For those watching the major real estate markets of Los Angeles and San Francisco, Movoto.com has compiled market statistics since the start of the new year for both cities.
Though the city of San Francisco has seen more price decreases than the city of Los Angeles, Los Angeles has a higher percentage of distressed properties. Los Angeles shows that 12% of their properties are distressed, while San Francisco only shows 4%. San Francisco’s total inventory is 1144 homes for sale, and there were a total of 1014 price increases, and 1144 price decreases. Los Angeles has a total inventory of 3736 homes for sale, and had 95 price increases and 516 price decreases.
To anyone sitting on the fence as to which city’s real estate market saw the most improvement, Movoto found that the median price per square foot in Los Angeles rose in price by 25% since 2009, whereas San Francisco’s median price per square foot decreased by 4% since 2009. So, it looks like you can get more home for your dollar in San Francisco, currently.