While there are numerous real estate market data and market trend sites, we believe that buyers are sellers want to know three things: How much, How Many, and How Long?
Russian Hill real estate market trends. How many home sales in Russian Hill? What’s the Median Russian Hill Sales Price? How Long Does a Sale in Russian Hill Take? Are Homes Selling For More or Less Than Asking in Russian Hill?
How Much is answered by the Median Sales Price, Price per Square Foot, and Average % over/under asking price received charts.
How Many is, as you might guess, answered by the number of active listings graph.
How Long is answered by the Days on Market (DOM) statistic, showing the average length of time from the mls listing going public to the time it enters the pending status with all contingencies removed.
Median sales price is calculated based on sold data and doesn’t account for seller concessions. Median price represents the point at which half of the homes sold for more and half sold for less. In smaller neighborhoods like many of those found in San Francisco, this metric is less likely to be influenced by extremely high or low sales prices that don’t represent the typical neighborhood home.
Days on Market indicates how quickly or slowly homes are selling in the neighborhood. The lower the days on market (DOM), the stronger the market is for sellers, all other things being equal.
The number of homes available for sale in active status at the end of a given month. Fewer homes available for sale may indicate a seasonal trend or market dynamics that favor a seller more than a buyer.
In strong or balanced markets, homes in San Francisco typically sell over asking. In a buyer’s market, homes will sell at list price or slightly under. If a home has had price reductions, the calculation is based on the last listed price.
Price per square foot is most useful when the homes are almost identical in size, age, layout and other factors important to buyers. Our experience suggests it is a more valuable metric in larger condo buildings and less valuable for homes in neighborhoods built with a diverse selection of styles, sizes, and ages.
We provide dynamic real estate market trends for neighborhoods across San Francisco based on the SFAR MLS sub-district area boundaries and data. The San Francisco Association of Realtors (SFAR), of which Matt is a Past President, runs the San Francisco Multiple Listing Service (MLS), the primary multiple listing service for homes in San Francisco and now part of the NorCalMLS Alliance.
The NorCalMLS Alliance powers Jackson Fuller residential real estate listing data and provides real estate listings from over 55,000 listing professionals serving a population of over 11 million consumers in 22 northern California counties covering more than 28,000 square miles: Alameda, Amador, Contra Costa, Marin, El Dorado, Mendocino, Merced, Monterey, Napa, Nevada, Placer, Sacramento, San Benito, San Francisco, San Joaquin, San Mateo, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus and Yolo.
The SFAR MLS categorizes homes into 90 “sub-districts” — what normal people think of as neighborhoods —grouped into 10 geographic districts, District 1 – District 10.
SFAR districts for real estate market trends are totally different from the Board of Supervisor political voting districts and any other districts like community benefit districts, etc.
We didn’t create any neighborhood names for market trends, but we did our best to address some historical anomalies and modern-day marketing changes.
The SFAR MLS sub-district for Castro market trends is technically named “Eureka Valley/Dolores Heights.” Noe Valley is below Noe Peak, and Eureka Valley is below Eureka Peak, hence the neighborhood names. We refer to the sub-district on our site as The Castro with a separate page for Dolores Heights.
What was Hunter’s Point naval base has been re-branded by the developer as The Shipyard.
The neighborhood Wikipedia refers to as Bayview-Hunters Point is what we call Bayview market trends.
We refer to the SFAR Bayview sub-district as Bayview-Hunters Point and the SFAR Hunters Point sub-district as The Shipyard.