Driven by a slowdown in the pace of springtime sales versus a “surge,” the net number of single-family homes and condos on the market in San Francisco ticked up 3 percent over the past week and remains at a 13-year seasonal high .
As such, there are now 9 percent more homes on the market than there were at the same time last year, which is the largest year-over-year increase in inventory levels in over a year, with 50 percent more inventory on the market than average for this time of the year, nearly 80 percent more inventory than in 2019, and 145 percent more homes on the market than there were in late April of 2015.
At the same time, the average asking price per square foot of the homes on the market in San Francisco is 6 percent lower than at the same time last year, as we noted last week, having dropped 7 percent over the past two months to around $925 per square foot, which is 16 percent below its pandemic-driven peak and trending down, not up, none of which should catch any plugged-in readers, other than the most obstinate, by surprise.
Just curious – what is your data source for inventory and how do you calculate it?
Don’t mean this to come across as snarky, but…previously asked and answered.
Thank you! doesn’t come across as snarky – I’ve just seen claims that differ wildly from this site, and from a “boots on the ground” it certainly doesn’t feel like a 13-year seasonal high.