Number of Homes for Sale in San Francisco Poised to Jump

fa40c SF Inventory Chart 09 08 20 Number of Homes for Sale in San Francisco Poised to Jump

Having effectively plateaued over the past couple of weeks at above recession-era levels, the number of homes on the market in San Francisco, net of all new sales and contract activity, has ticked up to 1,600, which is twice as many homes on the market than there were at the same last year (750) and the most homes on the market at the start of September in the over 15 years, a trend which shouldn’t catch any plugged-in readers by surprise.

The number of condos on the market, which tends to be a leading indicator for the market as a whole, currently totals 1,210, representing 150 percent more inventory than at the same time last year, while the number of single-family homes on the market totals 390, which is currently 46 percent higher on a year-over-year basis and poised to jump as listings which failed to sell in the spring, and were subsequently withdrawn from the MLS in the summer months, return anew.

At the same time, with the list price for 29 percent of the homes on the market having been reduced at least once, which is 18 percentage points higher than at the same time last year, there are 450 percent more reduced homes on the market in the absolute, a number which is poised to rise as well.

We’ll keep you posted and plugged-in.

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