In case you needed further proof that it’s a seller’s market, the Rockridge home that attracted a lot of attention last month for being listed at less than $500,000 sold for a whopping $755,000 last week. That’s more than a quarter of a million dollars over asking!
“At least 200 people came through. There was a little boy down the street who opened up a lemonade stand and was selling lemonade, popcorn and cookies to all the people coming to the open house,” listing agent Dalia Juskys of Red Oak Realty told SFGate.
Despite the fact that the home, located at 383 60th Street, had no heating and no working kitchen, as well as peeling paint, rotting wood, unfinished ceilings and torn-up linoleum, that clearly didn’t deter buyers who viewed it as a deal in a highly sought-after neighborhood. It ultimately received 19 offers.
Inventory in lower Rockridge remains tight. According to Red Oak statistics, only 12 single family homes were sold in the first quarter of 2017, representing an 8 percent decline compared to the same time last year. Meanwhile, the median sales price in the area went up 7 percent, to $1,417,500. Homes in lower Rockridge are also selling for an average of 18 percent over asking price.
Of course, these are just averages. In the case of the home on 60th Street, it sold for 52 percent over asking. Yowza.