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Market Update: June 2003

The San Francisco Real Estate Market is very good this month. The number of properties is slightly more than last month but the significant change is in the Average listing and selling prices. The average sales price for Single Family Dwellings is up to $915,641 which is an increase of 14% over May! That is the highest increase in the average sales price we have seen in a long time.

For Condominiums the average sales price is $649,964 which is an increase of 12.3% over May but the number of sales was down about 10%.

The Overall Market number of sales is up slightly and the average sales price is up almost 16%. The other interesting factor is that the sales price of all categories is still a little over the asking price. So there continues to be multiple offers on well priced properties.

Interest rates are at historic lows and banks are offering great financing packages for purchases and refinancing. San Francisco Real Estate continues to be a great investment.

First Republic Bank reports: "San Francisco area values rose 3% from the 1st quarter of 2002 to the 1st quarter of 2003, but were down 1.9% from the 4th quarter of 2002. The average value of a luxury home in San Francisco was $2.19 milliion in the 1st quarter of 2003."

June 2003**

May 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.

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.