The net number of homes on the market in San Francisco, including condos, jumped over 20 percent last week following a typical holiday drop.
As such, while listed inventory levels are still 10 percent lower than at the same time last year, they’re 30 percent higher than average for this time of the year, 90 percent higher than prior to the pandemic, and 150 percent higher than in 2015, despite misreports of “record low inventory levels” and subsequent misanalyses of the market at hand.
And while listed inventory levels jumped, the average asking price per square foot of the homes on the market in San Francisco dropped around 6 percent and is now down around 9 percent on a year-over-year basis, none of which should catch any plugged-in readers, other than the most obstinate, by surprise.