Local Market Updates
Median Sales Price of San Francisco vs Excelsior
In light of market conditions, space constraints, and demand fluctuations, the housing market experiences variability. However, when contrasting San Francisco with Excelsior, the latter presents a more affordable alternative, with median sales prices offering a budget-friendly option. A comparison of median sales prices between the two areas underscores San Francisco’s higher prices, driven by its heightened demand. In 2023, San Francisco’s home prices experienced a decrease of 6.7% compared to the previous year, settling at a median price of $1.2 million. Conversely, in February 2024, Excelsior witnessed a 7.2% increase in home prices compared to the previous year, reaching a median price of $1.1 million.
Days on Market of San Francisco vs Excelsior
When compared to Excelsior, homes in San Francisco typically sell within 52 days, whereas homes in Excelsior have a shorter selling period, with houses selling within 26 days. This discrepancy in selling periods can be attributed to various factors, such as market conditions and neighborhood dynamics, which influence the pace at which properties are bought and sold.
Percent of Original Price of San Francisco vs Excelsior
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.