While the pace of home sales has slowed in San Francisco, both in terms of new construction and re-sales, inventory has been ticking up as we expected.

At the moment there are roughly 15 percent more condos listed for sale, and 80 percent more units available in sales offices of new developments across town, than there were at this time last year. And in fact, there are currently more condos on the market in San Francisco than there have been at any other point in over two years.

That being said, the 400-ish units of listed condo inventory is roughly a third of the nearly 1,200 condos which were listed for sale in San Francisco at this time of the year in 2010, the peak of the last cycle in terms of inventory and around the bottom of the market in terms of values.

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