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Presidio Heights Real Estate Market Trends
In November 2024, home prices in Presidio Heights saw a significant decline, dropping 35.6% compared to the previous year, with a median sale price of $2.0 million. Despite the steep decrease in prices, homes sold more quickly on average, spending just 33 days on the market compared to 43 days in November 2023. Additionally, sales activity increased, with 9 homes sold this year compared to 6 last year. This data suggests that while prices have adjusted downward, buyer interest remains strong, leading to faster sales and more transactions in the area. The competitive pricing may be driving increased activity as buyers seize opportunities in this desirable neighborhood.
Presidio Heights is a highly competitive real estate market where homes move quickly. On average, properties sell at around the list price and go pending within just 20 days. Many homes attract multiple offers, with some buyers even waiving contingencies to stay competitive. In particular, "hot homes"—those in high demand—can sell for about 5% above the asking price and typically go pending in as little as 12 days. This fast-paced market reflects strong buyer interest and limited inventory, making it crucial for buyers to act decisively.
In November 2024, Presidio Heights is firmly a seller's market, meaning there are more buyers searching for homes than there are properties available. This imbalance creates a competitive environment where sellers have the upper hand, often receiving strong offers, multiple bids, or favorable terms from eager buyers. For anyone considering selling a home in Presidio Heights, now is an opportune time to take advantage of the high demand and limited inventory.
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