The net number of single-family homes and condos in contract to be sold in San Francisco has been ticking down, not up, over the past month. And having just slipped on a year-over-year basis, pending home sales in San Francisco are over 20 percent lower than in June of 2022, over 40 percent lower than in June of 2021, and 10 percent lower than prior to the pandemic, with 75 percent more inventory on the market than prior to the pandemic and over 30 percent more inventory on the market than average for this time of the year.
And in fact, the average asking price per square foot of the homes that are in contract in San Francisco has just slipped back under $900 per square foot, none of which should catch any plugged-in readers by surprise.