With the most new listings for condos and single-family homes in San Francisco over the past week (180) than during any other week since 2011, the overall inventory of the two property types listed for sale in San Francisco (616) remains 4 percent lower than at the same time last year but is climbing.
The number of listed condos on the market in San Francisco (362) is currently running 3 percent higher than at the same time last year while the number of listed single-family homes (254) is 11 percent lower, 42 percent of which are listed for less than a million dollars.
Roughly 16 percent more homes were listed over the past week versus the week after Labor Day last year. And as plugged-in people have long-known to expect, inventory levels should continue to climb through October.
How are things looking on the demand side?
In my opinion, price swings have been largely driven by changes in demand while supply has been relatively stable. In other words, when demand is high, buyers get into bidding wars which drives up comps for future deals.
[Editor’s Note: San Francisco Home Sales Take A Big Hit.]
UPDATE: Most Condos On The Market In S.F. In Over Two Years