Local Market Updates
Median Sales Price of San Francisco vs Westwood Highlands
Considering market conditions, limited space, and demand fluctuations, the housing market experiences variability. However, Westwood Highlands, in comparison to San Francisco, offers a more affordable alternative with its fair median sales prices, presenting a budget-friendly option. Comparing the median sales prices between San Francisco and Westwood Highlands reveals 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 contrast, Westwood Highlands’ home prices witnessed a significant decrease of 27.3% from the previous year, with properties selling for a median price of $1.9M.
Days on Market of San Francisco vs Westwood Highlands
The average number of days a house remains on the market varies significantly based on different factors, such as market conditions and neighborhood dynamics. For instance, in San Francisco, homes typically sell within approximately 52 days, whereas in Westwood Highlands, houses tend to sell much faster, with an average selling period of just 17 days. This considerable difference underscores the influence of specific localities on the pace of real estate transactions, highlighting how factors unique to each neighborhood can shape the selling process.
Percent of Original Price of San Francisco vs Westwood Highlands
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.