SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.

Here are the numbers for this week: 11/07/07:

• 2 new listings (average price $2,030,000 – low $565,000, high $3,495,000)
• 6 ratified sales (pending) (average price $1,298,000 – low $749,000, high $2,150,000)
• 12 closed sales (sold) (average price $1,300,917 – low $800,000, high confidential)
• 1 reduced at $2,600,000

- Christine Serventi

Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:

These are actual news headlines culled from various sources over the past two weeks: “Does the Drop in Housing Prices Mean It’s Time to Buy?”, “Buying a House Now isn’t a Bad Choice for Everyone,” “Housing Economists Expect Market Turnaround to Begin in 2008,” “Investors Find Silver Lining in Real Estate Market,” and my personal favorite from the San Jose Mercury News Real Estate Blog, “For Avid House Hunters, the Season Starts Today.”…

Read the entire report here.

…Motivated buyers are buying and motivated sellers are selling. And all before the Feds made their rate cut on Halloween! Attractive Berkeley and Oakland Hills properties are still getting multiple offers. A $900,000+ listing on the Alamo/Walnut Creek border sold in one day. A San Ramon listing priced at $1,425,000 sold in less than one week. Greenbrae is reporting solid activity, some multiple offer situations and steady movement of higher end properties. Pending sales are on the increase in Pleasanton and well-priced Santa Rosa homes are seeing multiple offer situations.

Burlingame, Half Moon Bay and Menlo Park are reporting exceptional open house activity. Burlingame noted that homes in solid middle price points were experiencing anywhere from 20 to 75 groups of visitors. Palo Alto is noting an “all time low of – 29 listings on MLS in Palo Alto.” San Francisco reports that supply and demand are “quite balanced.” It’s important for our hesitant buyers to be reminded that the upper end of the market remains strong. This week alone, our City offices reported a home closed at over $15M, and two new sales at $5M, while the Woodside office reported a new sale at $7+M.

- Rick Turley

* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with “weekly market report” in the subject line.

Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports.

“Time is on my side…yes it is” – Rolling Stones. Mortgage prices were jostled and bounced around throughout a wild week of economic news and Fed moves. But in the end, time was on the side of those who were patient, as pricing finished the week right about where it began, leaving fixed home loan rates unchanged.

Last week’s highlights included a quarter point Fed rate cut, which brings the Fed Funds Rate down to 4.5%. The Prime Rate now stands at 7.5%, which is good news for home equity lines, consumer and business loans. Additionally, those who have adjustable type loans should see some benefit. But because a Fed cut can stimulate the economy and bring some inflation, fixed home loans tend to worsen a bit after the Fed cuts rates.

The latest read on Inflation was right in-line with the Fed’s target. A 1.8% annual Core Inflation rate was reported, which is within the 1%-2% Fed comfort zone – good news for bonds.

Read the entire report here.

- Foster Weeks

The current monthly report may be seen at SFResidence.com.

The number of Single Family Homes sold for October increased from September in San Francisco Real Estate. The average selling price was over 102% of the average listing price yet higher than the previous month as well as a year ago. The average days on the market decreased slightly to 37.

The number of Condominiums sold in October increased from September in the San Francisco Real Estate Market, however, the average selling price was over 101% of the average listing price. The average selling price was higher than last month, as well as a year ago. The average days on the market decreased to 43.

The number of homes sold in the Overall Sales category for October in San Francisco Real Estate also increased from September and was less than a year ago. Even so, the average selling price was over 101% of the average listing price. The average days on the market decreased slightly to 40.

Read the entire report here.

- Christine Serventi