High-end San Francisco housing is rocketing up…or is it? by Elaine Golden Gealer

Teeth everywhere have been gnashed over the ballooning tech-money-fueled price of real estate in the San Francisco Bay Area. But the high-end real estate market is actually showing mixed signals.

Pacific Heights neighborhood.

A 2-bedroom, 2.5-bath house in the tony Pacific Heights neighborhood went for $3.4 million last week. This isn’t exceptional by itself, except for this fact that it’s a whopping 70 percent above the original asking price, according to SFcurbed.

More grist for the “bubble” mill, right?

Maybe not. As it turns out, some trophy properties in a nearby SF neighborhood can’t fetch the prices their owners wanted.

A six-bedroom, six-and-a-half bath mansion owned by the founder of Sharper Image wound up selling for a third less than the owner first asked, according to the SF Gate. (The house also has an elevator and a six-car garage.)

Maybe real estate can’t (yet) give us a definitive answer on whether there’s a tech bubble.

Elaine
DRE #00598428
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”

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