Local Market Updates
Median Sales Price of San Francisco vs Presidio Heights
In 2023, San Francisco’s housing market saw a decline of 6.7% in median home prices compared to 2022, with properties fetching a median price of $1.2 million. Conversely, in February 2024, Presidio Heights witnessed a staggering surge of 126.7% in median home prices compared to the previous year, reaching a median price of $3.4 million. This significant price difference underscores the affordability advantage that Presidio Heights offers over the bustling real estate market of San Francisco, making it an attractive option for budget-conscious buyers.
Days on Market of San Francisco vs Presidio Heights
In San Francisco, homes typically sell within an average period of 52 days, reflecting the dynamic interplay of market conditions and neighborhood factors. In contrast, properties in Presidio Heights boast a significantly shorter selling period, with houses typically finding buyers within just ten days. This considerable discrepancy underscores the distinct market dynamics between the broader San Francisco area and the more expedited sales process observed in the Presidio Heights neighborhood.
Percent of Original Price of San Francisco vs Presidio 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.