Local Market Updates
Median Sales Price of San Francisco vs Noe Valley
Comparing the median sales prices between San Francisco and Noe Valley reveals a notable difference, with the latter offering a more budget-friendly alternative. While San Francisco’s median home price was $1.2M in 2023, down by 6.7% from the previous year, Noe Valley boasted a median sale price of $1.7M last month, indicating a decrease of 14.8% since the previous year. Additionally, the median sale price per square foot in Noe Valley stands at $1.16K, down by 0.22% from the previous year. This data underscores Noe Valley’s affordability relative to San Francisco, making it an attractive option for homebuyers seeking more reasonable housing prices amidst the city’s high demand and limited space.
Days on Market of San Francisco vs Noe Valley
In San Francisco, homes typically sell within 52 days, whereas in Noe Valley, houses sell within a notably shorter period of 28 days. This variance in selling periods can be attributed to a combination of factors such as market conditions, neighborhood desirability, pricing strategies, and demand for housing in each respective area. Noe Valley’s shorter selling period may indicate high demand, favorable market conditions, and the neighborhood’s attractiveness to prospective buyers, leading to quicker transactions compared to the broader San Francisco market.
Percent of Original Price of San Francisco vs Noe Valley
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.