Local Market Updates
Median Sales Price of San Francisco vs Mission Terrace
In light of market conditions, limited space, and demand, the housing market experiences fluctuations. However, Mission Terrace offers a more affordable alternative compared to San Francisco, with its fair median sales prices providing a budget-friendly option. A comparison of median sales prices between San Francisco and Mission Terrace reveals that the former commands higher prices due to its heightened demand. While San Francisco’s home prices experienced a 6.7% decline in 2023 compared to 2022, selling for a median price of $1.2 million, Mission Terrace saw a more significant decrease in February 2024, with home prices down by 13.8% compared to the previous year, selling for a median price of $1.1 million.
Days on Market of San Francisco vs Mission Terrace
In San Francisco, homes typically sell within 52 days, whereas in Mission Terrace, houses tend to sell within a slightly shorter timeframe of 50 days. These differences in selling periods can be influenced by various factors, including market conditions and neighborhood dynamics, which contribute to the pace of real estate transactions.
Percent of Original Price of San Francisco vs Mission Terrace
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.