CFAH

With the typical post-Super Bowl surge still two weeks away, the inventory of homes listed for sale in San Francisco increased 13 percent over the past week as new supply outpaced demand. And while overall inventory levels remain historically low, they’re currently running 10 percent higher versus the same time last year.

At a more granular level, the number of listed single-family homes on the market (130) is currently 10 percent lower than at the same time last year (versus 19 percent lower last week) while the number of listed condos (238), which doesn’t include the vast majority of new construction units, is running 25 percent higher (up from 19 percent higher last week).

We’re expecting the pace of new listings, and overall inventory levels, to accelerate following the Super Bowl and steadily climb through June or July before retreating for the annual summer slowdown.

Comments from Plugged-In Readers

  1. Posted by Sabbie

    Smart people cashing out at the peak.

  2. Posted by SFrentier

    Nah. Smart people buy for the long term in SF, ride out the bumps, and make bank on overall appreciation.

  3. Posted by JR "Bob" Dobbs

    Something worth keeping an eye on.

    The other side of the supply-demand equation — sales — seemed to be soft in 2015. MLS sales of SFRs were down 5%, following an 8.6% decline in 2014. Sales of condos were down 9%. Prices are obviously still sky high, but rising inventory and declining sales (if both continue) are certainly strong leading indicators of a softening market. Probably a good time to sell, and not a good time to buy, in SF right now, from a purely financial standpoint (which takes a back seat to about a half dozen other factors for most housing buyers and sellers).

  4. Posted by Now in sf

    Condos are 25% higher then last year?

    Looks like some of those TIC’s that went through the condo by pass are finally hitting the market.

    • Posted by SFrentier

      Nah. More likely resales of existing condos. Recent condo conversions that are sold/flipped are getting more rare, given how hard and restrictive condo conversions have become. Most are owner user.

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