Click here for San Francisco Real Estate Featured Homes.
Search the San Francisco MLS for your home.
SFResidence now offers International Investment Property opportunities.

February
San Francisco Real Estate Market Update for
January 2005

The San Francisco Real Estate Market for January was slower as expected, at least in volume. The number of homes sold dropped again in all three of the categories we track. February is expected to follow this trend. But even with lower inventories, the high demand continues to drive selling prices higher than listing prices. Investors are beginning to look at vehicles such as Private Annuity Trusts in order to cash out the equity in their properties with little or no tax consequences.

Here is what Avram Goldman, President and COO of Coldwell Banker San Francisco Bay Area, said in his report for the week of Jan. 24-30, "...New listings are beginning to pick up, however they are not sticking around long enough to bring the market into equilibrium. With few exceptions 50-100% of all offers are multiples. Anything under a million is attracting more than one offer..." indicating there are still a lot of first time buyers out there competing for their first home.

The number of Single Family Homes sold was down again in January for the third month in a row, yet the average selling price was over 104% of the listing price. High demand coupled with low inventory indicates that many sellers are getting more than the asking price.

Condominium sales were also strong for January. Although the number of condos sold was down from December, the average listing price was sharply higher. Given that the average selling price was over 103% of the listing price makes it a very healthy market category.

The number of homes in Overall Sales was down too for January yet the selling prices were still more than 103% of the listing price. -

Interest rates continue to remain relatively low. This could be a great opportunity to buy or sell!

Compare January 2005 numbers with January 2004 statistics and you will see that San Francisco Real Estate continues to be a great investment!

January 2005 **

December 2004 **

January 2004 **

* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and 5+ Units.
** Figures subject to change as Multiple Listing Service is updated.

Realtor.com is the official site of the National Association of Realtors® (NAR) and is a search engine for real estate nationwide. Realtor.com has all of San Francisco's listed homes and condominiums.