Inventory of Active listed single-family homes, condos, and TICs in San Francisco declined 1.9% over the past two weeks (versus an average increase of 8.5% for the same two week period over the previous three years) and is now running 9.0% higher on a year-over-year basis (down 4.2% for single-family homes and up 18.1% for condos/TICs) and 22.7% higher than at the same point in 2006.
At the same time, listed sales activity has fallen by 37% on a year-over-year basis with the effective mid-June months of inventory based on sales velocity in May rising roughly 72% on a year-over-year basis from 3.4 months in 2008 to 5.8 months in 2009, and up 108% from 2.8 months in 2006.
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 Inventory Update: 6/01/09 [SocketSite]
∙ San Francisco Listed Sales Volume In May: Down 37% YOY [SocketSite]