The top 5 most expensive SF homes sold in 2023 had one thing in common


3450 Washington St. was the most expensive San Francisco home sale of 2023.

Screenshot by Google

2023 was not an easy year for San Francisco’s elite real estate market. The most expensive homes sold this year didn’t endure bidding wars — none of the homes received over-asking bids at all.

The banking crisis and the stock market’s decline in the spring all likely had some effect, but local real estate experts also suspect the media-fueled “doom loop” image that plagued San Francisco this year also affected top-tier real estate. “The luxury sector definitely felt a chill from the barrage of doom loop reporting,” Compass agent Maximillian Armour told SFGATE. “Luckily, the negative news coverage of this city — which I can say as a native San Franciscan was totally overblown — is getting better as the year ends.”

Sales dipped in the first quarter, enjoyed renewed interest in the spring and experienced a big jump in midfall. Here are the top five sales of the year reported to the San Francisco MLS, all of which sold for between 62.5% and 79% of asking. (Note: There may have been other off-MLS sales that topped the numbers we see here; this article focuses on MLS-recorded data.)

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5. 2121 Webster St., PH 1-7: $17.5 million

The sale of this Pacific Heights property was noteworthy in that the buyer purchased what is effectively two units, #1 and #7. The combined penthouse is massive: five bedrooms, five and a half bathrooms, spanning 5,310 square feet, with walls of glass overlooking the city. This unit, atop The Pacific, a luxury condo tower in Japantown, includes shared amenities such as a guest suite, landscaped gardens, a library with a fireplace and a rooftop terrace. Despite its glamor, the oversized penthouse struggled to find a buyer, hitting the market in January of 2022 at $24.5 million and finally selling in September 2023 for $17.5 million. 

4. 3410 Jackson St.: $18.5 million

Just a block away from the Presidio, 3410 Jackson Street debuted with an asking price of $23.5 million in February 2023. The 7,140 square-foot home offers five bedrooms and five and a half bathrooms as well as a gym, guest suite and south-facing roof deck. An elevator connects all four floors of this 1923 house, which overlooks bridge and bay views. But by April 2023, with no buyer, the listing was reduced to $20 million. In May, it sold for $18.5 million.

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3. 9 25th Ave.: $20 million

This Sea Cliff mansion, which was both home and work studio for award-winning interior designer Michael Taylor, was a showcase of Taylor’s very own “California Look.” The 7,540 square-foot space features five bedrooms, six and a half bathrooms, a library, a tasting room and a gym. Its neutral palette, gleaming wood floors and walls of glass framed a dramatic, unobstructed view of the sea. Also on the property: one of the city’s few private pools. Despite the obvious opulence and celebrity-designed interiors, this property — which listed for $32 million in September 2022 — had to wait until April of 2023 to change hands, when it finally sold for $20 million.

2. 2750 Vallejo St.: $23.5 million

Though it sold off market, the sale of 2750 Vallejo was reported to the San Francisco MLS in August 2023. The home, which was built in 1905, is 7,790 square feet in a location that’s just minutes from the Presidio. Inside, there are six bedrooms and seven bathrooms. It was listed in May 2023 for $29.8 million and then pulled from the market in June. In August, it was reported sold for $23.5 million.

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1. 3450 Washington St.: $34.5 million

This historic 9,865-square-foot mansion made news in October of 2022 when it debuted for a potentially record-breaking price of $45 million. Built by Albert Farr, the six-bedroom, seven full-bath and three half-bath abode showcases the famous architect’s original 1930s French Normandy inspiration. Luxury additions to the almost 100-year-old Presidio Heights mansion include two opulent kitchens, a cigar room and a 3,000-bottle temperature-controlled wine cellar. Despite its luxury and iconic location, 3450 Washington lingered on the market and a few months later made news again with a $5.5 million price cut. Even at $39.5 million, it was still poised to be one of the most expensive home sales for that year. However, 2022 passed without a buyer. Finally, the home sold in March 2023 for $34.5 million — the highest price this year for a residential sale in San Francisco but a dramatic discount from its initial $45 million asking price. 



This article was originally published by a www.sfgate.com . Read the Original article here. .