The overall inventory of properties currently listed for sale in San Francisco (471) slipped 3 percent over the past two weeks as was to be expected and is currently running 15 percent lower on a year-over-year basis, driven by a continued slowdown in new listings for previously-owned condos.

While the inventory of previously-owned condos listed for sale in the city (254) is 28 percent lower than at the same time last year, the number of listed single-family homes for sale in San Francisco (217) is running 7 percent higher, with 45 percent of the single-family homes currently listed for under a million dollars.

The inventory of multi-unit buildings for sale in the city (108) has held relatively steady over the past two weeks but is currently running around 25 percent higher versus the same time last year.

Based simply on seasonality, listed inventory levels should continue to decline through August and then begin a sharp climb through October.

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