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Market Update: April 2004

The San Francisco Real Estate Market continues to hold steady! Although there was more inventory in April, selling prices continue to be above the listing price in all of the categories below, once again indicating that this is an incredible SELLER's market! And who knows how long it will continue?

Here's what Avram Goldman, President and Chief Operating Officer of Coldwell Banker - San Francisco Bay Area said in his weekly report for April 18-24: "Most markets are still flying high. With few exceptions, most areas are still seeing large numbers of multiple offers. Amazingly, we are still experiencing those with over 20 offers... San Francisco is mixed; still very active under a million. Some offices are reporting a bit slower, but compared to a crazed market last month... Open houses are still very active---many have 50-100 buyers coming through.."

The number of Single Family Homes sold was up considerably over last month. Yet, even with more homes on the market, the average selling price was 110% of the listing price. Once again, most of this was because of multiple offer situations! The market activity continues to be strong and shows no signs of slowing down. This is a great time to sell!

The number of Condominiums sold dropped from last month, yet the average listing and selling prices were both higher than the previous month. Again, the average selling price is more than 104% of the listing price. Because inventory continues to be low, the high demand fueled by low interest rates, makes for a difficult buyer's market, but a fantastic seller's market!

Overall Sales showed a slight decrease in volume, in listing price and in sales prices from last month. The average selling price was still nearly 107% of listing price.

It looks like Spring has been one of our most active markets. We continue to see multiple offers, with many properties getting 4 or more offers and some receiving as many as 20 offers! If you are considering making a move, this would be a great time to do it!

Interest rates continue to hold steady and are still the lowest in years! Lenders have many great loan programs available!

San Francisco Real Estate continues to be a great investment!

April 2004 **

March 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.