San Francisco – Overbidding Asking Price Percentage of Sales Over List Price, Annual Readings, since 2005*
82%
81%
House Sales
Condo Sales
80%
79% 79%
79%
80%
77%
77%
76%
75%
74%
70%
69%
70%
66%
66%
63%
61%
60% 59%
59%
Pandemic market
58% 59%
60%
57%
50%
48%
48%
50%
45%
44%
42%
42% 42%
41%
39%
Market recovery and high-tech/IPO boom
40%
Subprime bubble
33%
28%
30%
23% 23%
Generally speaking, the stronger the demand as compared to the supply of homes for sale, the more buyers compete to win the sale by overbidding asking price. Especially since the pandemic, SF overbidding percentages for houses have been much higher than those for condos.
19%
20%
Foreclosure crisis & great recession
10%
0%
*Sales over final list price: All attached and detached residential home sales reported to NorCal MLS Alliance per Infosparks calculations. Data from sources deemed reliable but may contain errors and subject to revision. All numbers approximate, and may change due to late- reported sales. Not all sales are reported to MLS.
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