While the inventory of single-family homes and condos listed for sale in San Francisco peaked last month, which shouldn’t have caught any plugged-in readers by surprise, there are still 38 percent more homes on the market (700) than at the same time last year and twice as many for which the asking price has been reduced at least once (200).

At a more granular level, the number of single-family homes currently listed for sale in the city (250) is currently running 35 percent higher versus the same time last year while the number of listed condominiums (450) is 40 percent higher, but that doesn’t include the vast majority of new construction units, the inventory of which is holding around 1,100 and running 85 percent higher versus the same time last year while pricing continues to drop.

And with respect to those 200 reduced listings, that’s 29 percent of all active listings in San Francisco, up three (3) points over the past three weeks, eight (8) points higher versus the same time last year, and the highest pre-Thanksgiving percentage since 2011.

Expect listed inventory levels in the city to continue to drop through December before starting to climb anew in January.

3 thoughts on “Highest Percentage of Homes with Reduced Prices in SF Since 2011”
  1. Could the Feds checking on the All Cash Buyers Money Trail have something to do with the Asking Prices Dropping?

    There is a Victorian at Page and Laguna that was on the market for almost $3,000,000 more than they paid for it in 2013. The price per square foot when they bought it and when they tried to sell it was within market price both times.

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