With the gap between the average list price per square foot of the homes on the market in San Francisco and those which are in contract having doubled over the past month, the percentage of homes on the market with a list price that has been reduced at least once has been ticking up.

And with 30 percent of the homes on the market having been reduced at least once, which is 17 percentage points, or 130 percent, higher than at the same time last year, with 27 percent of the active listings for single-family homes having been reduced and 31 percent of the listings for condos, the absolute number of listings with a reduced price (540) has increased 19 percent over the past month to a new 9-year high and is now within 8 percent of a 10-year high and closing.