What Does the List Price Mean?
A common question is, "how long has it been on the market?". In many segments of this San Francisco market, properties that are priced at or below market value, usually go into contract within two weeks. If a property has been on the market more than a couple of weeks, it is reasonable to assume that it could be purchased at or possibly below the list price. If the property has just come on the market, often the list price is merely an opening bid and could be far below the ultimate sales price. The irrelevance of list prices in a competitive market makes it very confusing to buyers not familiar with this process.

While it is true that many listings in San Francisco are currently receiving multiple offers and going over their asking prices, it is not a rule! Since establishing a list price is based on the subjective opinion of the seller and the listing agent, value must be determined intelligently without assuming that a property must go over asking. The San Francisco Market is hot, and you need a Real Estate agent who will be able to get you the property you want at a fair price.

Quarterly Sales Reports
The following Quarterly Sales Reports can be helpful to spot some trends. The report contains raw numbers and breaks San Francisco into it's 10 Real Estate Districts. Average sales price per district are compared to the same quarter of the previous year.

1. Q4 of 2004 Single Family Homes
2. Q4 of 2004 Condominiums