The net number of single-family homes and condos on the market in San Francisco ticked up another 4 percent over the past week with typical seasonality in play.

As such, overall inventory levels remain effectively even versus the same time last year, but with the most single-family homes on the market, for this time of the year, in over a decade and 50 percent more inventory overall than average over the past ten years.

At the same time, with the pace of home sales in San Francisco still down 45 percent, year-over-year, and 20 percent below pre-pandemic levels, the average asking price per square foot for a home in San Francisco, which slipped back under $1,000 a square foot last week, has since ticked down another percent and is now 7 percent lower than at the same time last year, with 30 percent of the homes on the market having been reduced at least once versus closer to 20 percent at the same time last year. We’ll keep you posted and plugged-in.

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