Russian Hill, CA Real Estate Listings & Homes For Sale

In November 2024, home prices in Russian Hill experienced a significant increase, rising by 21.7% compared to the previous year, with a median sale price of $1.9 million. Homes in this desirable neighborhood are selling faster than ever, averaging just 26 days on the market compared to 56 days in November 2023. However, the total number of homes sold declined to 24 this year, down from 35 last year. This combination of rising prices and reduced sales volume suggests a shift toward a more competitive market, where limited inventory and strong demand are driving up property values and quickening the pace of transactions.

Russian Hill has a moderately competitive real estate market. On average, homes sell within 48 days, often for about 1% below the list price. While some properties receive multiple offers, "hot homes"—those in high demand—can sell for approximately 3% above the asking price and typically go pending in just 21 days. This mix of market activity highlights the neighborhood's appeal, with well-priced or highly desirable homes attracting significant buyer interest and moving quickly. For buyers, acting swiftly and strategically can make a big difference in securing a property in this sought-after area.

As of November 2024, Russian Hill is considered a buyer's market, meaning the supply of available homes exceeds the current demand from buyers. This gives buyers an advantage, as they have more options to choose from and potentially greater negotiating power. Sellers may need to adjust their pricing or offer incentives to attract interest in this environment, creating opportunities for buyers to secure properties at more favorable terms in this iconic San Francisco neighborhood.