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Market Update: May 2003

The San Francisco Real Estate Spring Market is still strong with low interest rates and high demand. The average sales price for Single Family Dwellings is lower than last month and the number of sales has decreased slightly but is still stronger than the first quarter. The sales price is often slightly over the asking price.

For Condominiums the average sales price is up slightly and the number of sales is up also! So condominium sales are doing well. 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 down about 6% and the average sales price is down about 4.5%. But it is still a relatively strong market and a little better than the first quarter average.

Interest rates continue to be at all time lows (even lower than last month) which has helped our market strength. San Francisco Real Estate continues to be a great investment.

May 2003**

April 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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