San Francisco Notches Another Fast Mansion Sale

San Francisco’s fast-and-furious buying season continues to heat up in the early days of summer as another Pacific Heights mansion trades hands just weeks after listing.

The six-bedroom Edwardian-style manse at 2880 Vallejo Street closed for $26.5 million roughly a month after listing in May for $25 million, Mansion Global reported. The five-story home went into contract shortly after hitting the market. BarbCo Real Estate’s Steve Sangiocomo held the listing.

The buyer and seller’s identities were not disclosed. The property last traded in 2004 for nearly $3.3 million and was originally two stories. The seller expanded and renovated the 1902-built home in recent years to create a contemporary style inside. The revamped property spans 7,413 square feet and boasts amenities like a cold plunge, fire pit and wine room.

Mansions in Pacific Heights have been selling at a breakneck pace this year as the artificial intelligence boom and its accompanying influx of deep-pocketed buyers continues to worsen the ongoing mansion shortage.

Earlier this month, a nearly 150-year-old Queen Anne Victorian home at 2315 Broadway Street sold in a roughly $25 million all-cash deal, trading less than two weeks after hitting the market. Last month, another Pac Heights home at 2606 Jackson Street sold for $24 million.

A few doors down from the newly sold 2880 Vallejo Street, TelevisaUnivision CEO Daniel Alegre set a new city record in April with the sale of his Beaux Arts mansion at 2898 Vallejo Street in a $56 million off-market transaction.

The trend has grown beyond tony enclaves like Pacific Heights and Russian Hill. Earlier this month, an Alamo Square mansion built for a Colgate heir sold for 10 percent above its asking price just weeks after listing.

The median sales price for a home in San Francisco soared to a new record last month at $2.2 million, outdoing a previous record set in March when prices were up 18 percent year over year, according to Mansion Global. The last time sales prices were that high was in the post-pandemic housing boom of 2022 when the median price reached nearly $2.1 million.

— Chris Malone Méndez