The net number of homes for sale in San Francisco inched up another two (2) percent over the past week to a little over 1,200, representing the most active inventory on the market since the fourth quarter of last year, 20 percent more inventory than there was at this time of time of the year in 2019, prior to the pandemic, and nearly 80 percent more homes on the market than there were in late September of 2015.

That being said, there are still 35 percent fewer homes on the market than there were are the same time last year and pending sales activity, which is now up an average of one (1) percent for the month on a year-over-year basis, has inched up as well, but the average list price per square foot of the pending sales has inched down around two (2) percent over the past week to $980 per square foot as well.

Inventory levels should continue to tick up through October before dropping again in November, and through the end of the year, as unsold inventory is withdrawn from the market and reductions increase. We’ll keep you posted and plugged-in.

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