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November
San Francisco Real Estate Market Update for
October 2005

The San Francisco Real Estate Market for October showed no signs of slowing if you look at the numbers below. However, Real Estate offices are reporting longer marketing times for homes than they did in the summer months and fewer multiple offers. The number of homes sold actually increased from the previous month for all three categories we track but were fewer than the same time a year ago. However, compare the average selling prices for October 2005 to October 2004, and you will see that, on average, homes sold for 14% more, condos sold for 19% more and the "all" category sold for 11% more! As we pointed out in the past, given that most home purchased are leveraged with loans, this could make for an incredible cash on cash return. San Francisco Real Estate continues to be a great investment.

Avram Goldman, President and COO of Coldwell Banker, SF Bay Area reported for the third week of October, "...the market is beginning to find equilibrium, fewer offices reporting decreasing sales and increasing listings. Open houses overall are still well attended; however buyers are being more discriminating and thoughtful in their purchases. We are seeing more transactions falling through. This is due primarily, because sellers are unwilling to negotiate after deals have been made. Buyers are feeling there is enough inventory and they will be able to find a replacement home. When sellers are willing to work with buyers deals are more likely to stay together...

"...We are experiencing increasing numbers of price reductions... Given historical perspective we are still in a healthy balanced market with solid demand and more choice for buyers..."

The number of Single Family Homes sold for September was up significantly from August as was the average selling price. Even so, the average listing price was over 107% of the listing price. And compared to sales figures from last year at this time, prices rose over 10% on average.

The number of Condominiums sold in September was also down from August as was the average selling price. Even so, the average selling price was over 5.89% from last month, and the average selling price was over 105% of the listing price. And compared to sales figures from last year at this time, prices rose over 17% on average.

The number of Overall Sales for September was also down from last month as was the average selling price. However, the average selling price was over 105% of the listing price. And compared to sales figures from last year at this time, prices rose over 17% on average.

Jay Bransfield of All California Mortgage, submitted this:

"Big Ben Bernanke (pronounced Ber-NANK-kee) got the nod last week to take the reins in 2006 from retiring Fed Chairman Alan Greenspan. The new man in the Chair has superb credentials, but is known for being more “dovish” than “hawkish” in the fight against inflation.

"More good news for the housing sector, as Existing Home Sales numbers for September were strong at 7.28 million sales...

"The economic calendar is loaded with potential market movers this week, including the Fed Meeting and Policy Statement on Tuesday afternoon. Another .25% hike to the Fed Funds Rate is a lock, but as always, the markets will dissect every word uttered by Mr. Greenspan..

"I've used SFResidence as my Trusted Advisor when I've bought and sold real estate in San Francisco and I'm honored to be a part of her Trusted Advisor Team" - Jay Bransfield

Don't miss out on your opportunity to buy or sell! San Francisco Real Estate continues to be a great investment!

October statistical market history is now online.

October 2005 **

September 2005 **

October 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.