January 14, 2014
Listed Home Sales In San Francisco Slipped In 2013
With an inventory gap which started the year down 50 percent versus 2012 but closed to just about even in the last quarter of the year, the sales volume of listed homes sold in San Francisco closed 2013 down 2 percent versus the year before, the first year-over-year drop in transaction volume since 2009.
With roughly 5,650 listed single-family homes and condos sold in 2013, listed sales last year were up nearly 40 percent versus 2009 but 19 percent lower than in 2004, the peak year in terms of listed sales volume in San Francisco.
First Published: January 14, 2014 9:00 AM
Comments from "Plugged In" Readers
So inventory was (very!) roughly 25% down on average YOY over the year then? Just taking an average of the start and the end.
In that case, sales only down 2% is a fantastic result.
Actually, Redfin shows inventory in December still down 29% YOY in Dec 134, so curious as to your source for the just abouyt even, anbd why they may differ.
[Editor's Note: We can’t comment on how Redfin calculates their number, but we adjust for the weekly listing cycle in San Francisco which we’d be willing to bet that Redfin does not.
The average year-over-year inventory gap was actually closer to 10 percent in 2013. Keep in mind that inventory levels were an average of 50 percent lower in 2012 versus the year before yet sales were 14 percent higher.]
Posted by: REpornaddict at January 14, 2014 9:53 AM
Posted by: SocketSite at January 15, 2014 10:42 AM