Local Market Updates
Median Sales Price of San Francisco vs Lower Pacific Heights
When considering the housing market conditions, factors such as limited space and demand contribute to fluctuations in prices. However, Lower Pacific Heights stands out as a comparatively more affordable option within San Francisco. The median sales prices in Lower Pacific Heights are notably fair, offering a budget-friendly alternative. In comparison to San Francisco, where prices tend to be higher due to increased demand, Lower Pacific Heights presents a more accessible option. For instance, in 2023, the median sales price for homes in San Francisco experienced a decrease of 6.7% from the previous year, reaching $1.2 million. Meanwhile, Lower Pacific Heights saw a more substantial decline of 23.6% in median home prices, with properties selling for a median price of $1.7 million.
Days on Market of San Francisco vs Lower Pacific Heights
The average number of days a house remains on the market is influenced by various factors, including market conditions and neighborhood dynamics, which can result in longer or shorter selling periods. In San Francisco, homes typically sell within an average of 52 days, whereas in Lower Pacific Heights, houses tend to stay on the market for slightly longer, with an average selling period of 66 days.
Percent of Original Price of San Francisco vs Lower Pacific Heights
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.