Inventory of listed single-family homes, condos, and TICs in San Francisco increased 2.3 percent over the past two weeks to 1,598 active listings. Over the past five years, listed inventory levels in San Francisco have increased an average of 6 percent from the beginning to middle of June.
Current listed inventory is down 8 percent on a year-over-year basis, up 8 percent versus the average of the past five years, up 20 percent as compared to an average of 2006 and 2007. The inventory of single-family homes for sale in San Francisco is down 5 percent year-over-year to 656 listings while listed condo inventory is down 13 percent to 942.
The percentage of active listings in San Francisco that have undergone at least one price reduction held steady at 36% as the percentage of active listings that are either already bank owned (89) or seeking a short sale (226) ticked up two points to 20 percent, up 9 percent 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: June 6, 2011 [SocketSite]
That reminds me to post months of inventory data. Columns are date, inventory per SocketSite’s MLS survey closest to mid-month, home sales per MLS from SocketSite, months of inventory, trailing 3 months of inventory, and trailing 12 months of inventory. The trailing 12 has been stable since about December. Trailing 3 finally lost that February number that was keeping it higher.
May-07 1091 529 2.1
Jun-07 1152 513 2.2
Jul-07 1157 470 2.5 2.3
Aug-07 1187 464 2.6 2.4
Sep-07 1408 346 4.1 3.0
Oct-07 1532 452 3.4 3.3
Nov-07 1393 408 3.4 3.6
Dec-07 1077 355 3.0 3.3
Jan-08 1053 215 4.9 3.8
Feb-08 1159 292 4.0 4.0
Mar-08 1329 318 4.2 4.3
Apr-08 1381 382 3.6 3.9 3.3
May-08 1491 478 3.1 3.6 3.4
Jun-08 1496 426 3.5 3.4 3.5
Jul-08 1470 478 3.1 3.2 3.6
Aug-08 1388 393 3.5 3.4 3.7
Sep-08 1544 332 4.7 3.8 3.7
Oct-08 1789 381 4.7 4.3 3.8
Nov-08 1788 241 7.4 5.6 4.1
Dec-08 1405 265 5.3 5.8 4.3
Jan-09 1189 141 8.4 7.1 4.6
Feb-09 1500 192 7.8 7.2 4.9
Mar-09 1648 238 6.9 7.7 5.2
Apr-09 1622 277 5.9 6.9 5.4
May-09 1685 328 5.1 6.0 5.5
Jun-09 1630 389 4.2 5.1 5.6
Jul-09 1569 452 3.5 4.3 5.6
Aug-09 1352 495 2.7 3.5 5.6
Sep-09 1448 392 3.7 3.3 5.5
Oct-09 1460 435 3.4 3.3 5.4
Nov-09 1346 395 3.4 3.5 5.0
Dec-09 1131 412 2.7 3.2 4.8
Jan-10 909.5 226 4.0 3.4 4.4
Feb-10 1116 247 4.5 3.8 4.2
Mar-10 1361 414 3.3 3.9 3.9
Apr-10 1491 317 4.7 4.2 3.8
May-10 1599 480 3.3 3.8 3.6
Jun-10 1697 446 3.8 3.9 3.6
Jul-10 1799 385 4.7 3.9 3.7
Aug-10 1594 360 4.4 4.3 3.8
Sep-10 1797 341 5.3 4.8 4.0
Oct-10 1936 372 5.2 5.0 4.1
Nov-10 1834 326 5.6 5.4 4.3
Dec-10 1408 404 3.5 4.8 4.4
Jan-11 1255 275 4.6 4.6 4.4
Feb-11 1399 276 5.1 4.4 4.5
Mar-11 1443 409 3.5 4.4 4.5
Apr-11 1551 422 3.7 4.1 4.4
May-11 1577 452 3.5 3.6 4.4
Redfin thinks this is a good sign:
http://twitter.com/#!/RedfinBayArea/status/83193487490678785
Well, at least inventory ain’t going through the roof…kewl!
Pent up supply appears to be holding steady over the past two weeks. Currently, 1487 homes are in some state of foreclosure (NODs, NOTS, bank owned) in Ess Eff. This is compared to 1479 homes two weeks ago. Standard disclosures about noise in the data; information deemed reliable but not guaranteed.