Local Market Updates
Median Sales Price of San Francisco vs Outer Mission
Despite fluctuations in the housing market due to market conditions, limited space, and demand, Outer Mission offers a more affordable alternative compared to San Francisco, with its median sales prices being fair and budget-friendly. A comparison of the median sales price between San Francisco and Outer Mission reveals that the former commands higher prices due to its high demand. In 2023, San Francisco’s home prices experienced a decline of 6.7% compared to 2022, selling for a median price of $1.2M. Meanwhile, in February 2024, Outer Mission home prices saw a significant decrease of 29.0% compared to the previous year, with a median price of $716K.
Days on Market of San Francisco vs Outer Mission
In San Francisco, homes typically sell within an average of 52 days, whereas in Outer Mission, houses tend to sell at a faster pace, with an average selling period of just 26 days. These differing timelines can be attributed to various factors, including market conditions and neighborhood dynamics, which influence the speed at which properties are bought and sold in each area.
Percent of Original Price of San Francisco vs Outer Mission
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.