Having hit an 11-year seasonal high last week, the net number of homes on the market in San Francisco (i.e., inventory) has since ticked up another 8 percent, driven by a continued slowdown in the pace of sales along with an increase in listing activity and price reductions on the rise.
In fact, there are now 70 percent more homes on the market than there were at this time of the year prior to the pandemic; over twice as many as there were in early April of 2015; and the most, on a seasonal basis, since 2011.
And while listed inventory levels typically peak in October, there are now more homes on the market in San Francisco than there were at any point in time from the end of 2011 through the second quarter of 2020. We’ll keep you posted and plugged-in.