Real Estate Prices Soaring; San Francisco Area Home Sells For $1.4 Million Over Asking Price – CBS Miami

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BERKELEY (CBS SF) — Even in the San Francisco Bay Area’s rebounding real estate market, the recent sale of a four-bedroom Berkeley home was raising eyebrows.

The house, located on a desirable corner lot in the Claremont neighborhood, was initially priced at $2.75 million but sold for $4.25 million — a whopping $1.4 million over its listing.

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It is a sign of the times, according to real estate agents across the Bay Area. Since the market awoke from its COVID slumber, prices of homes have soared and bidding wars have escalated from Marin County to the Silicon Valley.

“In the East Bay, there’s simply more demand than houses available, so I’m not surprised that we got so many offers,” said Compass Realty listing agent Julie Nachtwehy, who listed the Berkeley home.

“The home has lots of character, and the stunning interior remodeling was over the top,” she added….

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