While the number of homes sold in San Francisco will end the first quarter down versus the first quarter of 2018 and around a ten-year low, pending sales activity recently started picking up steam.
In fact, for the first time in nearly a year, the number of homes in contract to be sold is now higher on a year-over-year basis, up 8 percent versus the same time last year. And with a higher share of more expensive homes on the market, the average list price per square foot of the homes now in contract is 8 percent higher versus the same time last year as well.
And with the bump in contract activity, along with a relative decrease in listing activity over the past two weeks, inventory levels in San Francisco have slipped.
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