. If you follow real estate news, you may have seen articles about my recent listing in Presidio Heights, 20 Cherry St. We had a lot of interest in the property and received multiple offers. It closed in 10 days with an all-cash offer $10 million over the asking price, breaking the overbid record for San Francisco and possibly the country. That’s an extreme example, but the same dynamic is playing out across the city’s high-end market to varying degrees, and we’re seeing it here in Glen Park too.

In the numbers, Glen Park made a big jump in the three months ending in October:

Median sales price, single-family homes: $3,250,444, up 53% from the same period last year (San Francisco: $2,131,000, up 25%)
Median price per square foot: $1,727, up 54% (San Francisco: $1,231, up 20.5%)
Average sale price as a percentage of list price: 131% (San Francisco: 125%)

Now we’re all waiting to see what happens with the tech IPOs!

Now, for the Glen Park Transactions/Listings for the month of October:

Here’s a look at what sold in the month of October–