AP Photo/Ben Margot
A Porsche SUV is parked in space #142 Thursday, June 13, 2013, in a parking lot near AT& T Park in San Francisco. A spot in the city's trendy South Beach neighborhood sold last week for $82,000. The 8- by 12-foot parking space is in an enclosed garage in a condominium building.
California's housing market doesn't care if you're a person or a car.
In Los Angeles, you might see homes selling for $100,000 over list, but in Northern California cars are paying a steep price of their own.
AP reports that the recent surge in San Francisco real estate prices — up 22.2 percent in March compared to a year ago — has driven up the price of parking spaces. According to the San Francisco Chronicle, a spot in the city's South Beach neighborhood sold last week for $82,000.
The 8- by 12-foot parking space is in an enclosed garage in a condominium building near the San Francisco Giants' ballpark. A Porsche SUV was parked in it on Thursday. The Chronicle said the unidentified buyer did not respond to interview requests.
Climb Real Estate handled the deal and told the Chronicle that the parking space — located in a building that allows nonresidents to own a spot — was only on the market for two weeks.
The sale was cash, and the owner has a deed and must pay property taxes and homeowner association dues.