Is South of Market, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South of Market has remained a Seller's Market.
Key Takeaway
South of Market is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South of Market, CA
How much do homes in South of Market, CA cost?
Median Sold Price
$900,400
$938/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South of Market have sold for 8.9% less than they did a year ago.
Summary: The median home sold price in South of Market was $900,400 in April 2024, down 8.9% from last year, and the median price per square foot was $938.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $760K | $700K | -7.9% |
| 2 Bedrooms | $1.2M | $1.1M | -2.8% |
| 3 Bedrooms | $1.8M | $1.9M | +5.5% |
| 4 Bedrooms | $1.6M | - | N/A |
| 5+ Bedrooms | $1.7M | $1.0M | -40.6% |
Summary: South of Market housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.9%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 5.5%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 40.6%.
Median Sold Price Compared To Nearby Neighborhoods
| South End Historic District | $1.2M | $1.3M | +11.7% |
| China Basin | $915K | $897.5K | -1.9% |
| South of Market | $988.3K | $900.4K | -8.9% |
Housing Supply in South of Market, CA
How many homes are available in South of Market, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 234 | 231 | -1.3% |
Summary: The South of Market real estate market had 231 homes for sale in April 2024, a 1.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 106 | 113 | +6.6% |
| 2 Bedrooms | 102 | 91 | -10.8% |
| 3 Bedrooms | 21 | 21 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The South of Market housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.6%, 2 bedroom homes decreased by 10.8%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 39 | +11.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South of Market, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in South of Market in April 2024, up by 11.4% month-over-month. Of the 39 sold homes, 62% were sold under asking, 21% were sold at asking, and 18% were sold over asking.
Days on Market for South of Market, CA
How long does it take to sell a home in South of Market, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 143 Days | +577.7% |
Summary: Homes in South of Market had an average of 143 days on market in Apr 2024, up by 577.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in South of Market are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 39 homes were sold in South of Market; 0% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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