Local Market Updates
Median Sales Price of San Francisco vs Marina
In 2023, the median sales price for homes in San Francisco experienced a 6.7% decline from the previous year, selling for a median price of $1.2M. Meanwhile, in the Marina, home prices dropped by 16.8% compared to last year, offering a more affordable option with a median price of $1.7M. Despite the downturn in both markets, San Francisco maintains higher prices due to its consistently high demand.
Days on Market of San Francisco vs Marina
In San Francisco, homes typically sell within an average of 52 days, indicating a relatively swift turnover in the city’s competitive real estate market. Conversely, in Mariana, houses tend to linger on the market slightly longer, with an average selling period of 53 days. These figures highlight the nuanced interplay of various factors, such as market conditions and neighborhood dynamics, that influence the duration of properties remaining available before finding buyers.
Percent of Original Price of San Francisco vs Marina
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.