Inventory Levels Start Ticking Back up, Poised To Climb

3054a SF Inventory Chart 01 19 21 Inventory Levels Start Ticking Back up, Poised To Climb

Having dropped at the end of last year with a typical culling of unsold listings and seasonal slowdown in play, along with nearly twice as many homes in contract than there were at the end of 2019, the number of homes listed for sale in San Francisco (880) has started ticking back up and there are now around twice as many homes on the market than there were at the same time last year and three times as many as there were at the start of 2015.

At a more granular level, there are currently 110 percent more condos on the market than there were at the same time last year and 55 percent more single-family homes.

And while the percentage of homes on the market in San Francisco with a reduced list price has dropped to 26 percent, driven by the aforementioned culling of unsold listings which are likely return to the market with “new,” but not officially reduced, list prices, that’s eleven (11) percentage points higher than at the same time last year with an “expectation gap” of around 6 percent between the average list price per square foot of the homes which are in contract and those which are not.

Expect inventory levels to climb over the next quarter and likely through the middle of the year.

Article source: http://socketsite.com/archives/2021/01/inventory-levels-start-ticking-back-up-poised-to-climb.html

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