Local Market Updates
Median Sales Price of San Francisco vs Van Ness/Civic Center
In 2023, San Francisco experienced a 6.7% decline in median home prices compared to 2022, with properties selling for a median price of $1.2 million. Conversely, in Civic Center / Van Ness, the median sale price of a home reached $827,000 last month, reflecting a 6.0% increase compared to the previous year. This data highlights Civic Center / Van Ness as a more affordable alternative to San Francisco, offering budget-friendly options for homebuyers seeking to enter the market. Despite fluctuations driven by limited space and demand, the Civic Center / Van Ness area presents a favorable opportunity for those looking to invest in real estate without compromising on affordability.
Days on Market of San Francisco vs Van Ness/Civic Center
In San Francisco, homes typically sell within an average of 52 days, reflecting the city’s dynamic real estate market and high demand. In contrast, Van Ness/ Civic Center sees houses remain on the market for a slightly more extended period, with an average selling time of 58 days. These variations highlight the influence of factors such as market conditions and neighborhood dynamics on the duration properties spend on the market before finding buyers.
Percent of Original Price of San Francisco vs Van Ness/Civic Center
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.