The number of homes on the market in San Francisco, net of all sales activity, inched up a (1) percent over the past week, which is typical for the week preceding the Super Bowl.

As such, listed inventory levels are still 19 percent lower than they were at the same time last year but 20 percent higher than they were prior to the pandemic and over twice as high as they were in February of 2015.

Expect inventory levels to muddle along over the next week and then climb after Presidents’ Day, driven by a seasonal increase in new listing activity along with the return of properties that failed to sell last year and were quietly withdrawn from the MLS in order to be re-listed as “new” in the spring. We’ll keep you posted and plugged-in.

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