San Francisco mansion sells for US$29.5 million
Cassidy KnowltonDecember 8, 2020
A 1922 San Francisco mansion has sold for US$29.5 million, after being initially listed with price hopes of US$39 million. The price hopes for the six-bedroom, five-bathroom home were recently revised down to US$33.9 million.
Patrick Barber, head of the San Francisco office of listing agents Pacific Union International, says the reduction in price was necessary to secure the sale in the difficult US market.
"Homes now are priced realistically, and they're selling," Barber told the San Francisco Chronicle.
The luxury end of the market in San Francisco and nearby Silicon Valley has held up better than most other market segments, with investors and employees from local technology companies keeping the market buoyant.