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 42.70%

The Biggest Askhole

Source: SFAR MLS

Displaying significant deferred maintenance but “a great site for a project,” 30 Borica Street landed on the market with a sure-to-sell $699,000 price. This 2-bedroom and 1-bath house is a major fixer-upper, to be sure, and likely requires a sizable six-figure investment to achieve move-in ready condition. An absence of interior photos speaks for itself — this place needs everything. That said, quickly rising property values suggest it could be worth $3+ million post-renovation. Since the sale closed for a reported $1,220,000 all-cash, no building permits have been filed but we’ll be watching.

Underpriced 31.90%

First Runner Up

Source: SFAR MLS

In the Central Sunset, this single-family home near Golden Gate Park sold for $1,608,000 — more than a half-million dollars over its teaser list price. In addition to 3 bedrooms and 1 full bath, 1321 27th Avenue includes a formal dining room, living room featuring original built-ins, den with half bath, and bonus in-law quarters downstairs. A large flat backyard is accessible from the main level and begs for an inspired glow-up. At just 7 days on market, the offer date produced a buyer who undoubtedly appreciates this property’s location, charm, and potential.

Underpriced 31.01%

Second Runner Up

Source: SFAR MLS

The third time’s a charm for 1201 Holloway Avenue. Having been listed for sale twice in recent years, this fixer-upper with 3 bedrooms and 2 baths (plus an unpermitted bedroom and bath downstairs) finally found a buyer. Like this month’s Biggest Askhole just around the corner, the house appears to need everything. Addressing a funky floor plan, severely outdated finishes, and unkempt grounds is surely just the beginning of a major makeover to come. It nonetheless received at least one all-cash bid on the offer date and settled up at $1,680,000 — well above the $1,159,000 ask.