Inventory of Active listed single-family homes, condos, and TICs in San Francisco rose 8.7% over the past two weeks (versus an average of 4.3% for the same two week period over the previous three years) and is now running 24% higher on a year-over-year basis (up 8.8% for single-family homes and 34.8% for condos/TICs) and 80% higher than at the same point in 2006.
On the demand side, sales volume over the past two weeks in San Francisco appears to have been off by at least 20% on year-over-year basis despite a much ballyhooed and incorrectly interpreted seasonal uptick in activity.
The standard SocketSite Listed Inventory footnote: 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 Update: 3/02/09 [SocketSite]
∙ SocketSite Sees Seasonality (Versus Signs Of A Rebound) [SocketSite]