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

March
San Francisco Real Estate Market Update for
February 2006

The San Francisco Real Estate Market for February was considerably better than January as was expected. With inventories on the rise, things should continue to improve as we move toward the spring market. Compare the number to a year ago and it can be seen that although the number of homes sold were down in all categories we track, the average listing and selling prices were higher.

Avram Goldman, President and COO of Coldwell Banker, San Francisco Bay Area said in his mid-February report,

"...Yes, the market has been see-sawing since the beginning of the year. One week is great and the next slows. However the past week it appears the momentum is moving forward and buyers have become more serious. Open houses continue to have large numbers of buyers through them. Markets that have been slow to get started are beginning to pick up speed... San Francisco continues to be a strong with all offices reporting too many buyers for too few listings... A home in San Francisco priced at $1.7 million received 7 offers and went 22% above asking.

"...Buyers are more cautious this year because of the onslaught of articles in the media about the changing market or at least that is what they are telling many of you. As one manager put it, we not only have to manage expectations of buyers and sellers, now we have to manage the media. With that said many buyers realize that now is a good time to buy because interest rates are going to continue to rise, although slowly, and that they have a greater opportunity to negotiate while some buyers wait to jump in. ..."

"...The overall theme for sellers who want to maximize their equity and time on the market need to definitely stage their homes, have all inspections and disclosures done and price their homes as close to market as possible. These are the homes that are creating the greatest excitement in the market and yielding top dollar..."

The number of Single Family Homes sold for February was up from January. And the average selling price was more than 102% of the listing price. The number of homes sold was down from the same time last year, but average listing and selling prices were both higher than a year ago.

The number of Condominiums sold in February showed the biggest increase from last month. The average listing and selling price both increased over January by about $10,000 (that's in a month) and average sales prices were over 102% of listing prices. Compared to a year ago, the number, average listing and selling price were also higher.

The number of Overall Sales for February was up from the previous month. The average listing and selling price both increased from January as well. The average selling price form February was nearly 102% of the listing price and over 102% of last year's average sales price.

Don't miss out on your opportunity to buy or sell! San Francisco Real Estate continues to be a great investment!

February statistical market history is now online.

February 2006 **

January 2006 **

February 2005 **

* 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.