International President's
Premier Realtor®
1699 Van Ness Avenue
San Francisco, Ca. 94109
Business 415.229.1256
Toll Free 866.224.8024
Fax 415.771.1264
|
Market Update: August 2003
The San
Francisco Real Estate Market has slowed down a little, which is typical
for the summer months. The total number of sold properties was down 5%
from last month and the average sales price for all properties was down
again slightly (about 4%).
The average sales price for Single Family Dwellings was at $817,083
which is a decrease of 8% from July and 11% since June. But the most significant
statistic is that the sales price was 103.24% over the asking price. There
is still a lack of inventory that has buyers offering even more over the
asking price on many homes.
Condominium sales decreased almost 7% from July and the average
sales price is $610,311 which is an increase of 3.5% from July. The sales
prices were just a little over the asking price.
Interest rates, 30 year fixed, have increased about 1% but are
still very low, and banks are offering great financing packages for purchases
and refinancing. San Francisco Real Estate continues to be a great
investment.
August
2003**
| Property
Type |
|
Sold |
Avg
Listing
Price
|
Avg
Selling
Price |
%
Sales Price versus Listing |
| Single
Family Dwelling |
|
262 |
$791,462 |
$817,083 |
103.24% |
| Condominium |
|
244 |
$610,062 |
$610,311 |
100.04% |
| ALL
* |
|
581 |
$750,690 |
$764,112 |
101.79% |
July
2003
| Property
Type |
|
Sold |
Avg
Listing
Price
|
Avg
Selling
Price |
%
Sales Price versus Listing |
| Single
Family Dwelling |
|
280 |
$863,911 |
$886,302 |
102.59% |
| Condominium |
|
262 |
$582,401 |
$589,570 |
101.23% |
| ALL
* |
|
615 |
$780,121 |
$793,722 |
101.74% |
Second
Quarter 2003 (April-June 2003)
| Property
Type |
|
Sold |
Avg
Listing
Price
|
Avg
Selling
Price |
%
Sales Price versus Listing |
| Single
Family Dwelling |
|
898 |
$827,565 |
$837,544 |
101.21% |
| Condominium |
|
684 |
$590,021 |
$590,035 |
100.00% |
| ALL
* |
|
1790 |
$766,327 |
$770,209 |
100.51% |
Second
Quarter 2002 (April-June 2002)
| Property
Type |
|
Sold |
Avg
Listing
Price |
Avg
Selling
Price |
%
Sales Price versus Listing |
| Single
Family Dwelling |
|
911 |
$738,117 |
$780,378 |
105.73% |
| Condominium |
|
729 |
$601,375 |
$614,552 |
109.19% |
| ALL
* |
|
1921 |
$725,819 |
$753,227 |
103.78% |
Six
Month Average (January-June 2003)
| Property
Type |
|
Sold |
Avg
Listing
Price |
Avg
Selling
Price |
%
Sales Price versus Listing |
| Single
Family Dwelling |
|
1463 |
$796,447 |
$802,818 |
100.78% |
| Condominium |
|
1265 |
$588,063 |
$587,623 |
99.93% |
| ALL
* |
|
3117 |
$749,191 |
$750,139 |
100.13% |
*
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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is the official site of the National Association of Realtors® (NAR) and
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