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Market Update: November 2003

The San Francisco Real Estate Market volume and price has decreased from October for single family homes. However, the percentage of offers over asking price on listings was up to almost 10% over the list price. That means buyers are competing for good homes.

The average sales price for Single Family Dwellings was at $848,914 which is a decrease of 5% from October. However, the sales price was 109.46% 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 decreased 24% in October! However, the average sales price is way up to $677,036 which is an increase of more than 10% in one month. Again, the selling price continues to be over the asking price.

The overall sales decreased this month in number of sales (9.7%) but increased slightly in the average price (1.3%). That indicates a steady strengthening of the prices. With interest rates continuing to go down and the economy improving, the activity is projected to be good even through the holiday season.

Interest rates are stable and the refinance boom has slowed so banks are offering great financing packages for purchases. San Francisco Real Estate continues to be a great investment.

November 2003*

October 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.