If the head-turning world of San Francisco real estate has any constant no matter the times, it's OUTRAGEOUS overbids. Indeed, local agents have a unique and longstanding custom of pricing listings strategically with the goal of generating multiple offers. It's an effective means of arriving at true market value when done responsibly. Taken to the extreme, however, it's a wildly inefficient system to produce one successful bidder.

What's a hopeful buyer to do? Pay attention to sales prices, trust the experts, and tune in to our monthly recap right here. Say it with me: If it seems too good to be true, it probably is.

Underpriced 36.08%

The Biggest Askhole

Source: SFAR MLS

The $799,000 teaser list price for 953 Dwight Street is closer to what freeway-adjacent tear-downs in the neighborhood fetch than any single-family home remotely comparable to this. Measuring ±2,370 square feet across three floors, the house features 5 bedrooms, 3 full baths, an independently-accessible lower level, and thoroughly updated interior. There are views of the skyline, Bay Bridge and East Bay, and — perhaps most appealing of all — a pedestrian path into 312-acre John McLaren Park is only ±100 feet away. Having received a non-contingent offer, it sold in just over a week for $1,250,000. That’s just below the Median Sales Price in Portola, which is up 16.7 percent year-over-year.

Underpriced 32.52%

First Runner Up

Source: SFAR MLS

Had this 1-bedroom condominium in Oceanview Village sold for its list price, it would have been the community’s lowest-price sale in nearly a decade. An almost identical unit sold for $570,000 this past March, which makes the $575,000 paid for 8400 Oceanview Terrace #315 totally unsurprising. Private outdoor space, deeded parking, in-unit washer and dryer, and a refreshed kitchen and bath make for a sweet starter home in a commuter friendly location near Daly City. There’s also plenty of amenities nearby: Stonestown Galleria, Trader Joe’s and Whole Foods, Regal Cinemas, and Lake Merced for playtime with the pooch or a round of golf. This listing lasted only 6 days on the market.

Underpriced 29.84%

Second Runner Up

Source: SFAR MLS

Last sold way back in 1977, 366 Staples Avenue in San Francisco’s Sunnyside neighborhood just purchased for $1,565,000 — almost a half-million dollars above its list price. Compared to a year ago, one-third fewer houses have sold in the area year-to-date and the Median Sales Price is up 3 percent. This 3-bedroom and 2-bath single-family home retains some vintage charms alongside contemporary improvements. A “Tahoe-inspired” den at the lower level and deep lot with mature landscaping make it a standout among the current dearth of inventory. The winning non-contingent offer was received on a scheduled offer date at 13 days on market. If you like what you see and have a similar budget, then be sure to take note of these two current listings.