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JULY
San Francisco Real Estate Market Update for
June 2004

The San Francisco Real Estate Market for June was once again very strong and shows no signs of slowing. Selling prices continue to be above the listing price in all of the home categories, indicating that there are still multiple offer situations. It will most likely continue to be a great SELLER's market through summer!

Here is what First Republic Bank said in their report for the first quarter of 2004: "San Francisco Bay Area values rose 8.3 percent in the first quarter of 2004 compared to a year ago, and 5.8 percent from the fourth quarter of 2003. Average values reached $2.37 million, just short of the record high set in the second quarter of 2001." Here is the first quarter of 2004 San Francisco Luxury Home Sales report.

The number of Single Family Homes sold was up again over the previous month and the average selling price in June was more than 108% of the listing price, a 1% increase over May.

The number of Condominiums sold in June was 26% more than were sold in May. Although the average listing price was lower, the average selling price was still slightly higher.

Overall Sales were remarkable with more than 18% more homes sold in June than in May, and the sales versus list price remained relatively unchanged at almost 107% of list price.

It looks like Summer will continue to have incredible opportunities for sellers. If you are considering making a move, this would be a great time to do it! Below compare the second quarter figures to the first quarter and you can see a definite strengthening in the market.

However, as Interest rates begin to creep upward (and will most likely continue to do so) this means people will have less and less buying power. Remember, this market won't last forever. Don't miss out on your opportunity to buy or sell!

San Francisco Real Estate continues to be a great investment!

June 2004 **

May 2004 **

Second Quarter 2004

First Quarter 2003

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.