Based on our calculations, re-sale activity for listed properties in San Francisco has been relatively flat over the past two weeks. At the same time, new listings have slightly outpaced new sales resulting in a nominal increase in total Active listed housing inventory.
∙ San Francisco Housing Inventory Update: 4/30/07 [SocketSite]
Inventory numbers alone don’t really tell much.
Does anyone have the sales numbers for SF so that a ‘month’s supply’ can be calculated? I know the DQ numbers should be out in the next few days but sometimes there is some ‘advanced word’ about how things are shaking out.
What’s the deal with the dip in inventory at the end of August last year? It seems like it should steadily increase until November and then drop off at the end of the year when the contracts expire?
jeff
Nope. People start pulling down listings in anticipation of the slow fall/winter sales season. Better to take it down and relist in spring. Contracts with agents aren’t typically written with a year-end expiration.
And I see it as people getting ready to list in September (one last wave before the Holidays) with August being a traditionally slow month for new listings.
Can someone post the actual inventory this time next year? At 1,091, the dot is below last year’s, but what is last year’s exactly?
Also, does this year also include many of the new SOMA construction? If so, that could further exmplain why there is a perception of very little inventory in SF, as existing inventory is inflated by new construction.