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Market Update: April 2003

The San Francisco Real Estate Spring Market is continuing to move along at a steady pace. The average sales price for Single Family Dwellings has increased almost 10% over last month AND the number of sales has increased 44%!!! The sales price is often slightly over the asking price.

For Condominiums the average sales price is down about 8% and the number of sales is down 12%! So condominium sales are not doing as well as single family home sales. The selling price is just a little over the asking price. So the most important factor in selling is the right listing price. When the property is listed at the right price, it sells.

The Overall Market number of sales is up over 12% and the average sales price is up about 6%. So, more buyers are buying more expensive properties and still paying over asking price. That is good news for sellers!

Interest rates continue to be at all time lows which has helped our market strength. San Francisco Real Estate continues to be a great investment.

April 2003 **

March 2003

First Quarter 2003

Fourth Quarter 2002

Six Month Average (July-December 2002)

* 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.

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