Having hit a 9-year high in the absolute last week, the number of homes on the market in San Francisco ticked down 3 percent over the past week to 1,170 with typical seasonality in play.

That being said, there are now 101 percent more homes on the market than at the same time last year, which is the largest year-over-year increase on over a decade and nearly 200 percent more inventory that at the same of time of the year in 2015.

At a more granular level, the number of single-family homes currently listed for sale in San Francisco is 330, which is 61 percent more inventory than at the same time last year, while the number of condos totals 840, which is 122 percent higher, year-over-year.

And while relative inventory levels could keep ticking up, expect inventory levels to tick down over the next month in the absolute before jumping again in September if typical seasonality patterns hold.

Comments from Plugged-In Readers

  1. Posted by Chris

    Any insight on the year-to-date numbers? I don’t have the numbers, but I assume there was a significant dropping in listings year over year during shelter in place to counterbalance the uptick as realtors adapted to the new environment?

    • Posted by SocketSite

      The numbers above aren’t simply the gross “number of homes listed for sale,” which most brokerages misreport as “inventory,” but rather true inventory levels (i.e., new listings (supply) less actual sales (demand) and properties that were withdrawn from the MLS without a sale). That being said, year-to-date listing activity is up a few percent.

  2. Posted by Nick

    Any news on the new SOMA condo developments reducing prices? I recall back in 08/09 Tishman slashed Infinity prices pretty quickly. Even though 08/09 was a bigger housing crash, i would think developers at some point will want to start moving their inventory…

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