Summary
A house in San Francisco sold for more than $700,000 over its asking price of $1.29 million, highlighting high demand in the local housing market. This reflects a wider trend of increasing home prices in desirable locations in California due to low inventory.
Key Facts
- The house in San Francisco was listed for $1.29 million and sold for $2.03 million.
- The home is located at 1459 34th Ave., features 3 bedrooms and 2 baths, and was built in 1938.
- The high sale price is part of a larger trend in California's housing market with limited home inventory.
- The U.S. average home price is around $400,000, significantly lower than this sale.
- Experts say desirable locations lead to bidding wars with buyers often paying much more than the asking price.
- Factors such as the AI boom and lower interest rates contribute to the high demand for homes in the area.
- Some buyers waive inspections and appraisals to quickly close deals, which can lead to higher risks.
