CFAH

Despite the fact that the average asking rent for an apartment in San Francisco has dropped 24 percent since the end of February and the average asking rent for a one-bedroom is back under $2,700 a month for the first time since 2012, listing activity for available units continues to tick up.

In fact, there are now over three (3) times as many apartments listed for rent in San Francisco than there were at the same time last year with vacancy rates on the rise.

And with listing activity for apartments in Oakland having doubled over the past nine months, the average asking rent in the city has dropped 13 percent and is currently down around 18 percent versus the same time last year with the average asking rent for a one-bedroom in Oakland having dropped back under $2,000 a month.

Keep in mind that listing activity and availability typically drops at the end of the year.