No, of course not: not all listings are selling for over list price. Some homes still go through price reductions and some don't sell at all, but it is true that a large percentage of SF listings is now selling for over asking price and sometimes far over. This is especially the case with houses, where 1 in 4 sold in the past 2 months went 10% or more over the list price. (Note: Homes selling for within a quarter percent of the list price were considered to have sold AT asking price.)
The chart below shows the dramatic increase in median home prices in 2012.
Interested in learning more about San Francisco real estate?
Simone Koga | Paragon Real Estate Group
1400 Van Ness Ave. | San Francisco, CA 94109
415.706.1586 | Simone@SimoneKoga.com