Local Market Updates
Median Sales Price of San Francisco vs Miraloma Park
Based on market conditions, limited space, and demand, the housing market can fluctuate. However, Miraloma Park offers a more affordable alternative compared to San Francisco, with its median sales prices being relatively fair, providing a budget-friendly option. A comparison of the median sales prices between San Francisco and Miraloma Park reveals that the former has higher prices due to its high demand.
In 2023, the median home prices in San Francisco decreased by 6.7% compared to 2022, selling for a median price of $1.2 million. Whereas, in 2024, Miraloma Park home prices surged by 24.2% compared to the previous year, with properties selling for a median price of $1.6 million.
Days on Market of San Francisco vs Miraloma Park
When comparing the average days on the market for homes in San Francisco and Miraloma Park, it’s evident that properties in Miraloma Park tend to sell much faster. In San Francisco, homes typically remain on the market for around 52 days, whereas in Miraloma Park, houses sell within a significantly shorter period, averaging just 14 days.
Percent of Original Price of San Francisco vs Miraloma Park
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.