While the number of homes on the market in San Francisco has ticked down 12 percent since the middle of July, as is typical for this time of the year, there are actually 5 percent more homes on the market right now (575) than there were at the same time last year (550) and 35 percent more than at the same time in 2015 (430).
And in fact, it’s a dramatic increase in the standing inventory of single-family homes (215) versus condos (360) which is driving the overall rise, with 32 percent more single-family homes on the market today versus the same time last year and 6 percent fewer condos.
We’ll also note that the average list price per square foot of all the San Francisco homes that have been in contract over the past month has slipped around 2 percent versus the first half of the year and is currently running around $900 per square foot.
Any insight into new development inventory vs prior years for an overall condo market story?
As previously reported, Pricing Index for New Condos in S.F. Inches Up, Sales Slip
“… there are actually 5 percent more homes on the market right now (575) than there were at the same time last year (650) …”
How is 575 5% more than 650?
When there’s a fat finger error (which has since been corrected above).