With the number of homes newly listed for sale over the past week roughly matching the number of homes sold, the inventory of homes on the market in San Francisco held at an 8-year high of 1,010, which is 6 percent higher than at the same time last year.

The year-over-year gain in overall inventory levels remains driven by listings for condos (690), however, which are up 16 percent, not including the vast majority of new construction condos for sale across the city, versus listings for single-family homes (320), the number of which ticked up over the past week but is still down 11 percent on a year-over-year basis (versus 13 percent lower the week before).

As expected, overall inventory levels have likely peaked for the year while the share of listings with an official price cut, which currently measures around 17 percent, not including homes which have been formally withdrawn from the MLS and then re-listed with a lower “original” price, should continue to tick up to around 25 percent by the end of the year.

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