Local Market Updates
Median Sales Price of San Francisco vs Hunters Point
In light of market conditions, space constraints, and demand, the housing market experiences fluctuations. However, when comparing Hunters Point to San Francisco, Hunters Point offers a more affordable alternative, with its median sales prices proving to be fair and providing a budget-friendly option. Analysis of the median sales prices between San Francisco and Hunters Point reveals that the former commands higher prices due to its high demand. Specifically, while the median home prices in San Francisco experienced a 6.7% decline in 2023 compared to 2022, selling for a median price of $1.2 million, in February 2024, Hunters Point home prices saw a significant decrease of 50.7% compared to the previous year, with a median price of $503,000.
Days on Market of San Francisco vs Hunters Point
In San Francisco, homes typically sell within 52 days, showcasing the brisk pace of the real estate market in the city. However, in neighborhoods like Hunters Point, houses tend to linger on the market for a more extended period, with an average selling time of 110 days. This discrepancy in selling periods can be attributed to various factors, including market conditions and the perceived desirability of the neighborhood.
Percent of Original Price of San Francisco vs Hunters Point
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.