As we noted last week, the net number of single-family homes and condos on the market in San Francisco was ticking up from a 13-year seasonal high, “driven by a slowdown in the pace of springtime sales versus a “surge.”
And having ticked up another percent over the past week despite a drop in new listing activity, there are now 3 percent more homes on the market than there were at the same time last year, with 35 percent more inventory on the MLS than average for this time of the year, 75 percent more inventory than in 2019 and 135 percent more homes on the market than there were in May of 2015.
At the same time, the average asking price per square foot of the homes on the market in San Francisco inched up over the past week with some seasonality in play but is still 5 percent lower, not higher, than at the same time last year and around 15 percent below its pandemic-driven peak, none of which should catch any plugged-in readers, other than the most obstinate, by surprise.
*it’s definitely not the declining quality of life*
*it’s definitely not the declining quality of life*
*it’s definitely not the declining quality of life*
(If you say it three times fast, it comes true)
Keep getting less, keep paying more, be told otherwise – the California triple play.
a more honest answer is vastly increased interest rates vs 5 years ago