Inventory of listed single-family homes, condos, and TICs in San Francisco fell 7.6% over the past three weeks to 1,834 active listings. On average, inventory has fallen 5.7% during the same three weeks over the past four years.
Current listed inventory remains up 36% on a year-over-year basis, up 21% versus the average of the past four years, and up 37% as compared to an average of 2006 and 2007. Listed sales in October (372) appear to be off by 17% on a year-over-year basis.
The inventory of single-family homes for sale in San Francisco remains up 55% on a year-over-year basis to 764 while listed condo inventory is up 25% to 1,070.
Almost 47% of all active listings in San Francisco have undergone at least one price reduction while the percentage of active listings that are either already bank owned (106) or seeking a short sale (189) is up to 16%, up 4% on an absolute basis over the past two weeks to a new decade-plus high.
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).
∙ San Francisco Listed Housing Inventory Hits New Half-Decade High [SocketSite]