Silver Terrace Redfin Market Trends And Insights

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The Silver Terrace neighborhood in San Francisco has been a hub of activity in recent years, with a mix of old and new residents, businesses, and developments. For those looking to buy or sell a home in the area, understanding the current market trends and insights is crucial. Here, we'll delve into the latest data and provide an in-depth analysis of the Silver Terrace real estate market.

Overview of Silver Terrace Real Estate Market

The Silver Terrace neighborhood is located in the southeastern part of San Francisco, bordered by the Excelsior, Crocker-Amazon, and Outer Mission neighborhoods. The area is known for its diverse community, excellent schools, and easy access to public transportation. According to Redfin, the median sale price of homes in Silver Terrace has been steadily increasing over the past few years, with a notable spike in 2020.

Median Sale Price Trends

As of 2022, the median sale price of homes in Silver Terrace is around $1.3 million, which is significantly higher than the San Francisco median sale price of around $1.1 million. This increase can be attributed to the high demand for housing in the area, driven by its excellent schools, diverse community, and easy access to public transportation.

Neighborhood Characteristics

Silver Terrace is a diverse neighborhood with a mix of old and new residents, businesses, and developments. The area is known for its:

• Excellent schools: Silver Terrace is served by the San Francisco Unified School District, which is highly rated by parents and educators.
• Diverse community: The neighborhood is home to a diverse community of long-time residents, young families, and professionals.
• Easy access to public transportation: Silver Terrace is well-connected to the rest of San Francisco via public transportation, including buses and light rail.
• Local businesses: The neighborhood is home to a variety of local businesses, including restaurants, cafes, and shops.

Home Types and Prices

Silver Terrace offers a range of home types, including single-family homes, condos, and townhouses. According to Redfin, the median sale price of homes in Silver Terrace varies depending on the type of home:

• Single-family homes: $1.5 million - $2.5 million
• Condos: $800,000 - $1.5 million
• Townhouses: $1 million - $2 million

Market Insights

Based on the data, here are some key market insights for Silver Terrace:

• The median sale price of homes in Silver Terrace is increasing steadily, driven by high demand and limited inventory.
• The neighborhood is attracting young families and professionals who value its excellent schools, diverse community, and easy access to public transportation.
• The area is seeing an influx of new developments, including condos and townhouses, which is adding to the housing stock and changing the neighborhood's character.
• Buyers are willing to pay a premium for homes in Silver Terrace, with many sales closing above the asking price.

Advice for Buyers and Sellers

Based on the market trends and insights, here is some advice for buyers and sellers in Silver Terrace:

• Buyers: Be prepared to act quickly and make competitive offers, as the market is highly competitive. Consider working with a real estate agent who knows the neighborhood and can provide valuable insights and guidance.
• Sellers: Price your home competitively and be prepared to negotiate. Consider staging your home to showcase its best features and attract potential buyers.

Gallery of Silver Terrace:

FAQ Section:

We hope this article has provided valuable insights into the Silver Terrace real estate market. Whether you're a buyer or seller, understanding the current market trends and characteristics of the neighborhood is crucial in making informed decisions. If you have any further questions or would like to discuss your real estate needs, please don't hesitate to contact us.