Local Market Updates
Median Sales Price of San Francisco vs Inner Mission
In 2023, San Francisco experienced a 6.7% decrease in median home prices compared to the previous year, with properties selling for a median price of $1.2 million. Conversely, in February 2024, the Inner District saw a slight decline of 5.8% in median home prices compared to the preceding year, with homes selling for a median price of $1.0 million. Despite this decrease, the Inner District continues to offer a more affordable alternative to San Francisco, with its median sales prices remaining comparatively fair. This disparity underscores the difference in pricing dynamics between the two areas, with San Francisco commanding higher prices due to its high demand and limited space. At the same time, the Inner Mission provides a budget-friendly option for homebuyers.
Days on Market of San Francisco vs Inner Mission
In San Francisco, homes typically sell within an average of 52 days, reflecting the city’s dynamic and competitive real estate market. Conversely, in the Inner Mission neighborhood, houses tend to stay on the market slightly longer, with an average selling period of 56 days. These figures highlight the nuanced impact of various factors, such as market conditions and neighborhood dynamics, on the duration properties remain available before finding buyers.
Percent of Original Price of San Francisco vs Inner Mission
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.