Inventory of Active listed single-family homes, condos, and TICs in San Francisco remained relatively flat (down 0.3%) over the past two weeks and is currently running 27% higher on a year-over-year basis.
Once again, we still haven’t seen a significant post Memorial Day bump in inventory but new listing activity has picked up while sales volume has slowed (how much simply due to the July 4th holiday weekend is yet to be seen). And as a measure of mismatched “expectations,” while listing volume is up 27% year-over-year, the volume of Active listings which have undergone at least one price reduction is up 70%.
Keep in mind that our listed inventory count does not include listings in any stage of contract (even those which are simply contingent) nor does it include listings for multi-family properties (unless the units are individually listed).
∙ SocketSite’s San Francisco Listed Housing Inventory Update: 6/30/08 [SocketSite]