With the number of single-family homes and condos that were newly listed for sale in San Francisco over the past week having outpaced the number of new purchase contracts that were written, the number of homes on the market across the city (i.e., inventory) ticked up a (1) percent to 940.
While distorted by an exodus of listings last March, that’s 140 percent more inventory than there was on the market at the same time last year. But that’s also the most end-of-March inventory on the market in San Francisco since 2011 and 130 percent more inventory on the market than there was at this time of the year in 2015.
And while the number of homes in contract across the city ticked up a little over 1 percent over the past week, the average list price per square foot of said homes ticked down nearly 3 percent to around $950 per square foot, which is 2 percent lower than at the same time last year (and over 8 percent below the average list price per square foot of the homes which remain on the market, 20 percent of which have been reduced at least once).