REAL ESTATE | PATRICK BARBER
While the highest end of the housing market has been slowing in San Francisco over the past few months, buyers will still pay big prices for properties in prime condition in locations that also offer top-shelf views.
Such was the case with 2755 Fillmore Street, which sold for its asking price of $13.25 million in late July. Many industry insiders were surprised at the high price, given that the home traded less than three years ago for around $10 million. To put the most recent sale in perspective, it netted nearly $2,600 per square foot — a big number even in Pacific Heights, where single-family homes sold for an average of about $1,700 per square foot during the last year.
The four-bedroom, 5,142-square-foot home, extensively renovated in 2013, has a contemporary design and showed well during open houses. But perhaps its biggest selling point is its view of the bay, Alcatraz Island, the Palace of Fine Arts and the Golden Gate Bridge. Even in a market gradually normalizing after a frenetic few years, a sale like this demonstrates that the luxury segment remains resilient.
Patrick Barber is president of Pacific Union.
Filed under: Real Estate