CFAH

The net number of homes on the market in San Francisco dropped another 9 percent over the past week to 930, as was to be expected, and listed inventory levels are now 45 percent lower than they were at the same time last year.

That being said, inventory levels are still 25 percent higher than they were prior to the pandemic and 85 percent higher than they were back in 2015.

Expect inventory levels to continue to drop through the end of the year, driven by unsold listings being reduced to spur a sale or withdrawn from the market and then re-listed as “new” in the spring, with 27 percent of the homes currently on the market having been reduced at least once and the average list price per square foot of the homes which are in contract having ticked down 2 percent over the past week to $975 per foot.

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