Click here for San Francisco Real Estate Featured Homes.
Search the San Francisco MLS for your home.
SFResidence now offers International Investment Property opportunities.

Market Update: May 2004

The San Francisco Real Estate Market for May was very strong. Selling prices continue to be above the listing price in all of the home categories, indicating that there are still multiple offer situations. It continues to be an incredible SELLER's market!

Here is what Avram Goldman, President and Chief Operating Officer of Coldwell Banker - San Francisco Bay Area said in his weekly report for May 16-27: "In those markets under $1 million and with inventories in short supply, they should continue to experience multiple offers. However, as inventories increase, pricing and presentation of homes will become a significant factor in their marketability. Sellers should begin to be prepared that in presentations of single offers, buyers could become more demanding and that the first offer presented could very likely be the best. ...this is a healthy sign in keeping the market from totally overheating. Price appreciation will slow and in some cases plateau. Sellers have realized incredible gains in equity over the last 6-12 months. As we enter the summer months there will be positive opportunities for move up sellers and for buyers who have faced numerous multiple offer situations and have not been successful."

The number of Single Family Homes sold dropped slightly from last month. The average selling price was 107% of the listing price, slightly less than April, but still very respectable. The market activity continues to be strong. Now is a great time to sell!

The number of Condominiums sold rose from last month, yet the average listing and selling prices were both lower than the previous month. Even so, the average selling price was more than 105% of the listing price. There are signs that the market is shifting, but is still a fantastic seller's market!

Overall Sales showed an increase in volume, in listing price and in sales prices from last month. However, the average selling price held steady at nearly 107% of the listing price.

It looks like Summer will be an active market for sellers. 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!

May 2004 **

April 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.