Inventory of Active listed single-family homes, condos, and TICs in San Francisco increased 9.9% over the past two weeks in a typical post-Labor Day bounce. Listed inventory is currently running 6.2% under last year’s levels on a year-over-year basis (down 10.8% for single-family homes and down 2.9% for condos/TICs) and 2.7% lower than at the same point in 2006.
Roughly 31% of active listings in San Francisco having undergone at least once price reduction with the percentage of active listings that are currently either already bank owned or seeking a short sale hovering around 11%. Expect listed inventory levels to continue to climb over the next couple of months.
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: 8/30/09 [SocketSite]