Four never-before-lived-in condominiums remain available for sale, and the first resale listing has now arrived. Purchased in November 2021 for $799,000, 588 Minna Street #302 is a 1-bed/1-bath unit priced to compete with its neighbors at just $599,000. This particular layout is unique and also the largest of its kind at approximately 789 square feet. Its appeal includes a wide open living space, oversized bedroom and southern exposure.
The case for an at-ask offer is strong, but the likelihood of a buyer paying anything more is virtually zero. For the seller, that amounts to an apples-to-apples loss of 25+ percent.
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Buyers, Consider This
LOW INTEREST RATES ARE STILL OUT THERE
› According to longterm averages, benchmark rates in the 6-7 percent range are not high. Lenders’ relationship pricing for existing customers is a good place to start shopping for the best 30-year fixed product. Adjustable-rate mortgages are another option, especially worth investigating if you intend to sell within a few years. Remember: You can always refinance in the future if rates dip or your plans change.
MARKET FUNDAMENTALS ARE STRONG
› Housing in San Francisco continues to be undersupplied. Despite broader market trends — borrowing costs, layoffs, economic uncertainty, etc. — people still want to live here and are still buying property. More sellers than buyers are choosing to “wait and see,” which contributes to the pricing stability we’re seeing now. Our area historically recovers from downturns faster than other areas of the state and country, and that appears right around the corner.
