With the number of listed single-family homes on the market in San Francisco (206) currently running about even versus the same time last year (210), the number of sub-million dollar single-family homes on the market has ticked up 15 percent over the past month to 111.

The overall inventory of properties currently listed for sale in San Francisco (430) is currently running 15 percent lower on a year-over-year basis, with active listings for condos (224) 24 percent lower versus the same time last year. Inventory levels should begin to climb in September.

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Comments from “Plugged-In” Readers

  1. Posted by SFrentier

    See, the city is more affordable than some think!

  2. Posted by confused renter

    Let’s not confuse list with sale prices. The strategy is to bait in as many people in hopes of starting a bidding war.

  3. Posted by chuco35

    But what if your plan to lure in buyers results in only one offer – asking?

    • Posted by Flash

      They can and do reject the offer. I was just talking to someone last week who took his SF property off the market temporarily after he rejected the only offer. “Was it way below asking,” I asked? No, the offer was slightly above asking but he was expecting much more. He’s going to restage and relist later in the year. I’m not defending this pricing strategy, just relaying the story.

      • Posted by NJ

        Yup. I saw it happen on Million Dollar Listing San Francisco, so it must be true.

        • Posted by Bertie Anglis

          Fun drinking game: take a swig every time you see something blatantly fake/orchestrated on Million Dollar Listing SF.

          On second thought, those rules might lead to liver failure.

        • Posted by SFrentier

          Love that show. It’s so good.

  4. Posted by Alex740

    Might also be a sign that the outer neighborhoods which traditionally have higher homeownership levels and lower cost single family homes are starting to turn over. I would think a lot of long term residents in these traditionally blue collar areas are finding themselves sitting on very expensive property that could pay for a very comfortable retirement somewhere else.

    • Posted by foggydunes

      I agree, it sounds like like activity has been heating up in areas like Bayview, Portola, etc.

      • Posted by SFrentier

        Actually not a lot of inventory at all in BV. But there has been a consistent stream of sub $1mil SFH’s in the excelsior, outer mission and Crocker Amazon.

        • Posted by Alex740

          Yeah, from what I can tell, the Excelsior/Portola has had the highest amount of activity lately and seem to be quietly turning over faster than other areas. I think this has to do with their location as the next step out from Bernal/Glen Park and proximity to the Bayview buzz but with fewer BV issues for those looking to live in their investment.

  5. Posted by Amewsed

    How is this a bad thing? Let the market decide — if seller priced too low at sub-million and it is a good house, the buyers will respond accordingly. If the seller is unrealistic and priced too high and it is a marginal house, the buyers will reduce to below asking.

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