In The News

A house in San Francisco sold for $2.1 million over asking price, proving that the real estate frenzy isn’t over yet

Avery Hartmans | Business Insider

  • A home in San Francisco’s Cole Valley neighborhood recently sold for $2.1 million over the asking price.
  • The 3-bedroom, 2-bathroom home, plus an adjacent lot, was listed for $3.5 million and ultimately sold for $5.6 million, according to Compass, who held the listing.
  • Described as a “treehouse in the sky,” the home sits on a hilltop overlooking the city and features wood-beam ceilings and abundant outdoor space.

The home is located at 177 Belgrave Avenue, in the center of San Francisco.

View of the wooden entryway to 177 Belgrave Avenue
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The home was built in the 1970s, and this was the first time it had ever hit the market – meaning it had only one prior owner.

Interior view of 177 Belgrave Ave featuring wooden walls and stairway
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It stayed on the market for just 11 days and received 15 offers, all of which were above the asking price, according to Compass.

Living room with exposed wood ceilings
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One of the home’s main selling points is the sweeping views of San Francisco …

Views of San Francisco seen through a window in 177 Belgrave Ave
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… including Salesforce Tower and the Golden Gate Bridge, which can be seen from the living room.

Views of the city from 177 Belgrave Ave
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The chef’s kitchen has exposed wood beams and a dining nook.

Kitchen with wood ceiling, cabinetry and tiled floors
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And there’s a formal dining area that leads to the backyard.

The dining room of 177 Belgrave Ave featuring unique glass windows , wood ceilings and walls
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The home includes three bedrooms and two bathrooms, one of which is part of a sizable master suite.

Bedroom with white walls ad contrasting woodwork
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There’s also a laundry room …

Laundry room with wood shelves
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… and space for a home office, with large windows overlooking the wooded property.

An office featuring uniquely shaped windows and wooded views
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The property features outdoor space in the form of a large back patio.

View of the patio at 177 Belgrave Ave
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And there’s a front deck to take in the city views.

Wooden deck featuring views of the city
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The home is hidden from the street but does have a two-car garage at street level, plus an adjacent lot at the back of the property, which comes with renderings for a potential 10,000-square-foot home.

Garage view of 177 Belgrave Avenue
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Despite some signs that the US real estate market is cooling down – like more small homes hitting the market, price increases slowing, and bidding wars dropping off – this home sale proves how competitive the market still is, 18 months after the onset of the pandemic.

Patio with table
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