Local Market Updates
Median Sales Price of San Francisco vs Little Hollywood
In the ever-changing landscape of the housing market, factors such as market conditions, limited space, and demand contribute to fluctuations in prices. However, when comparing Little Hollywood to San Francisco, Little Hollywood emerges as a more affordable alternative, with median sales prices offering a budget-friendly option. While San Francisco commands higher prices due to its high demand, Little Hollywood presents a more accessible entry point into homeownership. In 2023, the median home prices in San Francisco experienced a decrease of 6.7% compared to the previous year, selling for a median price of $1.2 million. Conversely, in January 2024, Little Hollywood saw a slight decline of 1.7% in median home prices compared to the previous year, with homes selling for a median price of $855,000.
Days on Market of San Francisco vs Little Hollywood
In San Francisco, homes typically sell within 52 days, whereas in Little Hollywood, houses sell within a significantly shorter period of just 12 days. This discrepancy in the average days on the market can be attributed to various factors, including market conditions and the desirability of the neighborhood, which play pivotal roles in influencing selling periods.
Percent of Original Price of San Francisco vs Little Hollywood
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.