Inventory of Active listed single-family homes, condos, and TICs in San Francisco increased 3.6% over the past two weeks but is currently running 11.3% under last year’s levels on a year-over-year basis (down 16.2% for single-family homes and down 7.8% for condos/TICs) and within two percent of listed inventory levels at the same point in 2006 and 2007.
Thirty-three (33) percent of active listings in San Francisco have undergone at least one price reduction while the percentage of active listings that are either already bank owned or seeking a short sale is down to 10%.
Keep in mind that listed sales volume in August was down ten percent on a year-over-year basis as well.
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: 9/14/09 [SocketSite]
∙ San Francisco Listed Sales Volume In August: Down 10% YOY [SocketSite]