The SOMA neighborhood in San Francisco saw a substantial reduction in prices and sales in 2023. Over the past year (ending December 29, 2023), 106 condos sold in SOMA at a surprising average price of $744,283, down 29% from an average of $962,848 in the prior year. The highest and lowest sales prices in the past year were $1,400,000 for an 1805 square foot 3-bedroom condo, and $250,000 for a 307 square foot studio. The average time on the market for …
Carol Solfanelli | Compass | DRE License # 01347033 |
415-297-7031 | carol.solfanelli@compass.com
2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
Category: Thoughts & Tidbits
There are some sales that affect you more than others. I recently represented a client who was selling a home at 230 22nd Avenue that had been in the family for over 70 years and meant a lot to her. My client’s dad had grown up here and her grandparents had held onto the home until they passed away. It had not been lived in since 2011 so there was quite a bit of deferred maintenance. The floors had old carpeting …
Virtual staging is becoming a more attractive option for sellers these days. Some are selling properties that they purchased back in 2015 and beyond that are selling for less than what they bought them for back then. My sweet loft at 175 Bluxome, Unit 327, is an example of just this type of property. My seller bought it for $925,000 in 2015 and now it is on the market for $829,000, almost $100,000 less than what she paid for it …
I recently had the pleasure of helping a nice client buy a lovely home in Forest Hill. The home at 512 Dewey Blvd. is a 5 bedroom Edwardian home with 4 of the bedrooms on the top level. The home has beautiful original moldings and feels very elegant. Not only does my client have a luxurious primary suite but she will have a light-filled office on the same floor. It is perfect for her family with much more room than …
Luxury co-ops are a more challenging sell these days since many are second homes for people who live outside of the city or state. The co-op market has slowed a bit with the rise in interest rates and the bad press that SF has been recently getting resulting in some deciding not to buy their second homes here. See my discussion of co-ops in a previous blog. Fortunately, my recent co-op listing with my colleague, Joan Maze Miles, just sold, …
In April of 1990 before Noe Valley became “hot,” my husband and I fell in love with a sweet condo located on 25th Street, just down the hill from 24th Street’s popular shops and restaurants. To those in the north end of the city where we lived, Noe seemed “so far away,” which is laughable today. I was wondering if my friends would ever visit. Then the dotcom boom happened. Noe became very popular because of its accessibility to the tech hub …
This month is co-op month for me with one luxury view co-op on the market now https://2164hyde202.com/ and a second coming on soon. Co-ops, which are often but not always in luxury buildings, are different than condos. A cooperative or co-op is a form of ownership in which an owner owns shares in a corporation which owns the building and signs a proprietary lease which gives them exclusive use of their unit. One of the big differences between a co-op and other …
Eight years ago I met Sarah and Kevin. They had a daughter who was almost 2 and were expecting another. I helped them find their first home near USF, known as the Lone Mountain neighborhood. Flash forward, with 3 children under 10, they had finally outgrown their home and were ready to sell. The market wasn’t very good the last half of 2022 so putting their home on the market in February was a leap of faith. They still loved …
Over the past three to four weeks, I have watched the San Francisco market go from being a slow moving market to one picking up speed. Based on my colleagues’ experiences and mine, I think it is fair to say that San Francisco is in a “mixed market” right now. At recent sales meetings, I have heard a number of colleagues say that they have been in multiple offer situations, particularly for homes but for some condos as well. The …
Last year I received a call to help a brother and sister sell their late mom’s home in Bernal Heights. While it was sad for them to let it go, it was time. It was an absolutely sweet home on a historic street that needed some TLC. I knew it would make some buyer very happy and it ended up receiving multiple offers and being sold to a nice couple – a fireman and a nurse. They eventually brought a …