With the number of homes on the market in San Francisco nearing a two-decade high, and the percentage of homes on the market listed for under a million dollars having just ticked up to 35 percent, which is up 2 percentage points over the past month and versus 26 percent at the same time last year, there are now 160 percent more sub-million dollar homes on the market in San Francisco (690) than there were at the same time last year (270) and the most, in the absolute, since October of 2011.

Comments from Plugged-In Readers

  1. Posted by sforthright

    Weirdly, I’m seeing a bit of a dry spell in inventory for the neighborhoods I’m looking at sub 1.5. Clearly things are not evenly distributed.

    • Posted by Kunal

      What neighborhoods are you looking at?

      • Posted by sforthright

        Primarily sunset, parkside, richmond, glen park, bernal

    • Posted by ST

      I noticed the same thing with condo under $700K….

      • Posted by sforthright

        Ha, I assume you’re pointing out that there are few of these to begin with

        • Posted by ST

          Correct, especially in the areas that I am looking at – Cole, Noe and Haight. I would say I did not see any new listings – that is attractive – in that category in the past 2-3 weeks.

  2. Posted by sparky-b

    56 of the 690 are SFH

    18 north of 280
    FWIW

    • Posted by SocketSite

      That’s correct and perhaps not too surprising, considering the average sale price for a single-family home (SFH) in the city has been running around $1.6 million (versus $1.2 million for a condo).

      At the same time, however, the average SFH sale price over the past six months is down around 8 percent versus the six months prior and down 9 percent on a price per square foot basis.

      • Posted by Ohlone Californio

        The average sale price metric. From Socketsite. Comedy gold.

        • Posted by SocketSite

          In the context of sale prices, versus values, yes.

          And of course, we included a price per square foot metric for good measure (ba-dum-bump) as well.

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