Having slipped the week prior, the net number of single-family homes and condos on the market in San Francisco inched back up 2 percent over the past week but is down around 10 percent versus the same time last year, driven by an ongoing slowdown in new listing activity (supply), particularly for condos, versus an uptick in sales (demand), with pending sales still down over 30 percent, year-over-year.
At the same time, the average asking price per square foot for a home in San Francisco, which has slipped back under $1,000 a square foot, is currently 4 percent lower than at the same time last year, with the average asking price per square foot of the homes which are in contract currently running closer to $930 per square foot, which is 4 percent lower than at the same time last year as well.