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Market Update: October 2003

The San Francisco Real Estate Market volume has decreased just slightly from September for single family homes, but the average sales price was up significantly--over 8%. It was the highest average price for homes all year.

The average sales price for Single Family Dwellings was at $893,131 which is an increase of 8% from September. The sales price was 104.86% over the asking price. That means there is still a lack of inventory which has buyers offering over the asking price on many homes.

Condominium sales increased 13% over September!! The average sales price is $605,928 which is a decrease of 1.5%. The average sales price has been go up and down slightly for months. But the sales prices continue to be over the asking price.

The overall sales increased this month in number of sales (up over 6%) and average sales price (up over 7%). That indicates a steady strengthing in the market under $1,000,000. With interest rates continuing to go down, the activity should continue to be good.

Third Quarter figures are GREAT and show continued strength in our market. The total number of sales increased 17% with homes increasing 14% and condominiums over 27%! The largest increase in the average sales price was in homes - 12%.

Interest rates are going down again! Banks are offering great financing packages for purchases and refinancing. San Francisco Real Estate continues to be a great investment.

October 2003**

September 2003

Third Quarter 2003 (July-September 2003)

Third Quarter 2002 (July-September 2002)

Six Month Average (April-September 2003)

* 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.