With fewer purchase contracts having been written over the past week than there were properties newly listed for sale, the net number of homes on the market in San Francisco inched up another (1) percent to 1,260, representing the most active inventory since December of last year, 22 percent more inventory than there was at this time of time of the year in 2019, prior to the pandemic, and 85 percent more homes on the market than there were in October of 2015.

That being said, there are still 35 percent fewer homes on the market in San Francisco than there were are the same time last year, the average list price of the homes which are on the market has inched up a percent to $1,030 per square foot, and there are over 10 percent more homes in contract than were at the same time last year. But the average asking price of the homes which are actually in contract has inched back down a percent to $980 per square foot.

Expect inventory levels to moderate over the next couple of weeks before dropping in November and through the end of the year, as unsold inventory is either withdrawn from the MLS or reduced. We’ll keep you posted and plugged-in.

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