Inventory of listed single-family homes, condos, and TICs in San Francisco increased 1.1% over the past two weeks to 1,415 active listings. Over the past five years listed inventory levels have increased an average of 5.9% in San Francisco during the same two weeks.
Current listed inventory is up 15% on a year-over-year basis, up 19% versus the average of the past five years, up 55% as compared to 2006. On the demand side of the equation, listed sales were up 15 percent in January with 275 properties sold.
The inventory of single-family homes for sale in San Francisco is up 30% on a year-over-year basis to 593 homes while listed condo inventory is up just 6% to 822.
The percentage of all active listings in San Francisco have undergone at least one price reduction dropped one point to 30% as the percentage of active listings that are either already bank owned (85) or seeking a short sale (202) did as well to 21%, down 1% on an absolute basis over the past two weeks.
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).
∙ San Francisco Listed Housing Inventory Update: February 14, 2011 [SocketSite]
∙ Will Pent-Up Demand Outstrip Pent-Up Supply? [SocketSite]
∙ SF Listed Sales Volume Up 15% In January Driven By Low-Cost Areas [SocketSite]