The least expensive single-family homes sold in SF in 2017
You needed at least a half a million dollars to buy a single-family home in San Francisco in 2017—assuming you were buying market-rate housing. And even those sales were few and far between, given that the median price for a single-family home in San Francisco this year was about twice that amount.
The least-expensive single-family sales took place almost entirely in the southeastern quadrant of the city, including 1182 Palou Ave. which has the dubious distinction of being the least-expensive arm’s-length transaction in 2017. (There were other single-family sales lower, but not on the open market.) The turn-of-the-century Bayview Victorian has two bedrooms, 1.5 baths and two fireplaces in 786 square feet. It was a foreclosure that sold in January after a late December bank auction for just over $491,000. The lucky winner had to bid on the house “as is” and did not even get to see the interior in person before the auction was held, according to Curbed.
There were just a handful of other sales between $500,000 and $550,000 in 2017. When 60 Ney Street in Excelsior came to market over the summer it was listed at $699,000. It found a buyer but the sale fell through and when it returned to market in the fall it ended up selling for $525,000. The 1908 1,000-square-foot two-bedroom had “repair work needed,” according to the listing notes, but also a “good sized backyard” with “great potential.”
Also selling in 2017 for around that price was 7 Robinson Drive, a three-bedroom, one-bath fixer in Crocker-Amazon that sold for $530,000 in November. Another three-bedroom, this one at 1251 Revere Avenue in the Bayview sold for $535,000 in May.
Getting closer to the $550,000 price point, 28 Redondo Street in the Bayview sold for $548,000 in May. The 1918 home didn’t even bother to list with pictures of the home itself, instead concentrating on the “big lot” and “panoramic view to the Bay Bridge and city!!”
Over the summer, 1055 Gilman Avenue, also in the Bayview, sold for $548,000—$1,000 under its asking price. The 1908 cottage has only 950 square feet and no garage, but it does have a side yard big enough to park three cars, according to the listing notes, which also invited buyers to buy into the rapid appreciation and warm weather in the neighborhood. “Bayview has seen a higher appreciation rate than any other neighborhood in the city since 2011,” it reads. “Come get your piece of the pie, and plant roots in the sunniest neighborhood in San Francisco.”
Given how often the words “potential” and “opportunity” came up in these lower-end listings, we wouldn’t be surprised to see many of them get a makeover and return to the market in 2018—asking considerably more than what they sold for this year, of course.