The inventory of single-family homes and condos actively listed for sale in San Francisco (422) dropped 16 percent over the past week, with unsold homes being withdrawn from the MLS for the holidays and a seasonal slowdown in new listing activity in full swing.  That being said, listed inventory is now running 20 percent higher versus the same time last year.

At a more granular level, the number of listed single-family homes on the market (153) is running 6 percent higher versus the same time last year while the number of listed condos (269), which doesn’t include the vast majority of new construction units on the market, dropped 16 percent in the absolute but is running 30 percent higher, year-over-year.

And the percentage of homes on the market in San Francisco with at least one price cut ticked up from 21 to 23 percent over the past week, matching the ratio at the same time last year.

If typical seasonality holds, unsold listings for which there’s no urgency to sell will continue to be withdrawn from the market through the end of the year, driving the percentage of listings with a reduced price, which peaked around 25 percent last December, through the end of the year.

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