San Francisco, the city known for its iconic Golden Gate Bridge, vibrant cultural scene, and now the AI capital of the world, is also a hotbed for real estate activity. The city’s diverse neighborhoods each have their unique charm, attracting a variety of buyers. But how have these neighborhoods fared in terms of real estate sales compared to last year? Let’s dive in and explore the data from last June 2022 through this June 2023.* For more details on your area, please reach out to me!
District 1: A Slight Dip in the Market
(Richmond, Lake District, Sea Cliff, Lone Mountain)With 12 sales, District 1 saw a decrease of 23.5% compared to last year. The median sales price also fell by 4.9%, standing at $2,330,000.
District 2: A Significant Drop
(Sunset, Parkside, Golden Gate Heights)District 2 experienced a more significant drop, with sales down by 39.6% at 32 sales. The median sales price also decreased by 15.5% to $1,525,000.
District 3: Holding Steady
(Lakeshore, Ingleside, Merced Heights, Pine Lake Park, Oceanview)In District 3, sales were slightly down by 9.1% with 12 sales. The median sales price also saw a decrease of 10.0%, settling at $1,369,000.
District 4: A Noticeable Decrease
(St. Francis Wood, Balboa, Monterey Heights, Midtown, Mt. Davidson Manor, Sunnyside, West Portal)District 4 saw a decrease of 30.6% in sales with 25 sales. The median sales price also fell by 20.6% to $1,700,000.
District 5: A Major Drop
(Noe, Glen Park, Cole Valley, Clarendon Heights, Eureka Valley, Mission Dolores)District 5 experienced a significant drop in sales by 50.0% with 21 sales. The median sales price also fell sharply by 35.7% to $1,803,000.
District 6: A Surprising Increase
(Hayes Valley, NOPA, Western Addition, Alamo Square)In contrast, District 6 saw an increase in sales by 50% with 6 sales. However, the median sales price decreased by 43.2% to $1,835,500.
District 7: A Slight Increase
(Pacific Heights, Presidio Heights, Cow Hollow, Marina)District 7 saw a slight increase in sales by 7.7% with 14 sales. However, the median sales price decreased by 27.9% to a still hefty $4,797,500.
District 8: A Major Decrease
(Russian Hill, North Beach, Telegraph Hill, Nob Hill, Financial District)District 8 experienced a major decrease in sales by 75.0% with only 4 sales. The median sales price also fell by 26.0% to $3,700,000.
District 9: A Positive Trend
(SOMA, Mission Bay, South Beach, Potrero Hill, Dogpatch)Finally, District 9 saw an increase in sales by 28.6% with 21 sales. The median sales price remained relatively stable with just a 2.9% decrease to $1,845,000.
While some districts in San Francisco have seen a decrease in sales and median sales prices compared to last year, a couple have seen an increase in sales.
In the midst of a challenging market, I recently had the privilege of supporting a client through a successful home sale journey. I believe it’s not about boasting our achievements, but rather sharing the commitment and dedication we bring to the table. Leveraging my skills in detailed market analysis, home staging, and tactical marketing, we were able to spark substantial interest, generating multiple offers and eventually closing at a price that exceeded our initial projections.
Yet, our partnership didn’t conclude with the sale. We set out on a new adventure, to find their next perfect home. Our strategy was not just to look in the obvious places, but to explore less-traveled neighborhoods, and seize opportunities at the right time. This approach led us to a hidden jewel. The outcome was a delighted client who not only realized a significant gain from their home sale but also found their new dream home, securing it at an incredible value. It was a testament to the fact that even in the most complex markets, with the right support, sound decisions can lead to rewarding outcomes.
Data sourced from SFAR Multiple Listing Service July 2023
