A house in San Francisco sold for $2.1 million over asking price, proving that the real estate frenzy isn't over yet

Avery HartmansSep 13, 2021, 23:03 IST

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A home in San Francisco's Cole Valley neighborhood recently sold for $2.1 million over asking price.
The 3-bedroom, 2-bathroom home, plus an adjacent lot, was listed for $3.5 million and ultimately sold for $5.6 million, according to Compass, who held the listing.
Described as a "treehouse in the sky," the home sits on a hilltop overlooking the city and features wood-beam ceilings and abundant outdoor space.

The home is located at 177 Belgrave Avenue, in the center of San Francisco.

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The home was built in the 1970s, and this was the first time it had ever hit the market - meaning it had only one prior owner.

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It stayed on the market for just 11 days and received 15 offers, all of which were above asking price, according to Compass.

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One of the home's main selling points is sweeping views of San Francisco ...

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... including Salesforce Tower and the Golden Gate Bridge, which can be seen from the living room.

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The chef's kitchen has exposed wood beams and a dining nook.

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And there's a formal dining area that leads to the backyard.

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The home includes three bedrooms and two bathrooms, one of which is part of a sizable master suite.

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There's also a laundry room ...

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... and space for a home office, with large windows overlooking the wooded property.

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The property features outdoor space in the form of a large back patio.

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And there's a front deck to take in the city views.

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The home is hidden from the street, but does have a two-car garage at street-level, plus an adjacent lot at the back of the property, which comes with renderings for a potential 10,000-square-foot home.

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The home is hidden from the street, but does have a two-car garage at street-level, plus an adjacent lot at the back of the property, which comes with renderings for a potential 10,000-square-foot home.

Despite some signs that the US real estate market is cooling down - like more small homes hitting the market, price increases slowing, and bidding wars dropping off - this home sale proves how competitive the market still is, 18 months after the onset of the pandemic.

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Source: Insider

Despite some signs that the US real estate market is cooling down - like more small homes hitting the market, price increases slowing, and bidding wars dropping off - this home sale proves how competitive the market still is, 18 months after the onset of the pandemic.

Source: Insider

Photos show 3-bedroom, detached homes in 5 different US cities - see if you can guess their prices

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A house in San Francisco sold for $2.1 million over asking price, proving that the real estate frenzy isn't over yet

The home is located at 177 Belgrave Avenue, in the center of San Francisco.

The home was built in the 1970s, and this was the first time it had ever hit the market - meaning it had only one prior owner.

It stayed on the market for just 11 days and received 15 offers, all of which were above asking price, according to Compass.

One of the home's main selling points is sweeping views of San Francisco ...

... including Salesforce Tower and the Golden Gate Bridge, which can be seen from the living room.

The chef's kitchen has exposed wood beams and a dining nook.

And there's a formal dining area that leads to the backyard.

The home includes three bedrooms and two bathrooms, one of which is part of a sizable master suite.

There's also a laundry room ...

... and space for a home office, with large windows overlooking the wooded property.

The property features outdoor space in the form of a large back patio.

And there's a front deck to take in the city views.

The home is hidden from the street, but does have a two-car garage at street-level, plus an adjacent lot at the back of the property, which comes with renderings for a potential 10,000-square-foot home.

Despite some signs that the US real estate market is cooling down - like more small homes hitting the market, price increases slowing, and bidding wars dropping off - this home sale proves how competitive the market still is, 18 months after the onset of the pandemic.