Local Market Updates
Median Sales Price of San Francisco vs Bayview
Despite fluctuations in the housing market driven by factors like limited space and demand, Bayview emerges as a more affordable alternative to San Francisco, offering median sales prices that provide a budget-friendly option. A comparison between San Francisco and Bayview reveals that the former typically command higher prices due to its high demand. In 2023, the median home prices in San Francisco experienced a decline of 6.7% compared to the previous year, selling for a median price of $1.2 million. Similarly, in February 2024, Bayview’s home prices saw a slight decrease of 1.7% compared to the previous year, with a median price of $900,000. Despite these fluctuations, Bayview remains an attractive option for homebuyers seeking more affordable housing within the San Francisco area.
Days on Market of San Francisco vs Bayview
In San Francisco, homes typically sell within 52 days, whereas in Bayview, houses tend to remain on the market for approximately 80 days. These variations in selling periods can be attributed to factors such as market conditions and neighborhood dynamics, which influence the pace of real estate transactions.
Percent of Original Price of San Francisco vs Bayview
The “Percent of Original Price” is a metric calculated by dividing the final sale price of a property by its most recent listing price.
In general, factors such as high demand, limited housing supply, and the desirability of a neighborhood can influence whether properties sell below or above their most recent listing listing price.