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April
San Francisco Real Estate Market Update for
March 2005

The San Francisco Real Estate Market for March is beginning to break loose! The number of homes sold increased dramatically in all three categories we track. And average listing prices were considerably higher than the previous month, yet selling prices were still over 108% of listing prices in all categories. There are still not enough homes on the market from which to choose, so buyers continue to find themselves in multiple offer situations. Prices continue to move upward. What an incredible opportunity for SELLERS with vision who are ready to put their properties on the market. Early birds quite often get the rewards!

Avram Goldman, President and COO of Coldwell Banker, SF Bay Area reported in February, "Is the scent of equilibrium in the air? The market continues to be strong, however fewer double digit multiple offers and we are seeing an increase of single offers. This trend varies between markets... San Francisco reflects the strength of the Peninsula with the majority of offers being multiples. I am hearing at office meetings that more listings are coming on the market in April and May. If inventories begin to increase we could be moving to a healthier more balanced market."

The number of Single Family Homes sold for March was up significantly from February, as expected. The average listing price made a healthy jump from the previous month, and the sales price was over 109% of the listing price. Multiple offer situations are still common, however this might change as inventories increase.

The number of Condominiums sold in March also jumped dramatically from February. The average listing price increased from last month as well, and the average selling price was over 108% of the listing price!

Overall Sales for March also showed a healthy increase over February. The average listing price was higher than the previous month, and the average selling price was over 108% of the listing price.

Interest rates continue to head up slightly. Although this often causes sales to slow, our unique market situation will most likely cause prices to continue to rise.

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

March 2005 **

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.