Local Market Updates
Median Sales Price of San Francisco vs Yerba Buena
In 2023, San Francisco experienced a 6.7% decline in median home prices compared to the previous year, with properties selling for a median price of $1.2 million. Conversely, in February 2024, Yerba Buena saw a significant increase of 30.7% in median home prices compared to the preceding year, reaching a median price of $1.0 million. This data highlights Yerba Buena as a more affordable alternative to San Francisco, offering budget-friendly options for prospective buyers despite the fluctuating housing market conditions. While San Francisco maintains higher prices due to its high demand and limited space, Yerba Buena presents an opportunity for those seeking more reasonably priced homes within the vibrant San Francisco Bay Area.
Days on Market of San Francisco vs Yerba Buena
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 Yerba Buena tend to linger on the market slightly longer, with an average selling period of 54 days. These figures highlight the nuanced influence of factors such as market conditions and neighborhood dynamics on the duration properties remain available before finding buyers.
Percent of Original Price of San Francisco vs Yerba Buena
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.