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