Barbary Coast, May 29, 2009——Today marks the turnaround of the residential real estate market in the Financial District / Barbary Coast neighborhood.

Today, Unit 53 at The Commons III (170 Pacific Avenue), a two-bedroom + den floor plan, closed escrow for $1,250,000—a 17% annual increase over a sale of the very same floor plan just four months ago. In January, 2009, a two-bedroom + den unit in The Commons sold for $1,150,000. Additionally, this sale received an acceptable offer within five days of being offered for sale.

SPECIFICATIONS: 2 bedrooms, 2 baths, 1471 sq. ft.
ASKING PRICE: $1, 295,000 (HOA dues: $769/month)
SALE PRICE: $1,250,000
DAYS ON THE MARKET: 28
LISTING AGENT: Frederick Allardyce, Sotheby's International Realty, 415-901-1788, fred@allardyce.com