With new listings continuing to outpace sales in San Francisco, the overall inventory of single-family homes and condos listed for sale in the city (728), which doesn’t include the vast majority of new construction units on the market, ticked up another couple of points over the past week, is running 50 percent higher on a year-over-year basis, and is the highest since 2012 for this time of the year.
At the same time, the percentage of active listings for which the list price has been reduced at least once (129) has ticked up to 18 percent (versus 12 percent at the same time last year). And in the absolute, the number of reduced listings is running 119 percent higher, year-over-year.
At a more granular level, the number of listed single-family homes on the market (281) is now running 38 percent higher versus the same time last year, the greatest year-over-year increase since 2011, while the number of listed condos (447) is running 60 percent higher, year-over-year.
The percentage of active listings for homes priced at under a million dollars in San Francisco is holding at 38 percent.