Local Market Updates
Median Sales Price of San Francisco vs North Panhandle
Despite fluctuations in the housing market due to limited space and demand, North Panhandle offers a comparatively more affordable option than San Francisco. The median sales prices in North Panhandle are generally fairer, providing a budget-friendly alternative. For instance, in 2023, the median sales price for homes in San Francisco was $1.2 million, marking a 6.7% decrease from 2022. In contrast, homes in North Panhandle sold for a median price of $1.3 million in the same period, reflecting a 13.0% decrease compared to the previous year. While both areas experienced declines, North Panhandle remained relatively more affordable than San Francisco, despite its higher median sales price.
Days on Market of San Francisco vs North Panhandle
The average number of days a house remains on the market is influenced by several factors, including market conditions and neighborhood characteristics, which can lead to variations in selling periods. For example, in San Francisco, homes typically sell relatively quickly, with an average selling time of 52 days. In contrast, properties in North Panhandle tend to have longer selling periods, averaging around 163 days on the market before being sold.
Percent of Original Price of San Francisco vs North Panhandle
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.