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May
San Francisco Real Estate Market Update for
April 2005

The San Francisco Real Estate Market for April was incredible! The number of homes sold increased again for the second month in a row for all three categories we track. And although average listing prices dipped slightly from the previous month, the selling prices were still almost 110% of listing prices in all categories. Inventory has been increasing with more homes on the market, yet buyers continue to find themselves in multiple offer situations. Now is an incredible opportunity for SELLERS!

Avram Goldman, President and COO of Coldwell Banker, SF Bay Area reported for the last week in April, "...the offers just keep rolling in. Yes, the same old story---shortage of inventory and strong buyer demand. Although the good news is we are seeing more listings coming on the market. The notable observations this week: Still plenty of multiples although we are seeing fewer number of offers on multiple offer listings; open houses are still well attended---some had 200 groups through; a bit more fall out; a few homes sitting a little bit more than expected; and a few buyers are beginning to experience fatigue and taking a breather. All signs that we are beginning to see a movement toward equilibrium. Not here yet, but could come as we enter the second half of the year."

The number of Single Family Homes sold for April was up again for the second month in a row. The average listing price dipped slightly from March. Incredibly, the sales price was over 111% of the listing price. Multiple offer situations are still common.

The number of Condominiums sold in April also rose for the second month in a row. The average listing price decreased slightly from March, yet the average selling price was over 109% of the listing price!

Overall Sales for April once again showed a slight increase over March. Although the average listing price was down from the previous month, and the average selling price was over 110% of the listing price.

Although the Fed keeps raising Interest rates to counter the effects of inflation, lending rates remain relatively low. Mortgage brokers and banks have some great new programs for buyers. Foster Weeks of Olympic Funding said in his May 2, 2005 newsletter, "...and the news and economic reports of last week had already been very mixed, sending some conflicting signals about the pace of inflation and the overall strength of the US economy. Bonds were shaken but not stirred as they absorbed a slate of reports that unfortunately did not provide a clear picture as to where the trend on growth and inflation may go from here. Home loan rates bumped around and had improved just slightly with the news midweek, but ended largely unchanged overall."

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

April 2005 **

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.