Local Market Updates
Median Sales Price of San Francisco vs Telegraph Hill
In 2023, the housing market in San Francisco experienced a decline of 6.7% in median home prices compared to the previous year, with properties selling for a median price of $1.2 million. Conversely, in February 2024, Telegraph Hill saw a notable increase of 17.4% in median home prices compared to the previous year, reaching a median price of $980,000. This significant price difference underscores Telegraph Hill’s appeal as a more affordable alternative to the broader San Francisco market, providing budget-friendly options for prospective buyers amidst the city’s limited space and high demand.
Days on Market of San Francisco vs Telegraph Hill
In San Francisco, homes typically sell within an average of 52 days, reflecting the brisk pace of the city’s real estate market. In contrast, houses in Telegraph Hill tend to remain on the market for a more extended period, with an average selling time of 100 days. These variations underscore the influence of factors such as market conditions and neighborhood dynamics on the duration properties spend before finding buyers.
Percent of Original Price of San Francisco vs Telegraph Hill
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.