Having dipped during the holiday week, the overall inventory of properties currently listed for sale in San Francisco (488) is relatively unchanged from two weeks ago (487) but is running 13 percent lower on a year-over-year basis, driven by a slowdown in new listings for previously-owned condos.

The number of listed single-family homes for sale in San Francisco (229) is currently running 5 percent higher versus the same time last year, with 44 percent of the single-family homes listed for under a million dollars (versus 46 percent of all listings).

The inventory of multi-unit buildings for sale in the city (104) has held relatively steady over the past two weeks and is currently running 13 percent higher versus the same time last year.

Based simply on historic seasonality, listed inventory levels should decline through August and then begin a sharp climb.

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