Local Market Updates
Median Sales Price of San Francisco vs Hayes Valley
In contrast to San Francisco’s housing market, Hayes Valley offers a more affordable alternative, with median sales prices that are comparatively fair. While San Francisco experiences higher demand and consequently higher prices, Hayes Valley provides a budget-friendly option due to limited space and market conditions. Specifically, in 2023, the median sales price of homes in San Francisco decreased by 6.7% compared to 2022, selling for a median price of $1.2 million. Conversely, in Hayes Valley, home prices experienced an 11.7% decline compared to the previous year, with a median price of $845,000.
Days on Market of San Francisco vs Hayes Valley
The average number of days a house remains on the market can vary based on several factors, including market conditions and neighborhood characteristics. In the case of San Francisco, homes typically sell relatively quickly, with an average selling period of 52 days. In contrast, houses in Hayes Valley tend to stay on the market for a longer duration, with an average selling period of 78 days. These variations in selling periods can be influenced by factors such as demand, pricing, and buyer preferences within each respective neighborhood.
Percent of Original Price of San Francisco vs Hayes Valley
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.