CFAH

While few homes were listed for sale last week on account of the holiday weekend, and the typical post-Super Bowl surge remains three weeks away, the inventory of homes listed for sale in San Francisco increased 71 percent over the past two weeks to 310 and is currently running 2 percent higher versus the same time last year.

At a more granular level, the number of listed single-family homes on the market (109) is currently 19 percent lower than at the same time last year while the number of listed condos (201), which doesn’t include the vast majority of new construction units, is currently 19 percent higher.

And while the percentage of homes listed for sale with at least one price reduction has dropped to 11 percent, down from 23 percent at the end of November, the drop has been driven by the de-listing of homes that failed to sell in 2015, many of which will be relisted anew over the next couple of month with an official “1” day on the market and no official trace of a reduction.

Expect the pace of new listings and overall inventory levels for homes in San Francisco to climb through June or July before retreating for the annual summer slowdown.

Comments from Plugged-In Readers

  1. Posted by curmudgeon

    2% is hardly thinking about. But it will be interesting to see what happens to condos….clearly we have some short term supply spikes which just might be happening at the same time the tech world becomes less bubbly. It would be interesting to know how many condos are currently available off MLS (new construction).

  2. Posted by BayviewSF

    Inventory is still historical low. New condo construction might be a little bit too much, it might slow down the appreciation or cause a price plateau. At the current inventory level, it seems very unlikely for the price to drop.

  3. Posted by Kona

    Interesting! With VC funding drying up and the public markets completely ruthless, I feel like we’re heading towards the bubble burst AGAIN. Can’t believe we got here again – people have such short memories.

    • Posted by SFrentier

      Slow down Sherlock, we’re far from that severe of a burst.

    • Posted by jack

      I don’t think humans are wired to behave moderately + Any rules/laws/regs will always promote loophole exploitation = Bubbles Always Be Bursting

  4. Posted by DRAVEN

    Wait until after the superbowl.

Comments are closed.

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