While we’ve seen sales volume in San Francisco trending up over the past two months, new listings continue to outpace new contracts as inventory of Active listed single-family homes, condos, and TICs in San Francisco increased 5% over the past two weeks and is up 42% on a year-over-year basis.
Do keep in mind, however, that while sales volume is trending up, it’s still running almost 30% under the pace of 2007. And combined with increasing inventory, it has resulted in a near doubling of months of listed inventory versus the same time last year.
∙ SocketSite’s San Francisco Listed Housing Inventory Update: 2/19/08 [SocketSite]
∙ San Francisco Sales Activity In January: Down Again (-27.1% YOY) [SocketSite]