As you know, San Francisco’s inventory of listed single-family homes, condos, and TICs is currently running 34% higher on a year-over-year basis. As you might not know, on a year-over-year basis sales activity of said homes is running 25-30% lower. From another plugged-in reader:
Total MLS sales for June stand at 381 (at this moment) with an overall median price of $799K. June 2007 had 545 sales at a median of $830K. Jun06 – 617 sales @ $799K, Jun05 – 656 sales @ $800K, Jun04 – 708 sales @ $717K.
The official sales count for June will increase as listings for end of the month transactions are updated (hence our 25-30% range), but the significant downward trend over the past four years will hold true (the rate of which has been increasing rather than decreasing).
∙ SocketSite’s San Francisco Listed Housing Inventory Update: 6/30/08 [SocketSite]