These are San Francisco’s most costly dwelling gross sales of 2021
What do San Francisco’s most expensive home sales of 2021 have in common? It’s not a look – they’re all very different in terms of aesthetics and style. It’s not the age – some are mid-century while others are well over 100 years old. So what is it? In a word: popularity. This year has been all about the speed of luxury real estate sales in San Francisco, with properties valued at over $10 million in hot demand, most selling quickly and some in just a few weeks.
The median home selling price for all property types for this year-end quarter is $1.528 million (this includes co-tenancy, condominiums, cooperatives, lots, multi-family and single-family homes), up 7.6% year-on-year compared to December 2020. At the elite end of the spectrum, luxury real estate has continued to enjoy extreme (and expensive) popularity this year, with several San Francisco homes closing at prices well over $19 million.
According to Compass’ December 2021 Bay Area Market Reports, since 2020 was such a strange anomaly, we’d be better off looking back at 2019 to understand the dramatic nature of this trend. The pandemic has been an unforeseen and unprecedented factor in the city’s housing prices, as well as homebuyer behavior. The data strikingly shows that the rise in luxury home demand and price points from before the pandemic to today is likely to continue if the pandemic itself continues to ramp up.
Luxury real estate surged in popularity during the 2020 pandemic, a trend that has continued this year. Compass data.
Alexander Clark, Founder of TheFrontSteps Real Estate, confirmed that 2020’s focus on private havens will continue this year. San Francisco homebuyers are investing in larger, more spacious homes and are paying premium prices for the right location, additional outdoor space, and additional rooms in their homes that can be used for work, sports, hobbies, extended family, and guests. “More people care more about their primary residence than ever before,” Clark said.
Asked who pays these luxury prices, Clark said: “It seems that the buying profile in SF is very similar. Finance, technology, real estate, generational wealth, and those ever-present buyers with an unwavering desire to be in San Francisco.”
The top 6 home sales this year include properties valued at $17.45 million to $43.5 million. Here’s what their multi-million dollar prizes bought their new owners:
#1 Most Expensive Auction of 2021: 2920 Broadway, $43.5 million.
This home at 2920 Broadway broke records when it sold out for $43.5 million. The 11,000-square-foot residence, built in the early 1930s, features a 5,000-bottle wine cellar. The 2021 sale of this Pacific Heights mansion broke its own previous record of $39 million when it sold in 2018.
No. 2: 3414 Washington St., $24.95 million
Jacob Elliott, SFMLS, SFARMLS
The second-biggest sale in San Francisco that year was 3414 Washington St., a stately mansion that closed for $24.95 million after just 20 days on the market. The home is an 8,930 square foot, six bed, seven bath converted stud house mansion in Presidio Heights. “Remember, the last time this address sold was in 2003 for just $3.7 million — about $5.56 million after inflation,” wrote TheFrontSteps’ Adam Brinklow.
No. 3: 490 Avila St., $19.75 million
The third most expensive sale was 490 Avila St., which closed for $19.75 million. Located across from Marina Green, this home is a strong contender for the best location in town for people who want quick access to a lovely outdoor space. The home has seven beds and 10 baths, with 7,809 square feet.
#4: 2590 Green St., $19.5 million
Just $25,000 less is 2590 Green St., which ranked fourth this year with a retail price of $19.5 million. There are five bedrooms and eight bathrooms in this 8,630 square foot mansion. After previous offers failed to sell, the Pacific Heights mansion sold in just three weeks this year.
No. 5: 150 Glenbrook Ave., $17.5 million
In fifth place is 150 Glenbrook Ave. a more modern luxury option on Mount Sutro. This home, which sold for $17.5 million this year, is said to be San Francisco’s tallest residence above sea level. The 7,440-square-foot, six-bed, eight-bath condo, circa 1981, was last sold in 2012 for $2.63 million.
No. 6: 2820 Scott St., $17.45 million
In sixth place at just $5,000 less than the home in fifth place is 2820 Scott St., an Italian beauty built in Cow Hollow in 1904. Behind its buttery-yellow facade are seven beds and nine-and-a-half baths with a sprawling 16,000 square feet of living space.
Anna Marie Erwert writes from both the tenant and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends and specializes in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.