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April
San Francisco Real Estate Market Update for
March 2006

Spring is here and the San Francisco Real Estate Market for March showed significant increases over February. Even as inventories continue to rise, the market shows some signs of cooling off. Compared to last year, it can be seen that although the number of homes sold were off slightly in all categories we track, the average listing and selling prices continue to be higher. It would appear that sellers are becoming more realistic in pricing their homes for sale. Notice the change in percentage of sales price versus listing price compared to March 2005. This year the average selling price is still over 102% of the listing price while last year the average selling price was almost 110% of the listing price. This indicates that the low supply and high demand for homes still continues to drive the selling price higher than the listing price. Properties that are priced right continue to generate multilple offers.

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

"...Multiple sales activity is still strong on the SF Peninsula. All but two offices had 30-80% multiple offer transactions, reflecting the limited inventory in those markets... Most of the North Bay is beginning to show steady sales activity with 5 out of 7 offices having between 20-25% of their sales involved in multiples.

"...Open house activity is strong throughout the region. In spite of the inclement weather buyers are still flocking into open homes. They are searching for just the RIGHT home. Meaning they are looking for those homes that are priced at or below market and for the most part those that are in exceptional condition... Pricing is key in today’s market. Overpricing spells disappoint for sellers. This is a market that is increasingly more give and take. That means more negotiations than we have seen in the last 2-3 years..."

"...The market is finding its own level---a level that creates a better balance between buyers and sellers. "

The number of Single Family Homes sold for March was up almost double from February in the San Francisco Real Estate Market . And the average selling price was more than 103% of the listing price. The number of homes sold was roughly unchanged from the same time last year, and average listing and selling prices were both higher than a year ago.

The number of Condominiums sold in March in the San Francisco Real Estate Market also increased from last month. The average selling price increased over February by almost $80,000, and average sales prices were over 102% of listing prices. Compared to a year ago, although the difference of sales price versus listing price was much higher (over 108%), the average listing and selling price were also higher.

Overall Sales for March in San Francisco Real Estate were up from the previous month by almost 100 homes. And the average listing and selling price both increased from February. The average selling price form March was over 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!

March statistical market history is now online.

March 2006 **

February 2006 **

March 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.