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Market Update: December 2003

The San Francisco Real Estate Market continues to remain strong. The average number of Single Family Dwellings was up slightly from November while the average sales price increased by over 5%. The volume of homes sold in 2003 was almost 6% more than in 2002 and the average selling price was an impressive 8.7% higher.

Condominium average selling prices dipped slightly from November to December while the number sold increased by over 20%. Volume in 2003 was nearly 18% higher than 2002. This indicates that there is a strong demand for condominiums but these units need to be priced right to stay competitive.

Overall sales showed a 10% gain in volume and a 4.6% jump in the average sales price in the last month. In 2003 the number of total units sold were up 9.3% while the average selling price was up 4.7% over 2002. We have had a great year both in volume and increase in value.

Interest rates are holding steady and continue to be the lowest in years. Lenders have many great loan programs still available. Because the number of refinances have begun to drop off, service for new mortgages is getting better.

All in all, San Francisco Real Estate continues to be a great investment!

December 2003*

November 2003

2003

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.