Inventory of Active listed single-family homes, condos, and TICs in San Francisco declined 0.7% over the past two weeks (versus an average drop of 2.6% for the same two week period over the previous three years) and is now running 9.8% higher on a year-over-year basis (down 0.5% for single-family homes and up 16.9% for condos/TICs) and 24.4% higher than at the same point in 2006.
Just under 39% of active listings in San Francisco have undergone at least once price reduction (up from just over 32% at the same time last year). And just over 12% of active listings in San Francisco are currently either already bank owned or seeking a short sale.
The standard SocketSite Listed Inventory footnote: Keep in mind that our listed inventory count does not include listings in any stage of contract (even those which are simply contingent) nor does it include listings for multi-family properties (unless the units are individually listed).
∙ SocketSite’s San Francisco Listed Housing Inventory Update: 6/15/09 [SocketSite]