We Hardly Knew 850 18th

Posted by Dave Fratello on Friday, April 18th, 2008 at 5:48am.

When someone decided to put up a nicely located, stylish, newer Tree Section home at $4.6m, we figured we'd have some time to discuss and debate the listing.

Nope.

850 18th was put on public offer just 2 weeks ago, on April 1, and it's already in escrow. (No joke.)

It's another dramatic case of the persistent demand for higher-end listings in town.

850 18th is just 2 years old, and offers 6br/6ba and 5950 sq. ft. The lot is a comfy 8,000 sq. ft.

And where do you start with the superlatives? Lush. Posh. Gigantic. Highly stylized (in a Spanish vein). You could melt into this home. (Click the smaller pics for larger versions.)

Yum.

You hear it said that the best homes are going to just keep selling regardless of broader conditions. Here's some supporting evidence.

Nearby, 826 18th, a 10-year-old, slightly larger home (6br/5ba, 6175 sq. ft.), sold for $4.45m in April 2007. 1718 Pacific, a 2003 rebuild with a (comparatively) huge 10,000 sq. ft. lot plus a 5br/4ba, 3550-sq.-ft. home, sold for $4.037m last November.

So, the folks coming into the immediate area find $4m+ to be the norm for big homes on big lots in the Trees. And while you know that these are not mainstream homes or buyers, there's no doubt that these sales help to anchor the MB market, skewing everything upwards. If you're selling, that seems like great news. If you're buying, you need to understand how dramatically the market is bifurcating as we speak.
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