Local Market Updates
Median Sales Price of San Francisco vs West Portal
In light of market conditions, limited space, and demand fluctuations, the housing market experiences variability. However,West Portal, when compared to San Francisco, offers a more affordable alternative with its fair median sales prices, presenting a budget-friendly option. Contrasting the median sales prices between San Francisco and West Portal underscores the former’s higher prices due to heightened 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. In comparison, West Portal’s home prices witnessed a steeper decline of 9.46% from the previous year, with properties selling for a median price of $1.7M.
Days on Market of San Francisco vs West Portal
In San Francisco, homes typically sell within an average of 52 days, whereas in West Portal, houses tend to remain on the market for a longer period, selling within an average of 171 days. This discrepancy in selling periods may be attributed to various factors, including market conditions and the specific characteristics of each neighborhood, which can influence buyer demand and the speed of property transactions.
Percent of Original Price of San Francisco vs West Portal
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.