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Hot (Bidding) in the City

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Proof that SF is still, and perhaps always will be a seller's market? If we needed it, we could find it in these two recent sales, which hint at bidding wars no doubt spurred by the continued dearth of single-home inventory (down over 19% this month from November and over 43% from December of 2011). 734 Wisconsin Street is a 1,250 square foot 2-bed, 1-bath single-family home in Potrero. It listed for $859K in October of this year, which though steep enough by most folks' standards, may have been one of those clever Realtor® under-pricing strategies. Said strategy paid off, as the home went pending in November and closed in December at $1,025,000. Over in Glen Park, a similar saga unfolded when 2510 Diamond Street, a 962 square foot, 3 bed, 1.5 bath home listed for $799K in early November. It sold this month at $1,010,000 (that's $1,050 per square foot for your calculators). So much for seasonal slowdown! Looks like Christmas all year for home sellers in San Francisco.
· 734 Wisconsin Street [Redfin]
· 2510 Diamond [Redfin]