The net number of condos and single-family homes listed for sale in San Francisco (i.e., inventory) ticked up another 3 percent over the past week despite a seasonally driven uptick in sales activity, with pending sales currently even year-over-year but still 50 percent below their pace in early 2021.
And while 3 percent lower than at the same time last year but closing, driven by a 9 percent deficit for single-family homes, listed inventory levels in San Francisco remain 30 percent higher than prior to the pandemic, nearly 40 percent higher than average for this time of the year and over twice as higher than in 2015.
At the same time, the average asking price per square foot of the homes on the market in San Francisco is 2 percent lower than at the same time last year, 10 percent below peak and 10 percent above the average asking price per square foot of the homes which are in contract, which is currently holding at around $900 per square foot.