Another day, another record in San Francisco’s luxury real estate market. The $20 million sale of a Sea Cliff home has set a new bar for what buyers are willing to pay: $4,574 per square foot.
In some ways, the late-June sale of 740 El Camino del Mar was unremarkable given how crazy the city’s market has become. It took place off-market, as many top sales do, and wasn’t even the highest sale of the month. (That honor goes to 2880 Vallejo St., which sold June 18 for $26.5 million. That newly renovated home has 7,500 square feet, a garage with a car turntable, and a backyard with a built-in cold plunge.)
But El Camino del Mar did set a city record for the highest price per square foot, according to Compass Chief Economist Mike Simonsen. Only a few condo sales, at 181 Fremont St., have come close, at $4,400 per square foot. The prior record for single-family homes was around $3,800, he said. The citywide median price per square foot in June was $1,230 for single-family homes and about $100 less for condos…