Driven by a pronounced slowdown in the pace of sales, the net number of homes on the market in San Francisco is currently 30 percent higher than at the same time last year.

In fact, listed inventory levels are nearly 50 percent higher than average over the past decade, 80 percent higher than they were prior to the pandemic and over 100 percent higher than in June of 2015.

At the same time, the percentage of homes on the market with an asking price that has been reduced at least once has ticked back up to 27 percent, which is 5 percentage points higher than at the same time last year and 10 percentage points, or roughly 60 percent, higher than prior to the pandemic

Once again, keep in mind that springtime inventory levels in San Francisco typically peak in June. And as always, we’ll keep you posted and plugged-in.

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