High-End Housing “Booming”

As a few readers already know, SFluxe editor Damion Matthews recently left Prudential to join Sotheby’s International Realty in San Francisco, where he’ll be able to provide his clients with the highest level of real estate options and services.
Sotheby’s is especially known for its multi-million dollar listings, a market which in San Francisco is still doing very well — in fact, it’s “booming” according to a report that was just aired by CBS.
CBS News’ Hank Plante went with Joel Goodrich (of TRI Coldwell Banker) and his client Sophie Azouaou on a showing of one of Joel’s beautiful Pacific Heights listings (located on Lyon Street) to get a sense of what’s going on out there. Here is a transcription of the show, in case you missed it or can’t see the clip online.
“San Francisco realtor Joel Goodrich is showing his client a 5,000 square foot Pacific Heights stunner of a home listed at $8.55 million. The client, an interior decorator and philanthropist, has been looking for three months.”

Sophie: “At the beginning I really wanted a penthouse, to have the beautiful view and yet have the living room and dining room. But now I am changing towards a house.”
And she’s right, because Realtors in the Bay Area’s most affluent communities are reporting a record year for private home sales at the top of the market.

Joel: “Interestingly enough, this year we’ve seen more off-market sales than we’ve ever seen.”
Joel:
Hank:

2740 Green Street
This house on Green Street sold for about its asking price of $11 million.

2820 Pacific
This house on Pacific reportedly sold for $16 million.

3800 Washington
Here’s a mansion on Washington Street that sold along with its carriage house next door for what realtors say was $20 million.

2515 Scott Street
And finally, this property on Scott Street sold within 10 percent of its asking price, which was $19.75 million.

Hank: “Now all of this is fine at the high-end, but what about the rest of the market? Does a rising tide lift all boats?”
Ken Rosen runs UC Fisher Center for Real Estate.

Hank: “But the core – San Francisco, Berkeley, Marin…”
- Further Information: Joel Goodrich [joelgoodrich.com]
- Further Information: Sophie Azouaou [sophisticateinteriors.com]
- Further Information: The Fisher Center [berkeley.edu]
- Further Information: Sotheby’s International Realty [sothebyshomes.com]
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