CFAH

As projected, the number of homes on the market in San Francisco inched down a (1) percent over the past week to 1,220, down from a high-water mark of 1,240 in 2021 and 2,010, which was a two-decade high, last year.

While listed inventory levels are down nearly 40 percent on a year-over-year basis, there are still over 20 percent more homes on the market than there were at this time of time of the year in 2019, prior to the pandemic; over 70 percent more homes on the market than there were at this time of the year in 2015; and the most homes on the market in a decade, save for in the second half of last year.

And as we outlined last week, “expect inventory levels to tick down over the next couple of weeks and then drop through the end of the year, with unsold inventory either withdrawn from the market and then re-listed as “new” in the spring or reduced,” with a quarter of the active listings in San Francisco having already been reduced at least once.

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