% of List Price Received by District
Some homes in SF go for more than list price. This is a bit of an illusion.
For instance, in my neighborhood, homes go for about 25% over the list price. Due to this, as real estate professionals, we have to figure the market value of homes in our neighborhood and then price them at a discount. If we priced a $2.5m home at $2.5m in my neighborhood, all the agents would assume that the seller expected to receive about $3m. Due to this, no one would come to see it and it would remain unsold.
This is, of course, not a solid and fast rule, and it varies even for neighborhoods within a District. It is good, however, to keep this percentage in mind when looking at homes in your favorite district. You Realtor will ultimately help you get to a strategic offer price.
To see the DISTRICT MAP, click here.