Youâ€™ve received a number of valid points. As has been mentioned, there is limited sales data for 1 bedrooms & itâ€™s impossible to determine property value without seeing a property.
Hopefully, youâ€™ve owned your condo for 5+ years and have equity in the property. Otherwise, the numbers may not make sense if you decide to sell after commissions & other sales expenses are factored in.
If you think there is the possibility that you will return to S.F., your best option could be to hold onto your condo as a rental. That is correct, rental prices are somewhat soft but as is typical there is very limited pet friendly rental inventory. This has been a great niche market for myself & my clients.
In my 10+ years of leasing, Iâ€™ve never had to withhold a portion of the security deposit due to pet damage. I believe your complex allows 1 pet up to 25 pounds. If so & if youâ€™re open to the approach of renting to someone with a cat or dog, it will result in a higher rent than units that don't allow pets and less vacancy time.
Currently on Craigslist for the Diamond Heights/Twin Peaks area there are only 5 rentals that are under $1800/mo which allow cats & 3 of these allow dogs. My rental property has predominantly been filled with dog owners for the last 10+ years.
To further illustrate this demand, I just had two vacancies at my Glen Park property mid-March both of which were leased fairly quickly (within 1 & 3 showings) to dog owners. One unit had a rent increase & one unit had a small decrease; I offered no rent concessions either.
There is a link below to my blog for additional rental strategies:
Another detail: condos are not under rent increase limits so when the rental market rebounds there is the potential to increase the rent to market rates by giving a tenant the appropriate 30-60 days notice.
As for the sale approach, the recent trend is that the most active segment of the sales market are for properties under the $700K price point. Financing is a lot easier below this limit, rates are lower & first time buyers who had been priced out of the market for the last several years now have an opportunity to buy.
I hope this is helpful information.
Cheryl Bower, Realtor , GRI, ABR
Zephyr Real Estate