Local Market Updates
Median Sales Price of San Francisco vs North Waterfront
In 2023, San Francisco experienced a 6.7% decrease in median home prices compared to the previous year, with properties selling at a median price of $1.2 million. Conversely, in February 2024, Northern Waterfront witnessed a significant uptick in median home prices, soaring by 22.8% compared to the previous year, reaching a median price of $1.7 million. This data underscores the contrast in housing affordability between San Francisco and the Northern Waterfront, with the latter offering a more budget-friendly option amidst limited space and fluctuating market conditions. Despite San Francisco’s allure and high demand, its median home prices remain higher than those in the Northern Waterfront, making the latter an attractive alternative for prospective buyers seeking more affordable options in the competitive Bay Area housing market.
Days on Market of San Francisco vs North Waterfront
In San Francisco, homes typically sell within an average of 52 days, reflecting the dynamics of its competitive real estate market. Conversely, in North Waterfront, houses boast a significantly shorter selling period, with properties typically changing hands within just 37 days. These figures underscore the influence of neighborhood-specific market conditions on the duration properties remain available before finding buyers, highlighting North Waterfront’s appeal and efficiency in attracting interested purchasers.
Percent of Original Price of San Francisco vs North Waterfront
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.