Number of Homes for Sale in S.F. Holds, Reductions JumpMarch 20, 2023
While the net number of homes on the market in San Francisco has held over the past month and now year-over-year, it’s important to understand that the “holding pattern” is being driven by a sharp drop in the number of condos and single-family homes that are being listed for sale, matched by an equally sharp drop in the pace of local home sales.
At the same time, price reductions have jumped, with nearly 60 percent more reduced listings now than at the same time last year and inventory levels are 40 percent higher than prior to the pandemic and over 40 percent higher than average over the past decade, with 35 percent more single-family homes on the market than at the same time last year.
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