Lots of questions with regard to sales activity for three of the New Developments we’ve recently profiled, so let’s do a quick rundown to kickoff the weekend (and help you plan your open house stops this Sunday):
1. 1725 Washington: Three (#3, #9, #14) of the fourteen units we profiled a month ago have sold, eight units remain active in the MLS, and three units (#4,#7,#12) have yet to be added to the MLS. (And yes, #2 and #6 remain “Sold” BMR units.)
2. 1625 California: Of the seven “2ND Release now available! Going fast!” units we featured two weeks ago, one (#55) has gone pending, while the other six remain available (a couple after 3+ months).
3. 1551 Filbert: After 45 days, one (#1) of the three “truly special & will not last” TICs has garnered an offer (#2 and #4 remain Active).
And no, we’re not implying that the market has “popped”, “crashed”, or “tanked”. Just that it has changed. And that “if you build it they will buy it (regardless of the design, price, or marketing)” thinking might just be a thing of the recent past (along with “guaranteed” double-digit appreciation).
∙ Update: 1725 Washington Street [SocketSite]
∙ 1635 California Street [SocketSite]
∙ For Sale By Owner Listed! [SocketSite]
∙ San Francisco Sales/Prices Trend Down [SocketSite]
Noticed something interesting on craigslist yesterday. One of the units at 1635 california is offered for rent at $3000. Wonder if this is an “investor.”
http://www.craigslist.org/sfc/apa/140145235.html