Which Neighborhoods Are Selling the Furthest Over Asking Right Now
Pricing Strategy:
Pacific Heights' modest 106.5% is less about weak demand and more about how luxury listings get priced. At a median near $3M, agents tend to price close to true market value; there are fewer buyers at that price point, more scrutiny per transaction, and less incentive to manufacture a bidding war. Compare that to Bernal Heights, where lower price points and a deeper buyer pool make strategic underpricing an effective way to drive multiple offers, pushing the % over list well past 130%. In short: the over-list number reflects pricing strategy as much as it reflects demand, and that gap tends to widen as home prices rise.
Closing thoughts:
The gap between SFH and condo competition tells the real story here. Nearly every single-family listing in San Francisco is now closing well above asking, with Sunset, Bernal Heights, and Corona Heights leading the charge past 125-140% of list. Condos are heating up too, but unevenly; Inner Richmond and Alamo Square are seeing SFH-level bidding wars, while Outer Richmond condos are one of the only segments still closing under asking. For sellers, pricing strategy should reflect which market you're in, not the citywide average. And for buyers, the data is a clear signal: come in with your strongest offer in SFH-heavy neighborhoods, but there's still room to negotiate on condos in select pockets of the city.
