Bay Area Homes Now Selling for Millions Over Listing

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San Francisco Business Times reports that at least ten homes last year sold for at least a million over asking in San Francisco (with another 19 meeting this mark between Santa Clara and San Mateo counties).

The Business Times attributes this to the confluence of low inventory and the recent influx of “funny money” (i.e., the wealth of overnight multimillionaires), leading many agents to adopt “a strategy of egregious underpricing”.

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