Having dropped nearly 50 percent over the previous two weeks, following San Francisco’s initial stay-at-home order having been issued, the number of homes on the market in San Francisco has actually ticked up 11 percent over the past week to 430, driven by an uptick in new listing activity along with a near halt in new offers being written.

At the same time, the percentage of homes on the market in San Francisco with at least one official price cut – which doesn’t include properties that were withdrawn from the MLS and then re-listed with a lower “original” price – is currently holding at 23 percent, which is nearly double the percentage at the same time last year.

All that being said, keep in mind that inventory levels in San Francisco, which hit a 9-year high last month, prior to plummeting, typically hit a seasonal “spring selling” peak in mid-June but are currently down 30 percent versus the same time last year.

We’ll keep you posted and plugged-in.

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