We ran the numbers, and the results are in! Open Homes agents had a record-breaking year. On average, Open Homes agents sold their properties more quickly and for more money. What’s more, some of the homes that agents sold set records of their very own.
We analyzed three subsets of data using information from the MLS: days on market, percent sold over listing price, and price per square foot. Across the board, the results show that agents did very well, but Open Homes agents did even better.
2021 Stats: It paid to be an Open Homes agent
Open Homes agents sold their homes for nearly 13% more over asking price, on average, compared to other agents.
The average percentage sold over asking price for Open Homes agents was 14.75%.
The average percentage sold over asking price for other agents was 2%.
Open Homes agents sold their homes 52.6% faster, on average, than other agents.
The average number of days on market for Open Homes agents was 19.25 days.
The average number of days on market for other agents was 33 days.
Open Homes agents sold their homes for 23.1% more per square foot, on average, compared to other agents.
The average price-per-square-foot for Open Homes agents was $1,096.
The average price-per-square-foot for other agents was $869.25.
The results show that on average, homes that featured OHP marketing materials performed better across the board. Agents who used OHP sold their homes for more money, with fewer days on market, and a higher price-per-square-foot. In other words, in 2021, it paid to be an agent who used OHP!
3 record-breaking properties you need to see
It’s not surprising that given last year’s robust market, agents who used OHP listed a few houses that set records of their own. Read on for a few homes that sold for more money and quicker than ever before.
2500 Steiner is already a well-known San Francisco architectural icon. The Pacific Heights building is comprised of just 12 units (with each unit taking up a full story) and is well-known for its luxury co-op appeal.
This year, the building became famous again for the massive sales price of one of its units. Unit #6 sold this November for a record-breaking $15.5 million, or $4,428 per square foot for the 3,500-square-foot unit. According to the MLS, that price per square foot is SF’s highest ever for a co-op. The previous record-holder was 1 Steuart Lane, which sold for $4,012 per square foot.
The record-shattering sale can be attributed in part to the panoramic, unobstructed views of the San Francisco cityscape and the Golden Gate Bridge, the unit’s recent 2018 renovation, and, of course, the unusually robust seller’s market this year.
In a relatively quick sale (after just two weeks on the market), 6 Harvard Circle sold for $2.3 million– a full 100% over its asking price of $1.15 million. The $2.3 million cash offer beat out 29 other offers in the process.
This trend of paying way over asking was part of a growing movement in 2021. According to CNN, “There were more than 940 sales that were more than $500,000 over the list price in March, according to Zillow, twice as many as .”
121 Theresa Street broke records earlier this year when the mid-century modern with a six-car garage went into contract just five days after listing. What’s more, the 1,664-square-foot three-bedroom home sold for almost 50 percent over the asking price; originally listed at $1,525,000, the home ultimately sold for $2,250,000.
121 Theresa’s sale was higher than any previous sale in the neighborhood by over $100,000. Perhaps most surprising of all, the steep offer wasn’t the only one of its kind. Just days after putting the home on the market, the sellers had received seven offers — and three of those were all-cash.
Congratulations to all agents on a successful 2021! If you want to be an agent who works with OHP and sets some new records, use the button below to start your order.
We look forward to a successful 2022 and can’t wait to work with you!