Local Market Updates
Median Sales Price of San Francisco vs Bernal Heights
In 2023, San Francisco experienced a decline in home prices, down by 6.7% compared to the previous year, with properties fetching a median price of $1.2 million. Conversely, in February 2024, Bernal Heights saw a slight decrease of 4.1% in median home prices compared to the previous year, with homes selling for a median price of $1.4 million. Despite this decrease, Bernal Heights continues to offer a more affordable alternative to San Francisco, with its median sales prices remaining relatively fair and providing a budget-friendly option for homebuyers. A comparison of median sales prices between San Francisco and Bernal Heights underscores the higher prices in the former due to its high demand and limited space, emphasizing the relative affordability of Bernal Heights in the competitive housing market.
Days on Market of San Francisco vs Bernal Heights
In San Francisco, homes typically sell within an average of 52 days, reflecting the competitive nature of the city’s real estate market. In contrast, Bernal Heights boasts a significantly shorter selling period, with houses typically selling within just 20 days. This disparity underscores the influence of neighborhood dynamics on the duration properties remain on the market, with Bernal Heights’ desirability leading to faster turnover compared to the broader San Francisco area.
Percent of Original Price of San Francisco vs Bernal Heights
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.