Local Market Updates
Median Sales Price of San Francisco vs Monterey Heights
Based on market conditions, limited space, and demand, the housing market experiences fluctuations. However, Monterey Heights offers a more affordable alternative compared to San Francisco, with median sales prices being fair and budget-friendly. A comparison between San Francisco and Monterey Heights reveals higher prices in the former due to its high demand.
In 2023, home prices in San Francisco decreased by 6.7% compared to 2022, with a median price of $1.2 million, while Monterey Heights homes prices decreased by 21.2% selling for a median price of $1.6 million.
Days on Market of San Francisco vs Monterey Heights
The average number of days a house remains on the market can be influenced by various factors, including market conditions and neighborhood desirability. In San Francisco, homes typically sell within 52 days, whereas in Monterey Heights, houses tend to sell more quickly, within an average of 17 days. This suggests that Monterey Heights may have a higher demand or more favorable market conditions compared to the broader San Francisco area, leading to shorter selling periods for properties in this neighborhood.
Percent of Original Price of San Francisco vs Monterey 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.